CSX Corporation (NASDAQ:CSX) reported downbeat third-quarter financial results after Wednesday's closing bell.
CSX reported quarterly GAAP earnings of 46 cents per share, which missed the consensus estimate of 48 cents per share. Quarterly revenue came in at $3.62 billion, also missing the consensus estimate of $3.676 billion. The company said its total volume of 1.59 million units for the quarter was 3% higher as compared to the third quarter of 2023.
"CSX's commitment to excellent service allowed us to deliver meaningful growth in volume, operating income and operating margin in the third quarter," said Joe Hinrichs, CEO of CSX.
CSX shares fell 0.1% to close at $35.47 on Wednesday.
These analysts made changes to their price targets on CSX following earnings announcement.
- BMO Capital analyst Fadi Chamoun maintained CSX with an Outperform and lowered the price target from $40 to $39.
- Evercore ISI Group analyst Jonathan Chappell maintained the stock with an Outperform and slashed the price target from $38 to $37.
- RBC Capital analyst Walter Spracklin maintained CSX with a Sector Perform and lowered the price target from $36 to $35.
- Loop Capital analyst Rick Paterson maintained the stock with a Buy and cut the price target from $43 to $42.
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