CSX Corporation (CSX) Receives Buy Rating from Credit Suisse Group

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.

COPYRIGHT VIOLATION WARNING: “CSX Corporation (CSX) Receives Buy Rating from Credit Suisse Group” was originally reported by Community Financial News and is the sole property of of Community Financial News. If you are reading this piece on another website, it was stolen and republished in violation of US & international trademark & copyright laws. The correct version of this piece can be accessed at https://www.com-unik.info/2017/07/17/csx-corporation-csx-receives-buy-rating-from-credit-suisse-group.html.

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.

Analyst Recommendations for CSX Corporation (NASDAQ:CSX)

What are top analysts saying about CSX Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for CSX Corporation and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit