Oppenheimer Initiates Coverage on CSX Corporation to Market Perform

Oppenheimer Initiates Coverage on CSX Corporation(NASDAQ:CSX). The shares have been rated Market Perform. The rating by Oppenheimer was issued on Jun 16, 2016.

In a different note, CLSA said it Initiates Coverage on CSX Corporation, according to a research note issued on May 19, 2016. The shares have been rated ‘Underperform’ by the firm.

CSX Corporation (CSX) shares turned negative on Tuesdays trading session with the shares closing down -0.37 points or -1.37% at a volume of 76,24,066. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $26.835. The peak price level was also seen at $26.835 while the days lowest was $26.35. Finally the shares closed at $26.63. The 52-week high of the shares is $35.43 while the 52-week low is $21.325. According to the latest information available, the market cap of the company is $25,455 M.

CSX Corporation(CSX) last announced its earnings results on Jan 12, 2016 for Fiscal Year 2015 and Q4.Company reported revenue of $2.78B. Analysts had an estimated revenue of $2.87B. Earnings per share were $0.48. Analysts had estimated an EPS of $0.46.

Several Insider Transactions has been reported to the SEC. On Sep 3, 2015, David M Ratcliffe (director) purchased 1,868 shares at $26.84 per share price.Also, On May 8, 2015, Fredrik J Eliasson (EVP & Chief Financial Officer) sold 30,000 shares at $35.48 per share price.On Apr 20, 2015, Gilbert H Lamphere (director) sold 165,556 shares at $32.38 per share price, according to the Form-4 filing with the securities and exchange commission.

CSX Corporation (CSX) together with its subsidiaries is a transportation company. The Company provides rail-based transportation services including traditional rail service and the transport of intermodal containers and trailers. The Company has three lines of business: merchandise business coal business and the intermodal business. The Company’s merchandise business transports aggregates (which include crushed stone sand and gravel) metal phosphate fertilizer food consumer (manufactured goods and appliances) agricultural automotive paper and chemical products. Its coal business transports domestic coal coke and iron ore to electricity-generating power plants steel manufacturers and industrial plants as well as export coal to deep-water port facilities. Through a network of around 50 terminals the intermodal business serves markets east of the Mississippi and transports manufactured consumer goods in containers providing truck-like services for longer shipments.

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