Company Update (NYSE:CSX): CSX Names New Engineering Leaders

[GlobeNewswire] – JACKSONVILLE, Fla., March 02, 2016– CSX today appointed new engineering leaders following the announcement that John West, vice president-engineering, will retire on April 1 after 37 years of dedicated … Read more on this. CSX Corp. (CSX) , currently valued at $23.69B, started trading this morning at $25.14. Today’s price range has been between $24.60 and $25.62 per share and has traded between $21.33 and $37.67 over the past year. CSX shares are currently priced at 13.46x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 13.24x earnings multiple. And for passive income investors, the company pays shareholders $0.72 per share annually in dividends, yielding 2.96%. According to a consensus of 24 analysts, the earnings estimate of $0.36 per share would be $0.09 worse than the year-ago quarter and a $0.08 sequential decrease. The full-year EPS estimate is $1.83, which would be a $0.17 better than last year. The quarterly earnings estimate is predicated on a consensus revenue forecast of $2.69 Billion. If reported, that would be a 11.22% decrease over the year-ago quarter. Recently, Morgan Stanley downgraded CSX from Overweight to Underweight (Feb 23, 2016). Previously, BofA/Merrill upgraded CSX from Neutral to Buy. Given all the information above, we should disclose to readers that the average price target is $26.65, which is 6.01% above than it opened this morning. See more in (NYSE:CSX) Similar Articles: Company Update: CSX Corp (NYSE:CSX) – CSX Chief Financial Officer Discusses Near- and Long-Term Expectations and Strategy Company Update (NYSE:CSX): CSX to Streamline Mechanical Operations at 16 Locations Company Update: CSX Corp (NYSE:CSX) – CSX and the Conservation Fund Announce 2015 Grant Recipients
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