CSX Corp. (NASDAQ:CSX)‘s stock had its “overweight” rating reissued by analysts at Barclays PLC in a research report issued on Saturday. They currently have a $35.00 price target on the stock. Barclays PLC’s target price indicates a potential upside of 12.81% from the stock’s previous close.
Other equities analysts have also issued reports about the stock. JPMorgan Chase & Co. reissued a “buy” rating on shares of CSX Corp. in a research report on Friday, July 15th. Argus reissued a “buy” rating and set a $35.00 price target on shares of CSX Corp. in a research report on Friday, July 15th. Citigroup Inc. reissued a “buy” rating and set a $29.00 price target on shares of CSX Corp. in a research report on Thursday, July 14th. Bank of America Corp. reissued a “buy” rating and set a $32.00 price target on shares of CSX Corp. in a research report on Monday, September 12th. Finally, Credit Suisse Group AG reissued a “buy” rating on shares of CSX Corp. in a research report on Tuesday, September 13th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have issued a buy rating to the company. CSX Corp. has an average rating of “Hold” and an average price target of $29.75.
CSX Corp. (NASDAQ:CSX) opened at 31.025 on Friday. The company’s 50 day moving average is $29.50 and its 200-day moving average is $27.47. CSX Corp. has a 12 month low of $21.33 and a 12 month high of $31.73. The company has a market cap of $29.35 billion, a price-to-earnings ratio of 16.935 and a beta of 1.23.
CSX Corp. (NASDAQ:CSX) last posted its quarterly earnings results on Wednesday, October 12th. The company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.03. CSX Corp. had a net margin of 15.93% and a return on equity of 14.79%. The company earned $2.71 billion during the quarter. During the same period in the prior year, the business posted $0.52 earnings per share. The business’s quarterly revenue was down 7.8% compared to the same quarter last year. On average, analysts expect that CSX Corp. will post $1.75 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders 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 dividend on an annualized basis and a yield of 2.32%. CSX Corp.’s dividend payout ratio (DPR) is presently 40.00%.
In other CSX Corp. news, President Clarence W. Gooden sold 17,332 shares of the business’s stock in a transaction dated Monday, September 26th. The shares were sold at an average price of $29.44, for a total transaction of $510,254.08. Following the sale, the president now directly owns 127,954 shares in the company, valued at $3,766,965.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Clarence W. Gooden sold 16,129 shares of the business’s stock in a transaction dated Thursday, October 6th. The stock was sold at an average price of $31.00, for a total transaction of $499,999.00. Following the sale, the president now owns 127,954 shares in the company, valued at $3,966,574. The disclosure for this sale can be found here. Company insiders own 0.36% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Primecap Management Co. CA raised its stake in 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 last quarter. Lazard Asset Management LLC raised its stake in 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 last quarter. Meeder Asset Management Inc. purchased a new stake in CSX Corp. during the first quarter worth $454,000. Rafferty Asset Management LLC purchased a new stake in CSX Corp. during the first quarter worth $742,000. Finally, State Street Corp raised its stake in 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 last quarter. Institutional investors own 68.55% 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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