CSX Corp.’s (CSX) Market Perform Rating Reaffirmed at Oppenheimer Holdings Inc.
CSX Corp. (NASDAQ:CSX)‘s stock had its “market perform” rating reissued by stock analysts at Oppenheimer Holdings Inc. in a research note issued to investors on Friday.
Several other research analysts also recently weighed in on CSX. Citigroup Inc. reiterated a “buy” rating and issued a $29.00 price target on shares of CSX Corp. in a report on Saturday, June 18th. BMO Capital Markets reiterated an “outperform” rating and issued a $29.00 price target on shares of CSX Corp. in a report on Thursday, July 7th. Stifel Nicolaus downgraded CSX Corp. from a “buy” rating to a “hold” rating in a report on Thursday, July 14th. They noted that the move was a valuation call. Cowen and Company boosted their price target on CSX Corp. from $27.00 to $30.00 and gave the company a “market perform” rating in a report on Friday, July 15th. Finally, Royal Bank Of Canada boosted their price target on CSX Corp. from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Friday, July 15th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and fourteen have assigned a buy rating to the stock. CSX Corp. presently has a consensus rating of “Hold” and a consensus price target of $29.75.
Shares of CSX Corp. (NASDAQ:CSX) opened at 31.025 on Friday. CSX Corp. has a 52 week low of $21.33 and a 52 week high of $31.73. The stock has a 50 day moving average price of $29.50 and a 200 day moving average price of $27.47. The firm has a market capitalization of $29.35 billion, a PE ratio of 16.935 and a beta of 1.23.
CSX Corp. (NASDAQ:CSX) last issued its quarterly earnings data on Wednesday, October 12th. The company reported $0.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.03. CSX Corp. had a return on equity of 14.79% and a net margin of 15.93%. The firm earned $2.71 billion during the quarter. During the same quarter in the prior year, the firm earned $0.52 earnings per share. The company’s revenue for the quarter was down 7.8% on a year-over-year basis. Equities analysts forecast that CSX Corp. will post $1.75 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Wednesday, November 30th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, November 28th. This represents a $0.72 annualized dividend and a yield of 2.32%. CSX Corp.’s dividend payout ratio (DPR) is 40.00%.
In other CSX Corp. news, President Clarence W. Gooden sold 16,129 shares of the firm’s stock in a transaction that occurred on Thursday, October 6th. The shares were sold at an average price of $31.00, for a total value of $499,999.00. Following the sale, the president now owns 127,954 shares in the company, valued at $3,966,574. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Clarence W. Gooden sold 17,332 shares of the firm’s 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 completion of the sale, the president now owns 127,954 shares in the company, valued at approximately $3,766,965.76. The disclosure for this sale can be found here. Corporate insiders own 0.36% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Spirit of America Management Corp NY raised its stake in shares of CSX Corp. by 35.0% in the third quarter. Spirit of America Management Corp NY now owns 13,500 shares of the company’s stock valued at $412,000 after buying an additional 3,500 shares during the last quarter. Charter Trust Co. raised its stake in shares of CSX Corp. by 6.4% in the third quarter. Charter Trust Co. now owns 61,495 shares of the company’s stock valued at $1,876,000 after buying an additional 3,714 shares during the last quarter. National Pension Service raised its stake in shares of CSX Corp. by 8.7% in the third quarter. National Pension Service now owns 700,638 shares of the company’s stock valued at $21,369,000 after buying an additional 55,899 shares during the last quarter. Stock Yards Bank & Trust Co. raised its stake in shares of CSX Corp. by 11.3% in the third quarter. Stock Yards Bank & Trust Co. now owns 16,732 shares of the company’s stock valued at $510,000 after buying an additional 1,700 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. purchased a new stake in shares of CSX Corp. during the third quarter valued at approximately $2,367,000. Institutional investors own 68.55% of the company’s stock.
CSX Corp. Company Profile
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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