CSX Corp. (NASDAQ:CSX) had its price target hoisted by Cowen and Company from $30.00 to $33.00 in a research report report published on Friday. Cowen and Company currently has an outperform rating on the stock.
CSX has been the subject of a number of other reports. Citigroup Inc. boosted their price target on CSX Corp. from $29.00 to $32.00 and gave the company a buy rating in a report on Tuesday, September 13th. BMO Capital Markets restated an outperform rating and set a $29.00 price objective on shares of CSX Corp. in a research note on Thursday, July 7th. Bank of America Corp. restated a buy rating and set a $32.00 price objective on shares of CSX Corp. in a research note on Monday, September 12th. Loop Capital restated a hold rating and set a $31.00 price objective on shares of CSX Corp. in a research note on Thursday, September 1st. Finally, Wolfe Research upgraded CSX Corp. from a market perform rating to an outperform rating and set a $35.00 price objective for the company in a research note on Tuesday, September 13th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have given a buy rating to the company. CSX Corp. presently has an average rating of Hold and an average price target of $29.96.
Shares of CSX Corp. (NASDAQ:CSX) opened at 31.02 on Friday. The firm has a 50-day moving average price of $29.65 and a 200-day moving average price of $27.56. CSX Corp. has a 12-month low of $21.33 and a 12-month high of $31.73. The firm has a market cap of $29.34 billion, a P/E ratio of 16.93 and a beta of 1.23.
CSX Corp. (NASDAQ:CSX) last issued its quarterly earnings results on Wednesday, October 12th. The company reported $0.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.03. CSX Corp. had a return on equity of 14.79% and a net margin of 15.93%. The business earned $2.71 billion during the quarter. During the same quarter last year, the firm posted $0.52 earnings per share. CSX Corp.’s revenue was down 7.8% compared to the same quarter last year. On average, equities research analysts expect that CSX Corp. will post $1.75 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, November 30th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.32%. The ex-dividend date is Monday, November 28th. CSX Corp.’s payout ratio is currently 40.00%.
In other news, President Clarence W. Gooden sold 17,332 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $3,766,965.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Clarence W. Gooden sold 16,129 shares of the stock in a transaction dated 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 directly 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 hedge funds and other institutional investors have recently modified their holdings of the stock. Janus Capital Management LLC raised its position in shares of CSX Corp. by 2,956.3% in the second quarter. Janus Capital Management LLC now owns 8,445,436 shares of the company’s stock worth $220,257,000 after buying an additional 8,169,105 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of CSX Corp. by 20.1% in the first quarter. Wellington Management Group LLP now owns 37,879,182 shares of the company’s stock valued at $975,389,000 after buying an additional 6,331,519 shares during the last quarter. OMERS ADMINISTRATION Corp acquired a new stake in shares of CSX Corp. during the second quarter valued at $132,518,000. Lazard Asset Management LLC increased its stake in shares of CSX Corp. by 16.2% in the first quarter. Lazard Asset Management LLC now owns 28,572,157 shares of the company’s stock valued at $735,731,000 after buying an additional 3,977,973 shares during the last quarter. Finally, Pictet Asset Management Ltd. increased its stake in shares of CSX Corp. by 664.9% in the first quarter. Pictet Asset Management Ltd. now owns 3,915,310 shares of the company’s stock valued at $94,516,000 after buying an additional 3,403,446 shares during the last quarter. 68.64% of the stock is currently owned by institutional investors and hedge funds.
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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