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Why CSX Corp (CSX) is Diving in Extended Trading

NEW YORK (TheStreet) -- CSX Corp (CSX - Get Report) is shedding share value in extended trading on Wednesday after missing fourth-quarter and full-year earnings estimates. Shares tumbled 3.4% to $28.25 after the bell after posting a 1.2% gain through the regular trading session.

For the fourth quarter ended December, the ground freighter posted net income of 42 cents a share, 4.5% lower than the year-ago quarter and missing Wall Street consensus by a penny, according to analysts surveyed by Thomson Reuters. Revenue, however, saw a 5% year-on-year increase to $3 billion, broadly in line with analyst expectations.

Over fiscal 2013, the company reported net income of $1.83 a share, 2.2% higher than the year-ago period but one cent lower than anticipated. Revenue increased 2% to a record $12 billion, just $10 million shy of analyst consensus.

TheStreet Ratings team rates CSX CORP as a Buy with a ratings score of A-. The team has this to say about their recommendation:

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"We rate CSX CORP (CSX) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, attractive valuation levels, growth in earnings per share and expanding profit margins. We feel these strengths outweigh the fact that the company shows weak operating cash flow."

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