Somewhat Positive Media Coverage Somewhat Unlikely to Impact CSX Corporation (CSX) Stock Price
Headlines about CSX Corporation (NASDAQ:CSX) have been trending somewhat positive this week, according to Accern. The research group identifies negative and positive news coverage by analyzing more than twenty million news and blog sources in real time. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. CSX Corporation earned a media sentiment score of 0.24 on Accern’s scale. Accern also gave news coverage about the transportation company an impact score of 45.9878880641206 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the next few days.
Here are some of the media stories that may have effected Accern’s analysis:
- Noteworthy Thursday Option Activity: CSX, QCOM, NFX (stockoptionschannel.com)
- CSX cancels appearance at Morgan Stanley conference due to Irma (reuters.com)
- Which US Railroad Posted Highest Intermodal Revenue Growth in 2Q17? (finance.yahoo.com)
- [$$] A CSX Options Strategy to Keep You on Track (finance.yahoo.com)
- CSX resumes normal train operations into parts of Georgia (nasdaq.com)
A number of research analysts have weighed in on the company. Zacks Investment Research upgraded CSX Corporation from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a research note on Tuesday, July 11th. BMO Capital Markets restated a “buy” rating on shares of CSX Corporation in a research note on Wednesday, August 30th. Credit Suisse Group decreased their price target on CSX Corporation from $61.00 to $60.00 and set an “outperform” rating for the company in a research note on Thursday, September 7th. Royal Bank Of Canada decreased their price target on CSX Corporation from $65.00 to $64.00 and set an “outperform” rating for the company in a research note on Thursday, September 7th. Finally, BidaskClub downgraded CSX Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, August 19th. Twelve equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. CSX Corporation presently has an average rating of “Buy” and a consensus price target of $54.13.
CSX Corporation (NASDAQ:CSX) traded up 0.02% during trading on Thursday, hitting $52.08. The stock had a trading volume of 5,714,768 shares. The company has a 50-day moving average of $49.97 and a 200-day moving average of $50.63. The stock has a market capitalization of $47.57 billion, a P/E ratio of 27.24 and a beta of 1.30. CSX Corporation has a 52 week low of $28.87 and a 52 week high of $55.48.
CSX Corporation (NASDAQ:CSX) last posted its quarterly earnings results on Tuesday, July 18th. The transportation company reported $0.64 EPS for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.05. CSX Corporation had a return on equity of 16.93% and a net margin of 15.46%. The firm had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.85 billion. During the same period last year, the company earned $0.47 earnings per share. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, equities analysts expect that CSX Corporation will post $2.22 earnings per share for the current fiscal year.
CSX Corporation announced that its Board of Directors has initiated a share buyback program on Tuesday, July 18th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the transportation company to buy up to 1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be given a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.54%. CSX Corporation’s dividend payout ratio (DPR) is presently 41.88%.
In other CSX Corporation news, Director Ridge Lp Mantle acquired 1,357,000 shares of the stock in a transaction that occurred on Friday, July 21st. The shares were bought at an average price of $51.59 per share, for a total transaction of $70,007,630.00. Following the completion of the transaction, the director now owns 106 shares of the company’s stock, valued at approximately $5,468.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 4.79% of the company’s stock.
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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