CSX Corporation (NASDAQ:CSX) Stock Now Rated “Moderate Buy” by Wall Street Brokerages

CSX Corporation (NASDAQ:CSX) has been assigned an average recommendation of “Moderate Buy” from the twenty-six brokerages that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and eighteen have assigned a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $51.06.

Several equities analysts have commented on CSX shares. Citigroup reissued a “cautious” rating on shares of CSX in a research report on Wednesday. Citizens Jmp began coverage on CSX in a report on Wednesday, July 15th. They set a “market perform” rating on the stock. Stifel Nicolaus set a $54.00 price target on CSX in a research report on Thursday, July 23rd. Bank of America reduced their price target on CSX from $56.00 to $55.00 and set a “buy” rating for the company in a research report on Friday, September 18th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $56.00 price target on shares of CSX in a research note on Monday, July 13th.

Insider Buying and Selling

In other CSX news, CAO Angela C. Williams sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $53.29, for a total transaction of $1,598,700.00. Following the completion of the sale, the chief accounting officer owned 10,437 shares of the company’s stock, valued at $556,187.73. This represents a 74.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael S. Burns sold 13,000 shares of the company’s stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $52.68, for a total value of $684,840.00. Following the sale, the senior vice president directly owned 59,643 shares of the company’s stock, valued at $3,141,993.24. The trade was a 17.90% decrease in their position. The SEC filing for this sale provides additional information. 0.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CSX

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

CSX Stock Performance

Shares of CSX opened at $47.26 on Wednesday. The company’s fifty day moving average is $49.01 and its 200-day moving average is $47.06. CSX has a 12 month low of $33.63 and a 12 month high of $53.60. The firm has a market cap of $87.55 billion, a price-to-earnings ratio of 27.32, a price-to-earnings-growth ratio of 2.23 and a beta of 1.21. The company has a quick ratio of 0.72, a current ratio of 0.82 and a debt-to-equity ratio of 1.22.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. CSX had a net margin of 22.21% and a return on equity of 24.98%. The business had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter last year, the firm earned $0.44 EPS. CSX’s revenue for the quarter was up 10.1% on a year-over-year basis. Equities analysts expect that CSX will post 1.99 EPS for the current fiscal year.

CSX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 30th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Monday, November 30th. CSX’s dividend payout ratio (DPR) is presently 32.37%.

Key Stories Impacting CSX

Here are the key news stories impacting CSX this week:

• Positive Sentiment: CSX and the Massachusetts Department of Transportation reached an agreement covering rail upgrades in the Berkshires. The deal is an initial step toward making the Berkshire Flyer passenger service permanent, potentially supporting long-term utilization of CSX’s network and strengthening its relationship with public-sector partners. State, CSX agree to rail upgrades in the Berkshires
• Positive Sentiment: CSX maintained its quarterly dividend at $0.14 per share. The payment is scheduled for December 15 to shareholders of record on November 30, providing continued income support and signaling confidence in the company’s cash-generation capacity. CSX Keeps Quarterly Dividend at $0.14 per Share
• Neutral Sentiment: A report listed CSX short interest at zero shares and a 0.0-day short-interest ratio. Because the figures conflict with the report’s description of a “significant increase” in short interest, the data provide little dependable insight into current investor positioning.
• Negative Sentiment: As Hurricane Isaias approached, Amtrak canceled trains while CSX prepared for the storm. Although preparations may limit damage, severe weather can temporarily disrupt freight operations, delay shipments and increase maintenance costs. Amtrak cancels trains, CSX makes preparations as Hurricane Isaias approaches

About CSX

CSX Corporation (NASDAQ:CSX) is a transportation company that provides rail-based freight services through its principal subsidiary, CSX Transportation. The company moves a broad range of products, including agricultural and food products, chemicals, minerals, forest products, metals, automotive shipments, and consumer goods.

CSX also provides intermodal transportation, connecting rail shipments with trucks, ports, and distribution facilities. Its network serves the eastern United States and reaches parts of Canada, linking major industrial regions, population centers, manufacturing locations, and Atlantic and Gulf Coast ports.

CSX traces its history to the 1980 merger of Chessie System and Seaboard Coast Line Industries.