CSX Corporation (NASDAQ:CSX) Receives Average Rating of “Moderate Buy” from Analysts

CSX Corporation (NASDAQ:CSX) has been assigned an average rating of “Moderate Buy” from the twenty-five analysts that are presently covering the company, Marketbeat.com reports. Nine investment analysts have rated the stock with a hold recommendation and sixteen have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $45.42.

CSX has been the subject of several research reports. Barclays reiterated an “overweight” rating and issued a $47.00 target price (up from $40.00) on shares of CSX in a report on Thursday, April 23rd. Argus upped their target price on CSX from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday, January 27th. Sanford C. Bernstein upped their target price on CSX from $36.00 to $39.00 and gave the stock a “market perform” rating in a report on Tuesday, March 31st. Bank of America upped their price objective on CSX from $46.00 to $49.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Finally, Raymond James Financial upped their price objective on CSX from $45.00 to $49.00 and gave the stock an “outperform” rating in a research note on Thursday, April 23rd.

CSX Price Performance

Shares of CSX stock opened at $45.66 on Friday. CSX has a twelve month low of $30.17 and a twelve month high of $46.55. The stock has a market capitalization of $84.84 billion, a price-to-earnings ratio of 28.01, a P/E/G ratio of 2.38 and a beta of 1.24. The stock has a fifty day simple moving average of $42.20 and a two-hundred day simple moving average of $38.98. The company has a current ratio of 0.97, a quick ratio of 0.83 and a debt-to-equity ratio of 1.34.

CSX (NASDAQ:CSX) last issued its earnings results on Wednesday, April 22nd. The transportation company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.04. CSX had a return on equity of 24.47% and a net margin of 21.55%.The business had revenue of $3.48 billion during the quarter, compared to analysts’ expectations of $3.50 billion. During the same period in the prior year, the business earned $0.34 EPS. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, analysts predict that CSX will post 1.89 EPS for the current fiscal year.

CSX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Friday, May 29th. CSX’s dividend payout ratio is 34.36%.

Insiders Place Their Bets

In related news, CEO Stephen F. Angel acquired 25,000 shares of the firm’s stock in a transaction that occurred on Friday, March 6th. The stock was purchased at an average cost of $40.27 per share, for a total transaction of $1,006,750.00. Following the purchase, the chief executive officer directly owned 146,540 shares of the company’s stock, valued at $5,901,165.80. This trade represents a 20.57% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Diana B. Sorfleet sold 90,000 shares of the company’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $41.56, for a total value of $3,740,400.00. Following the sale, the chief accounting officer owned 165,613 shares of the company’s stock, valued at $6,882,876.28. This trade represents a 35.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On CSX

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FNY Investment Advisers LLC raised its stake in CSX by 437.3% in the third quarter. FNY Investment Advisers LLC now owns 720 shares of the transportation company’s stock valued at $25,000 after buying an additional 586 shares during the last quarter. Wilkerson Advisory Group LLC raised its stake in CSX by 97.4% in the first quarter. Wilkerson Advisory Group LLC now owns 829 shares of the transportation company’s stock valued at $34,000 after buying an additional 409 shares during the last quarter. WFA of San Diego LLC purchased a new stake in CSX in the second quarter valued at about $28,000. Pinnacle Bancorp Inc. raised its stake in CSX by 121.5% in the third quarter. Pinnacle Bancorp Inc. now owns 1,329 shares of the transportation company’s stock valued at $47,000 after buying an additional 729 shares during the last quarter. Finally, CrossGen Wealth LLC purchased a new stake in CSX in the fourth quarter valued at about $54,000. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

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.