Credit Suisse Group reissued their buy rating on shares of CSX Corporation (NASDAQ:CSX) in a report released on Friday morning. They currently have a $65.00 target price on the transportation company’s stock.
CSX has been the subject of a number of other research reports. Zacks Investment Research raised shares of CSX Corporation from a hold rating to a buy rating and set a $53.00 target price for the company in a research report on Tuesday, March 21st. Barclays PLC increased their target price on shares of CSX Corporation from $4.00 to $55.00 and gave the company an overweight rating in a research report on Friday, March 24th. Loop Capital reissued a hold rating on shares of CSX Corporation in a research report on Saturday, March 25th. Avondale Partners raised shares of CSX Corporation from a market perform rating to a market outperform rating in a research report on Tuesday, March 28th. Finally, Stifel Nicolaus increased their target price on shares of CSX Corporation from $47.00 to $50.00 and gave the company a hold rating in a research report on Thursday, April 20th. Ten equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. CSX Corporation currently has an average rating of Buy and an average target price of $52.85.
Shares of CSX Corporation (NASDAQ CSX) traded down 0.84% on Friday, reaching $54.62. 3,910,457 shares of the company were exchanged. The company has a market cap of $50.40 billion, a price-to-earnings ratio of 29.81 and a beta of 1.32. CSX Corporation has a 12 month low of $27.46 and a 12 month high of $55.48. The company’s 50-day moving average price is $52.87 and its 200 day moving average price is $47.32.
CSX Corporation (NASDAQ:CSX) last issued its quarterly earnings data on Wednesday, April 19th. The transportation company reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.08. The business had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.76 billion. CSX Corporation had a net margin of 15.19% and a return on equity of 15.67%. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter last year, the business earned $0.37 EPS. On average, equities research analysts expect that CSX Corporation will post $2.30 EPS for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.46%. CSX Corporation’s dividend payout ratio (DPR) is presently 43.72%.
CSX Corporation announced that its board has approved a share buyback program on Thursday, April 20th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the transportation company to purchase up to 2.2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
In other CSX Corporation news, CEO E Hunter Harrison bought 300,000 shares of the stock in a transaction dated Monday, April 24th. The shares were bought at an average cost of $50.20 per share, for a total transaction of $15,060,000.00. Following the purchase, the chief executive officer now directly owns 300,000 shares of the company’s stock, valued at approximately $15,060,000. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 4.79% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in CSX Corporation by 0.5% in the first quarter. Vanguard Group Inc. now owns 67,607,341 shares of the transportation company’s stock worth $3,147,122,000 after buying an additional 303,834 shares during the last quarter. Janus Capital Management LLC boosted its stake in CSX Corporation by 32.9% in the first quarter. Janus Capital Management LLC now owns 16,620,538 shares of the transportation company’s stock worth $773,686,000 after buying an additional 4,114,395 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in CSX Corporation by 22.3% in the first quarter. Bank of New York Mellon Corp now owns 10,380,043 shares of the transportation company’s stock worth $483,191,000 after buying an additional 1,896,101 shares during the last quarter. Geode Capital Management LLC boosted its stake in CSX Corporation by 7.6% in the first quarter. Geode Capital Management LLC now owns 9,175,880 shares of the transportation company’s stock worth $426,540,000 after buying an additional 648,154 shares during the last quarter. Finally, Brahman Capital Corp. acquired a new stake in CSX Corporation during the first quarter worth approximately $257,229,000. Institutional investors own 69.28% of the company’s stock.
About CSX Corporation
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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