CSX Corp. (NASDAQ:CSX) has been assigned an average recommendation of “Hold” from the twenty-nine research firms that are covering the firm. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have given a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $30.53.
A number of equities analysts have issued reports on the company. Citigroup Inc. reaffirmed a “buy” rating and issued a $34.00 target price on shares of CSX Corp. in a research report on Friday, October 14th. Cowen and Company upped their price target on CSX Corp. from $30.00 to $33.00 and gave the company an “outperform” rating in a research report on Friday, October 14th. Oppenheimer Holdings Inc. reissued a “market perform” rating on shares of CSX Corp. in a research report on Friday, October 14th. Barclays PLC reissued an “overweight” rating and set a $35.00 price target on shares of CSX Corp. in a research report on Saturday. Finally, Seaport Global Securities initiated coverage on CSX Corp. in a research report on Wednesday. They set a “neutral” rating and a $31.00 price target on the stock.
Shares of CSX Corp. (NASDAQ:CSX) traded up 0.64% during mid-day trading on Wednesday, reaching $31.22. 3,503,690 shares of the company’s stock traded hands. The firm has a market cap of $29.53 billion, a price-to-earnings ratio of 17.04 and a beta of 1.23. The firm’s 50-day moving average is $29.65 and its 200 day moving average is $27.56. CSX Corp. has a one year low of $21.33 and a one year high of $31.73.
CSX Corp. (NASDAQ:CSX) last announced its earnings results on Wednesday, October 12th. The company reported $0.48 earnings per share (EPS) 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 previous year, the company earned $0.52 earnings per share. The business’s revenue for the quarter was down 7.8% on a year-over-year basis. Analysts predict that CSX Corp. will post $1.75 earnings per share for the current year.
The company also recently announced 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 is currently 40.00%.
In related news, President Clarence W. Gooden sold 17,332 shares of the firm’s stock in a transaction dated Monday, September 26th. The stock was sold at an average price of $29.44, for a total transaction of $510,254.08. Following the completion of the transaction, the president now owns 127,954 shares of the company’s stock, valued at $3,766,965.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Michael J. Ward sold 300,000 shares of the company’s stock in a transaction on Monday, October 17th. The shares were sold at an average price of $30.97, for a total value of $9,291,000.00. Following the sale, the chairman now directly owns 198,742 shares of the company’s stock, valued at $6,155,039.74. The disclosure for this sale can be found here. Corporate insiders own 0.36% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Janus Capital Management LLC increased its stake in shares of 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. Wellington Management Group LLP increased its stake in shares of CSX Corp. by 20.1% in the first quarter. Wellington Management Group LLP now owns 37,879,182 shares of the company’s stock valued at $975,389,000 after buying an additional 6,331,519 shares in the last quarter. OMERS ADMINISTRATION Corp acquired a new stake in shares of CSX Corp. during the second quarter valued at about $132,518,000. Lazard Asset Management LLC increased 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 valued at $735,731,000 after buying an additional 3,977,973 shares in the last quarter. Finally, Pictet Asset Management Ltd. increased its stake in shares of CSX Corp. by 664.9% in the first quarter. Pictet Asset Management Ltd. now owns 3,915,310 shares of the company’s stock valued at $94,516,000 after buying an additional 3,403,446 shares in the last quarter. 68.64% of the stock is owned by institutional investors and hedge funds.
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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