CSX Corporation (NASDAQ:CSX) Earns “Buy” Rating from Royal Bank Of Canada
CSX Corporation (NASDAQ:CSX)‘s stock had its “buy” rating reiterated by analysts at Royal Bank Of Canada in a report issued on Wednesday, July 12th. They currently have a $65.00 target price on the transportation company’s stock. Royal Bank Of Canada’s target price suggests a potential upside of 31.00% from the company’s current price.
Several other research firms have also commented on CSX. Stifel Nicolaus increased their price target on shares of CSX Corporation from $47.00 to $50.00 and gave the company a “hold” rating in a research report on Thursday, April 20th. Cowen and Company reiterated a “market perform” rating and issued a $54.00 price target (up from $48.00) on shares of CSX Corporation in a research report on Sunday, April 23rd. Loop Capital reissued a “hold” rating on shares of CSX Corporation in a research note on Saturday, March 25th. Barclays PLC upped their price objective on shares of CSX Corporation from $4.00 to $55.00 and gave the company an “overweight” rating in a research note on Friday, March 24th. Finally, Aegis raised shares of CSX Corporation from a “hold” rating to a “buy” rating and upped their price objective for the company from $50.00 to $64.00 in a research note on Friday, April 21st. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nineteen have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $53.74.
Shares of CSX Corporation (NASDAQ:CSX) opened at 49.62 on Wednesday. The company has a market cap of $45.32 billion, a price-to-earnings ratio of 25.95 and a beta of 1.30. CSX Corporation has a 12-month low of $27.82 and a 12-month high of $55.48. The firm has a 50 day moving average price of $52.99 and a 200-day moving average price of $49.96.
CSX Corporation (NASDAQ:CSX) last issued its earnings results on Tuesday, July 18th. The transportation company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.05. CSX Corporation had a net margin of 15.46% and a return on equity of 16.93%. The company had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.85 billion. During the same period in the prior year, the business posted $0.47 earnings per share. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. On average, equities analysts expect that CSX Corporation will post $2.30 earnings per share for the current fiscal year.
CSX Corporation declared that its board has authorized a stock repurchase program on Thursday, April 20th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the transportation company to purchase up to 2.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.
In other news, Director Ridge Lp Mantle bought 1,357,000 shares of the company’s stock in a transaction dated Friday, July 21st. The shares were acquired at an average cost of $51.59 per share, with a total value of $70,007,630.00. Following the completion of the transaction, the director now directly owns 106 shares in the company, valued at approximately $5,468.54. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 4.79% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Trust Co increased its position in CSX Corporation by 2.0% in the fourth quarter. Trust Co now owns 24,070 shares of the transportation company’s stock valued at $865,000 after buying an additional 470 shares during the period. Chevy Chase Trust Holdings Inc. increased its position in CSX Corporation by 1.9% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 847,232 shares of the transportation company’s stock valued at $39,439,000 after buying an additional 16,167 shares during the period. Philadelphia Trust Co. increased its position in shares of CSX Corporation by 2.2% in the fourth quarter. Philadelphia Trust Co. now owns 14,089 shares of the transportation company’s stock worth $506,000 after buying an additional 300 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of CSX Corporation during the fourth quarter worth approximately $1,090,000. Finally, Kentucky Retirement Systems bought a new position in shares of CSX Corporation during the fourth quarter worth approximately $2,442,000. 70.02% of the stock is currently owned by institutional investors and hedge funds.
CSX Corporation Company Profile
CSX Corporation is a transportation company. The Company provides rail-based freight transportation services, including traditional rail service and transport of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations.
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