CSX Corp. (CSX) PT Raised to $33.00
CSX Corp. (NASDAQ:CSX) had its price target hoisted by research analysts at Cowen and Company from $30.00 to $33.00 in a research note issued on Friday. The brokerage currently has an “outperform” rating on the stock. Cowen and Company’s price objective suggests a potential upside of 6.42% from the company’s current price.
A number of other equities research analysts have also weighed in on the company. Barclays PLC raised CSX Corp. from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $30.00 to $35.00 in a report on Monday, September 12th. BMO Capital Markets reiterated an “outperform” rating and set a $29.00 price target on shares of CSX Corp. in a research report on Thursday, July 7th. Wolfe Research upgraded shares of CSX Corp. from a “market perform” rating to an “outperform” rating and set a $35.00 price target for the company in a research report on Tuesday, September 13th. Citigroup Inc. reiterated a “buy” rating and set a $29.00 price target on shares of CSX Corp. in a research report on Thursday, July 14th. Finally, Bank of America Corp. reiterated a “buy” rating and set a $32.00 price target on shares of CSX Corp. in a research report on Monday, September 12th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and fourteen have issued a buy rating to the company’s stock. CSX Corp. presently has an average rating of “Hold” and an average price target of $29.75.
CSX Corp. (NASDAQ:CSX) opened at 31.01 on Friday. CSX Corp. has a 12 month low of $21.33 and a 12 month high of $31.73. The company has a 50-day moving average price of $29.58 and a 200 day moving average price of $27.52. The stock has a market capitalization of $29.34 billion, a price-to-earnings ratio of 16.93 and a beta of 1.23.
CSX Corp. (NASDAQ:CSX) last announced its quarterly earnings data on Wednesday, October 12th. The company reported $0.48 earnings per share for the quarter, beating the Zacks’ 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 company had revenue of $2.71 billion for the quarter. During the same period in the prior year, the firm posted $0.52 EPS. CSX Corp.’s revenue for the quarter was down 7.8% compared to the same quarter last year. Equities analysts predict that CSX Corp. will post $1.75 earnings per share for the current 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 given a $0.18 dividend. The ex-dividend date of this dividend is Monday, November 28th. This represents a $0.72 dividend on an annualized basis and a yield of 2.32%. CSX Corp.’s payout ratio is currently 40.00%.
In other news, President Clarence W. Gooden sold 17,332 shares of the company’s stock in a transaction dated Monday, September 26th. The shares were sold at an average price of $29.44, for a total value of $510,254.08. Following the sale, the president now owns 127,954 shares in the company, valued at approximately $3,766,965.76. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Clarence W. Gooden sold 16,129 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $3,966,574. The disclosure for this sale can be found here. 0.36% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the stock. Primecap Management Co. CA raised its stake in shares of CSX Corp. by 5.0% in the first quarter. Primecap Management Co. CA now owns 4,793,950 shares of the company’s stock worth $123,444,000 after buying an additional 228,350 shares during the period. Lazard Asset Management LLC raised its stake in shares of CSX Corp. by 16.2% in the first quarter. Lazard Asset Management LLC now owns 28,572,157 shares of the company’s stock worth $735,731,000 after buying an additional 3,977,973 shares during the period. Meeder Asset Management Inc. bought a new stake in shares of CSX Corp. during the first quarter worth about $454,000. Rafferty Asset Management LLC bought a new stake in shares of CSX Corp. during the first quarter worth about $742,000. Finally, State Street Corp raised its stake in shares of CSX Corp. by 3.7% in the first quarter. State Street Corp now owns 39,232,512 shares of the company’s stock worth $1,010,242,000 after buying an additional 1,398,858 shares during the period. Institutional investors and hedge funds own 68.64% 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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