CSX Corp. (CSX) Receives New Coverage from Analysts at Vertical Research
Investment analysts at Vertical Research assumed coverage on shares of CSX Corp. (NASDAQ:CSX) in a report released on Tuesday. The firm set a “hold” rating on the stock.
CSX has been the topic of several other reports. Citigroup Inc. upped their price objective on CSX Corp. from $29.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, September 13th. BMO Capital Markets reiterated an “outperform” rating and issued a $29.00 price target on shares of CSX Corp. in a research note on Thursday, July 7th. Bank of America Corp. reiterated a “buy” rating and issued a $32.00 price target on shares of CSX Corp. in a research note on Monday, September 12th. Loop Capital reiterated a “hold” rating and issued a $31.00 price target on shares of CSX Corp. in a research note on Thursday, September 1st. Finally, Wolfe Research upgraded CSX Corp. from a “market perform” rating to an “outperform” rating and set a $35.00 price target for the company in a research note on Tuesday, September 13th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. CSX Corp. presently has an average rating of “Hold” and a consensus price target of $29.54.
CSX Corp. (NASDAQ:CSX) traded down 0.91% on Tuesday, hitting $30.55. The company’s stock had a trading volume of 2,290,278 shares. The firm has a 50 day moving average of $29.23 and a 200-day moving average of $27.36. CSX Corp. has a 12 month low of $21.33 and a 12 month high of $31.31. The stock has a market cap of $28.90 billion, a PE ratio of 16.68 and a beta of 1.23.
CSX Corp. (NASDAQ:CSX) last posted its quarterly earnings results on Wednesday, July 13th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.03. The company had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.69 billion. CSX Corp. had a return on equity of 15.24% and a net margin of 16.07%. The firm’s quarterly revenue was down 11.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.56 EPS. On average, analysts expect that CSX Corp. will post $1.75 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Wednesday, November 30th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend is Monday, November 28th. CSX Corp.’s dividend payout ratio (DPR) is presently 39.13%.
In related news, President Clarence W. Gooden sold 17,332 shares of the business’s stock in a transaction on Monday, September 26th. The shares were sold at an average price of $29.44, for a total transaction of $510,254.08. Following the completion of the transaction, the president now directly owns 127,954 shares in the company, valued at $3,766,965.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.36% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Brick & Kyle Associates boosted its stake in CSX Corp. by 8.1% in the second quarter. Brick & Kyle Associates now owns 4,000 shares of the company’s stock worth $104,000 after buying an additional 300 shares in the last quarter. Washington Trust Bank boosted its stake in CSX Corp. by 7.7% in the third quarter. Washington Trust Bank now owns 3,644 shares of the company’s stock worth $111,000 after buying an additional 259 shares in the last quarter. Advisors Asset Management Inc. bought a new stake in CSX Corp. during the second quarter worth approximately $117,000. WFG Advisors LP boosted its stake in CSX Corp. by 17.1% in the second quarter. WFG Advisors LP now owns 6,537 shares of the company’s stock worth $170,000 after buying an additional 956 shares in the last quarter. Finally, Southeast Asset Advisors Inc. bought a new stake in CSX Corp. during the second quarter worth approximately $200,000. Institutional investors and hedge funds own 68.55% of the company’s stock.
About CSX Corp.
CSX Corporation, together with its subsidiaries, is a transportation company. The Company provides rail-based transportation services, including rail service and the transport of intermodal containers and trailers. The Company serves three lines of business, such as merchandise business, coal business and intermodal business.
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