CSX Corporation (NASDAQ:CSX) Receives Consensus Rating of “Moderate Buy” from Brokerages

CSX Corporation (NASDAQ:CSX) has earned a consensus rating of “Moderate Buy” from the twenty-six analysts that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and eighteen have issued a buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $51.3148.

A number of analysts have weighed in on CSX shares. Robert W. Baird increased their price target on CSX from $49.00 to $53.00 and gave the stock an “outperform” rating in a report on Tuesday, July 7th. Argus set a $56.00 price objective on shares of CSX in a report on Friday, July 31st. Barclays reissued an “overweight” rating and issued a $60.00 price objective (up from $55.00) on shares of CSX in a research note on Thursday, July 23rd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $59.00 price target on shares of CSX in a research report on Friday, July 24th. Finally, Bank of America boosted their price objective on CSX from $53.00 to $56.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd.

Insider Transactions at CSX

In other news, CFO Kevin S. Boone sold 136,708 shares of the company’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $46.70, for a total transaction of $6,384,263.60. Following the transaction, the chief financial officer owned 208,622 shares of the company’s stock, valued at $9,742,647.40. This represents a 39.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Angela C. Williams sold 30,000 shares of the stock in a transaction on Friday, July 24th. The stock was sold at an average price of $53.29, for a total value of $1,598,700.00. Following the transaction, the chief accounting officer owned 10,437 shares of the company’s stock, valued at $556,187.73. The trade was a 74.19% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 189,708 shares of company stock valued at $9,132,304. Corporate insiders own 0.30% of the company’s stock.

Institutional Trading of CSX

Several hedge funds and other institutional investors have recently modified their holdings of CSX. Archer Investment Corp bought a new position in CSX in the 2nd quarter worth approximately $26,000. N.E.W. Advisory Services LLC bought a new stake in CSX during the 2nd quarter valued at $27,000. Pin Oak Investment Advisors Inc. bought a new stake in CSX during the 2nd quarter valued at $29,000. Manning & Napier Advisors LLC purchased a new stake in shares of CSX during the second quarter worth $30,000. Finally, Arlington Trust Co LLC lifted its position in shares of CSX by 58.0% during the second quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company’s stock worth $32,000 after acquiring an additional 250 shares in the last quarter. Institutional investors own 73.57% of the company’s stock.

CSX Trading Down 0.3%

CSX opened at $51.44 on Tuesday. The firm has a market capitalization of $95.29 billion, a price-to-earnings ratio of 29.73, a PEG ratio of 2.36 and a beta of 1.21. CSX has a fifty-two week low of $31.80 and a fifty-two week high of $53.60. The company’s 50 day moving average price is $49.46 and its two-hundred day moving average price is $45.28. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.82 and a quick ratio of 0.72.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.02. The company had revenue of $3.94 billion during the quarter, compared to analysts’ expectations of $3.89 billion. CSX had a return on equity of 24.98% and a net margin of 22.21%.The business’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.44 earnings per share. As a group, research analysts predict that CSX will post 2 earnings per share for the current year.

CSX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Monday, August 31st. CSX’s dividend payout ratio is 32.37%.

CSX Company Profile

CSX Corporation is a leading North American transportation company that provides rail-based freight services and supply-chain solutions. Its operating subsidiary, CSX Transportation, moves a wide range of goods for customers across multiple industries, using a combination of long-haul rail service, intermodal operations and terminal and yard services. The company focuses on delivering efficient, reliable freight transportation between major production centers, consumption markets and port gateways.

CSX’s freight portfolio includes intermodal containers and trailers, bulk commodities, industrial products and specialized unit trains.