Why CSX Stock Is Trading Higher Today

CSX Corp CSX is trading higher Thursday morning after the company announced better-than-expected financial results. 

CSX reported second-quarter earnings of 40 cents per share, which beat the estimate of 37 cents per share. The company reported quarterly revenue of $2.99 billion, which beat the estimate of $2.92 billion.

"These results include benefits from the sale of certain property rights in CSX-owned line segments to the Commonwealth of Virginia for passenger rail operations. The transaction favorably impacted operating income by $349 million, operating ratio by 11.7 percentage points, and earnings per share by $0.12," CSX said via press release. 

Analyst Assessment: RBC Capital analyst Walter Spracklin maintained CSX with an Outperform rating and raised the price target from $36 to $37.

Credit Suisse analyst Allison Landry maintained CSX with an Outperform rating and raised the price target from $38 to $39.

TD Securities analyst Cherilyn Radbourne upgraded CSX from Hold to Buy and raised the price target from $36 to $38.

Price Action: CSX has traded as high as $104.87 and as low as $30.64 over a 52-week period.

At last check Thursday, the stock was up 4.18% at $32.89.