Technical Report on CSX Corp (NYSE:CSX)

[EDGAR] CSX Corp (NYSE:CSX)(TREND ANALYSIS) On May 21, 2015, CSX Corporation (“CSX”) entered into a new $1 billion five-year senior unsecured revolving credit agreement (the “Credit Agreement”) by and among CSX, as borrower, the lenders party thereto (the “Lenders”), and JPMorgan Chase Bank, N.A., as administrative agent. The Credit Agreement replaces the Prior Credit Agreement (as defined below).

The Credit Agreement contains customary representations and warranties and events of default. As of the date of this Current Report on Form 8-K, there were no outstanding borrowings under the Credit Agreement.

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CSX Corp (NYSE:CSX) is currently trading 10.24% below its 52-week-high, 17.71% above its 52-week-low. The 1-year range for the stock is $28.97 – $37.99. CSX Corp (CSX) has a price to earnings ratio of 17.3 versus Services sector average of 25.32. CSX stock price has underperformed the S&P 500 by 7.9%. The Transport & Rail company is currently valued at $33.69 billion and its share price closed the last trading session at $34.1. The stock has a 50-day moving average of $35.38 and a 200-day moving average of $35.09.

CSX Corp (CSX) current short interest stands at 16.64 million shares. It has increased by 89% from the same period of last month. Around 2% of the company’s shares, which are float, are short sold. With a 10-days average volume of 6.64 million shares, the number of days required to cover the short positions stand at 2.6 days.

The company is expected to announce next quarter earnings on July 21, at consensus estimate of $0.54. CSX Corp (CSX) reported last quarter earnings on April 14. The Transport & Rail company announced earnings per share of $0.45 against a consensus Street estimate of $0.45, matching the average estimate. This corresponds to an increase of $0.05 compared to the same quarter of the previous fiscal year.

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There are currently twenty-eight analysts that cover CSX stock. Of those twenty-eight, eleven have a Buy rating, seventeen have a Hold rating. On a consensus basis this yields to an Overweight rating. The consensus target price stands at $36.41.

The most recent analyst activity consisted of Deutsche Bank reiterating their Hold stance on April 16. Deutsche Bank decreased price target from $37 to $36. This corresponds to a 5.57% upside from the last closing price. On the date of report, the stock closed at $32.25.

Baird reiterated their Outperform stance on the same day, and decreased their price target from $38 to $37. This corresponds to a 8.5% upside from the last closing price. On the date of report, the stock closed at $32.25.

Another research firm was BMO Capital who reiterated their Outperform stance on April 16. BMO Capital decreased price target from $40 to $39. This translates to a 14.37% upside from the last closing price. On the date of report, the stock closed at $32.25.

Company profile

CSX Corporation is an international freight transportation company. The Company provides rail, intermodal, domestic container-shipping, barging, and contract logistics services around the world. CSX’s rail transportation services are provided principally throughout the eastern United States.

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