CSX Corp. (CSX) Rating Lowered to Hold at Vetr Inc.
CSX Corp. (NASDAQ:CSX) was downgraded by research analysts at Vetr from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday. They currently have a $33.60 price target on the stock. Vetr‘s price target suggests a potential downside of 2.69% from the company’s previous close.
Several other equities analysts have also issued reports on CSX. Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of CSX Corp. in a research note on Sunday, July 17th. Cowen and Company reiterated a “hold” rating on shares of CSX Corp. in a research note on Sunday, July 17th. BMO Capital Markets reiterated an “outperform” rating and issued a $32.00 price target (up previously from $29.00) on shares of CSX Corp. in a research note on Friday, July 15th. Deutsche Bank AG reiterated a “hold” rating and issued a $29.00 price target (up previously from $27.00) on shares of CSX Corp. in a research note on Friday, July 15th. Finally, Argus reiterated a “buy” rating and issued a $35.00 price target on shares of CSX Corp. in a research note on Friday, July 15th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and fifteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $30.43.
CSX Corp. (NASDAQ:CSX) opened at 34.53 on Wednesday. The company has a market capitalization of $32.34 billion, a PE ratio of 19.22 and a beta of 1.11. The stock’s 50 day moving average is $30.79 and its 200-day moving average is $28.20. CSX Corp. has a 12 month low of $21.33 and a 12 month high of $34.75.
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 Thomson Reuters’ consensus estimate of $0.45 by $0.03. The firm earned $2.71 billion during the quarter. CSX Corp. had a return on equity of 14.79% and a net margin of 15.93%. CSX Corp.’s revenue was down 7.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.52 earnings per share. On average, analysts expect that CSX Corp. will post $1.79 EPS 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 issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.09%. The ex-dividend date is Monday, November 28th. CSX Corp.’s dividend payout ratio (DPR) is 40.00%.
In other CSX Corp. news, Chairman Michael J. Ward sold 300,000 shares of the stock in a transaction on Monday, October 17th. The stock was sold at an average price of $30.97, for a total transaction of $9,291,000.00. Following the completion of the transaction, the chairman now directly owns 198,742 shares of the company’s stock, valued at $6,155,039.74. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Clarence W. Gooden sold 16,129 shares of the stock in a transaction 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 transaction, the president now directly owns 127,954 shares of the company’s stock, valued at $3,966,574. The disclosure for this sale can be found here. Company insiders own 0.36% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Janus Capital Management LLC increased its stake in CSX Corp. by 2,956.3% in the second quarter. Janus Capital Management LLC now owns 8,445,436 shares of the company’s stock valued at $220,257,000 after buying an additional 8,169,105 shares in the last quarter. OMERS ADMINISTRATION Corp bought a new stake in CSX Corp. during the second quarter valued at about $132,518,000. Cambiar Investors LLC bought a new stake in CSX Corp. during the second quarter valued at about $58,924,000. Bank of Montreal Can bought a new stake in CSX Corp. during the second quarter valued at about $52,018,000. Finally, Emerald Acquisition Ltd. bought a new stake in CSX Corp. during the second quarter valued at about $44,204,000. 69.42% of the stock is owned by institutional investors and hedge funds.
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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