CSX Corp. (CSX) Rating Reiterated by Citigroup Inc.
CSX Corp. (NASDAQ:CSX)‘s stock had its “buy” rating restated by stock analysts at Citigroup Inc. in a report issued on Friday. They presently have a $34.00 target price on the stock. Citigroup Inc.’s price target suggests a potential upside of 9.64% from the company’s current price.
Several other equities research analysts have also commented on the stock. Barclays PLC raised shares of CSX Corp. from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $30.00 to $35.00 in a research report on Monday, September 12th. BMO Capital Markets reissued an “outperform” rating and issued a $29.00 target price on shares of CSX Corp. in a report on Thursday, July 7th. Wolfe Research raised shares of CSX Corp. from a “market perform” rating to an “outperform” rating and set a $35.00 target price for the company in a report on Tuesday, September 13th. Bank of America Corp. reissued a “buy” rating and issued a $32.00 target price on shares of CSX Corp. in a report on Monday, September 12th. Finally, Vertical Research initiated coverage on shares of CSX Corp. in a report on Tuesday, October 11th. They issued a “hold” rating for the company. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have given a buy rating to the company. CSX Corp. currently has a consensus rating of “Hold” and a consensus target price of $29.75.
Shares of CSX Corp. (NASDAQ:CSX) opened at 31.01 on Friday. CSX Corp. has a one year low of $21.33 and a one year high of $31.73. The stock has a 50 day moving average of $29.58 and a 200-day moving average of $27.52. The company 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 released its quarterly earnings results on Wednesday, October 12th. The company reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.03. CSX Corp. had a net margin of 15.93% and a return on equity of 14.79%. The firm earned $2.71 billion during the quarter. During the same period in the previous year, the company earned $0.52 EPS. CSX Corp.’s revenue for the quarter was down 7.8% compared to the same quarter last year. On average, equities analysts expect that CSX Corp. will post $1.75 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, November 30th will be paid 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 40.00%.
In other news, President Clarence W. Gooden sold 17,332 shares of the firm’s stock in a transaction on Monday, September 26th. The stock was sold at an average price of $29.44, for a total transaction of $510,254.08. Following the transaction, the president now owns 127,954 shares in the company, valued at $3,766,965.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Clarence W. Gooden sold 16,129 shares of the firm’s 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 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 owned by company insiders.
Several institutional investors have recently made changes to their positions in CSX. Brick & Kyle Associates raised its position in shares of CSX Corp. by 8.1% in the second quarter. Brick & Kyle Associates now owns 4,000 shares of the company’s stock valued at $104,000 after buying an additional 300 shares in the last quarter. Washington Trust Bank raised its position in shares of CSX Corp. by 7.7% in the third quarter. Washington Trust Bank now owns 3,644 shares of the company’s stock valued at $111,000 after buying an additional 259 shares in the last quarter. Advisors Asset Management Inc. purchased a new position in shares of CSX Corp. during the second quarter valued at approximately $117,000. Community Bank N.A. raised its position in shares of CSX Corp. by 19.9% in the third quarter. Community Bank N.A. now owns 4,300 shares of the company’s stock valued at $132,000 after buying an additional 715 shares in the last quarter. Finally, WFG Advisors LP raised its position in shares of CSX Corp. by 17.1% in the second quarter. WFG Advisors LP now owns 6,537 shares of the company’s stock valued at $170,000 after buying an additional 956 shares in the last quarter. Hedge funds and other institutional investors own 68.64% of the company’s stock.
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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