What Will Happen to CSX Corporation Next? The Stock Just Had Huge Bearish Options Activity

 What Will Happen to CSX Corporation Next? The Stock Just Had Huge Bearish Options Activity

In today’s session CSX Corporation (CSX) recorded an unusually high (3,371) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the May, 2017 put, expecting serious CSX decrease. With 3,371 contracts traded and 354 open interest for the May, 17 contract, it seems this is a quite bearish bet. The option with symbol: CSX170519P00030000 closed last at: $2.15 or 13.7% down. About 4.33M shares traded hands. CSX Corporation (NASDAQ:CSX) has risen 23.50% since March 1, 2016 and is uptrending. It has outperformed by 14.26% the S&P500.

Analysts await CSX Corporation (NASDAQ:CSX) to report earnings on October, 11. They expect $0.46 earnings per share, down 11.54% or $0.06 from last year’s $0.52 per share. CSX’s profit will be $434.16 million for 16.45 P/E if the $0.46 EPS becomes a reality. After $0.47 actual earnings per share reported by CSX Corporation for the previous quarter, Wall Street now forecasts -2.13% negative EPS growth.

CSX Corporation (NASDAQ:CSX) Ratings Coverage

Out of 6 analysts covering CSX Corp (NASDAQ:CSX), 4 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 67% are positive. $33 is the highest target while $25.0 is the lowest. The $27.90 average target is -7.77% below today’s ($30.25) stock price. CSX Corp has been the topic of 11 analyst reports since January 4, 2016 according to StockzIntelligence Inc. As per Tuesday, February 23, the company rating was upgraded by Bank of America. Argus Research maintained CSX Corporation (NASDAQ:CSX) on Tuesday, January 19 with “Buy” rating. The firm has “Outperform” rating given on Thursday, January 14 by RBC Capital Markets. The firm has “Market Perform” rating given on Thursday, January 14 by Cowen & Co.

Insitutional Activity: The institutional sentiment increased to 0.95 in 2016 Q2. Its up 0.08, from 0.87 in 2016Q1. The ratio improved, as 53 funds sold all CSX Corporation shares owned while 275 reduced positions. 64 funds bought stakes while 246 increased positions. They now own 639.14 million shares or 2.82% less from 657.68 million shares in 2016Q1.
Logan holds 0.29% or 130,117 shares in its portfolio. Seaward Ltd Partnership owns 20,890 shares or 0.03% of their US portfolio. Pinnacle Prns Inc owns 41,236 shares or 0.27% of their US portfolio. Private Na reported 26,391 shares or 0.18% of all its holdings. Aperio Grp Ltd Liability Com has invested 0.09% of its portfolio in CSX Corporation (NASDAQ:CSX). Segall Bryant & Hamill Lc holds 0.01% or 9,950 shares in its portfolio. Cap Fund Sa, a France-based fund reported 514,671 shares. Butensky And Cohen Security Inc, a Florida-based fund reported 54,477 shares. Earnest Partners Limited Liability Corp holds 0.32% or 1.14M shares in its portfolio. Ameriprise Financial has invested 0.06% of its portfolio in CSX Corporation (NASDAQ:CSX). Brookfield Asset Mgmt holds 155,773 shares or 0.02% of its portfolio. Invest Of Virginia Limited Liability Company owns 12,670 shares or 0.08% of their US portfolio. Telemus Cap Lc holds 0.09% or 26,949 shares in its portfolio. State Bank Of America Corp De accumulated 0.05% or 7.75M shares. Donaldson Limited Liability Company has 16,122 shares for 0.06% of their US portfolio.

Insider Transactions: Since September 26, 2016, the stock had 0 buys, and 1 sale for $510,184 net activity. 17,332 shares were sold by GOODEN CLARENCE W, worth $510,184 on Monday, September 26.

CSX Corporation, together with its subsidiaries, is a transportation company. The company has a market cap of $28.56 billion. The Firm provides rail transportation services, including rail service and the transport of intermodal containers and trailers. It has a 16.53 P/E ratio. The Firm serves three lines of business, such as merchandise business, coal business and intermodal business.

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