These Analysts Slash Their Forecasts On CSX After Weak Earnings

Core Viewpoint - CSX Corp. reported weaker-than-expected first-quarter results, with earnings and revenue falling short of analyst estimates [1][2]. Financial Performance - CSX's GAAP earnings for the quarter were 34 cents per share, missing the consensus estimate of 37 cents [1]. - Quarterly revenue was $3.42 billion, below the expected $3.46 billion, primarily due to declines in coal revenue, fuel surcharge, and merchandise volume [1]. Operational Challenges - The company faced operational challenges at the beginning of the year, which contributed to the disappointing results [2]. - CSX is addressing network constraints caused by two major ongoing infrastructure projects [2]. Analyst Reactions - Following the earnings announcement, analysts adjusted their price targets for CSX stock. B of A Securities analyst Ken Hoexter maintained a Neutral rating and lowered the price target from $33 to $30 [7]. - Stifel analyst Benjamin Nolan maintained a Buy rating but reduced the price target from $34 to $33 [7]. Market Response - CSX shares increased by 1.6% to trade at $27.79 on Thursday following the earnings report [2].