CSX Given “Outperform” Rating at BMO Capital Markets (CSX)
“At a transportation conference today, CSX provided an update on its various business segments through the first eight weeks of the year. Volumes are down about 2%, with declines in the coal and merchandise segments offset by strength in intermodal. On a quarter-to-date (QTD) basis, CSX Q1/13 revenues appear to be tracking about $50–60 million behind our forecast, which is equivalent to about $0.02/share off our previous $0.40 Q1/13 EPS forecast. We suspect that March should be somewhat better in terms of y/y performance but the quarter is still likely to fall short of current expectations (consensus of $0.41) in the absence of a positive surprise from the cost side. That being said, we believe the company’s prospects should improve incrementally through the year as coal headwinds abate and as we project growth in the merchandise segment to improve.,” BMO Capital Markets’ analyst wrote.
CSX has been the subject of a number of other recent research reports. Analysts at TheStreet reiterated a buy rating on shares of CSX in a research note to investors on Friday, March 1st. Separately, analysts at RBC Capital reiterated an outperform rating on shares of CSX in a research note to investors on Tuesday, February 12th. They now have a $27.00 price target on the stock.
Twelve analysts have rated the stock with a buy rating, four have issued an overweight rating, and fourteen have given a hold rating to the company. The stock has an average rating of overweight and a consensus price target of $24.89.
CSX opened at 22.71 on Wednesday. CSX has a 52-week low of $18.88 and a 52-week high of $23.80. The stock’s 50-day moving average is currently $22.32. The company has a market cap of $23.182 billion and a price-to-earnings ratio of 12.70.
The company also recently announced a quarterly dividend, which is scheduled for Friday, March 15th. Investors of record on Thursday, February 28th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 2.47%. The ex-dividend date is Tuesday, February 26th.
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