CSX Corporation (NASDAQ:CSX) shares are trading higher Thursday after the company reported better-than-expected first-quarter earnings per share results on Wednesday after the market closed. Also, Goldman Sachs and B of A Securities raised their respective price targets on the stock.
- CSX shares are testing new highs. Why is CSX stock breaking out?
Q1 Results
CSX reported earnings per share of 43 cents, beating the consensus estimate of 39 cents. In addition, it reported revenue of $3.482 billion, missing the consensus estimate of $3.488 billion, but representing a 2% year-over-year increase.
The company said the increase was driven by higher merchandise pricing, intermodal volume growth, higher domestic coal revenue and increased fuel surcharge revenue. These gains were partially offset by a decrease in export coal revenue, including the impact of lower benchmark rates.
Total volume for the quarter reached 1.56 million units, up 3% compared to the first quarter of 2025.
CEO Steve Angel said the company delivered reliable and efficient service while improving its expense profile and remains focused on disciplined cost management and profitable growth opportunities.
Analyst Consensus & Recent Actions
The stock carries a Hold rating with an average price target of $42.22. Recent analyst moves include:
- Benchmark: Buy (Raises Target to $48.00) (April 23)
- BMO Capital: Market Perform (Raises Target to $45.00) (April 23)
- Goldman Sachs: Neutral (Raises Target to $41.00) (April 23)
- B of A Securities: Buy (Raises Target to $49.00) (April 23)
CSX Pushes Into New Highs As Technical Strength Builds
CSX is pushing deeper into the top of its 52-week range after already setting a 52-week high in April, which points to persistent demand on pullbacks. The stock is trading 9.2% above its 20-day simple moving average (SMA) and 17% above its 100-day SMA, a setup that leans toward a strong short-term and intermediate uptrend at $45.78.
The moving average convergence divergence (MACD), a trend/momentum measure, is above its signal line and the histogram is positive, which is consistent with upward momentum staying in control. That aligns with the earlier bullish MACD cross in July 2025, even though traders will still watch for any loss of momentum after the prior bearish cross in June 2025.
Over the past 12 months, the stock is up 65.23%, which reinforces that the longer-term tape has been rewarding buyers. With price now above the prior 52-week high of $43.80, the next question is whether it can hold those breakout levels on any market wobble.
- Key Resistance: $46.00 — a round-number area where short-term profit-taking can show up.
- Key Support: $38.00 — the clearest "line in the sand" where buyers previously defended the trend.
CSX Shares Rise
CSX Price Action: At the time of publication, CSX shares are trading 6.30% higher at $45.90, according to data from Benzinga Pro.
Image via Shutterstock
Login to comment