CSX Corp. (CSX) Receives “Buy” Rating from Citigroup Inc.
A number of other research analysts have also weighed in on the company. Barclays PLC raised CSX Corp. from an equal weight rating to an overweight rating and boosted their target price for the stock from $30.00 to $35.00 in a report on Monday, September 12th. BMO Capital Markets reissued an outperform rating and set a $29.00 target price on shares of CSX Corp. in a report on Thursday, July 7th. 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. Bank of America Corp. restated a buy rating and issued a $32.00 price target on shares of CSX Corp. in a research note on Monday, September 12th. Finally, Vertical Research initiated coverage on CSX Corp. in a research note on Tuesday, October 11th. They issued a hold rating for the company. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $29.75.
CSX Corp. (NASDAQ:CSX) traded down 0.226% on Friday, reaching $30.955. The company’s stock had a trading volume of 2,491,893 shares. The company has a 50-day moving average price of $29.50 and a 200 day moving average price of $27.47. CSX Corp. has a 12 month low of $21.33 and a 12 month high of $31.73. The company has a market cap of $29.28 billion, a P/E ratio of 16.897 and a beta of 1.23.
CSX Corp. (NASDAQ:CSX) last posted its earnings results on Wednesday, October 12th. The company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.03. The business had revenue of $2.71 billion for the quarter. CSX Corp. had a return on equity of 14.79% and a net margin of 15.93%. The firm’s revenue was down 7.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.52 earnings per share. On average, equities research analysts anticipate that CSX Corp. will post $1.75 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, November 30th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend is Monday, November 28th. CSX Corp.’s payout ratio is currently 40.00%.
In other news, President Clarence W. Gooden sold 16,129 shares of CSX Corp. stock in a transaction that occurred on Thursday, October 6th. The shares were sold at an average price of $31.00, for a total transaction of $499,999.00. Following the completion of the sale, the president now owns 127,954 shares of the company’s stock, valued at $3,966,574. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Clarence W. Gooden sold 17,332 shares of CSX Corp. stock in a transaction that occurred 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 sale, the president now directly owns 127,954 shares of the company’s stock, valued at approximately $3,766,965.76. The disclosure for this sale can be found here. 0.36% of the stock is currently owned by company insiders.
Several hedge funds have recently bought and sold shares of CSX. Community Bank of Raymore increased its stake in CSX Corp. by 2.5% in the second quarter. Community Bank of Raymore now owns 741,373 shares of the company’s stock valued at $19,328,000 after buying an additional 18,400 shares in the last quarter. Legal & General Group Plc raised its position in shares of CSX Corp. by 1.6% in the first quarter. Legal & General Group Plc now owns 4,290,750 shares of the company’s stock valued at $110,488,000 after buying an additional 66,790 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in shares of CSX Corp. during the first quarter valued at about $454,000. Capital Analysts LLC raised its position in shares of CSX Corp. by 241.5% in the second quarter. Capital Analysts LLC now owns 7,567 shares of the company’s stock valued at $711,000 after buying an additional 5,351 shares during the last quarter. Finally, Simmons Bank acquired a new position in shares of CSX Corp. during the first quarter valued at about $329,000. 68.64% of the stock is owned by hedge funds and other institutional investors.
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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