CSX Up 5% After Earnings

Date : 04/17/2019 @ 4:23PM
Source : Dow Jones News
Stock : Csx Corp. (MM) (CSX)
Quote : 79.005  -0.315 (-0.40%) @ 7:02PM

CSX Up 5% After Earnings

CSX Corp. (NASDAQ:CSX)
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By Michael Dabaie

 

CSX Corp. (CSX) shares were trading up 5% to $79.92 Wednesday morning.

The transportation company on Tuesday said first-quarter earnings per share were $1.02, up from 78 cents a year earlier. FactSet consensus was for 91 cents. Revenue was up 5% to $3.01 billion, driven by merchandise volume growth and broad-based pricing gains, the company said. FactSet consensus was $3 billion.

CSX said its operating ratio set a first-quarter record of 59.5%, improved from 63.7% in the prior year.

Credit Suisse raised its price target on CSX to $93 a share from $88 and maintained the company at Outperform.

 

Write to Michael Dabaie at michael.dabaie@wsj.com

 

(END) Dow Jones Newswires

April 17, 2019 11:08 ET (15:08 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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