A number of other research analysts have also recently issued reports on the company. BidaskClub cut CSX Corporation from a hold rating to a sell rating in a report on Monday, July 31st. Cowen and Company reaffirmed a hold rating and issued a $54.00 price target on shares of CSX Corporation in a report on Friday, July 28th. Stifel Nicolaus reaffirmed a hold rating and issued a $57.00 price target (up from $50.00) on shares of CSX Corporation in a report on Monday, July 24th. Loop Capital reaffirmed a hold rating and issued a $54.00 price target (up from $52.00) on shares of CSX Corporation in a report on Saturday, July 22nd. Finally, UBS AG reaffirmed a buy rating and issued a $63.00 price target on shares of CSX Corporation in a report on Saturday, July 22nd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nineteen have given a buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $53.74.
CSX Corporation (CSX) opened at 50.27 on Wednesday. The stock’s 50 day moving average is $52.23 and its 200 day moving average is $50.22. The company has a market cap of $45.91 billion, a price-to-earnings ratio of 26.29 and a beta of 1.30. CSX Corporation has a 52-week low of $27.82 and a 52-week high of $55.48.
CSX Corporation (NASDAQ:CSX) last issued its quarterly earnings data on Tuesday, July 18th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.05. The company had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.85 billion. CSX Corporation had a return on equity of 16.93% and a net margin of 15.46%. The business’s revenue was up 8.5% on a year-over-year basis. During the same period last year, the business earned $0.47 earnings per share. On average, analysts predict that CSX Corporation will post $2.30 earnings per share for the current fiscal year.
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CSX Corporation announced that its Board of Directors has initiated a share repurchase program on Thursday, April 20th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the transportation company to reacquire up to 2.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.59%. The ex-dividend date is Tuesday, August 29th. CSX Corporation’s payout ratio is 41.88%.
In related news, Director Ridge Lp Mantle acquired 1,357,000 shares of the company’s stock in a transaction dated Friday, July 21st. The shares were bought at an average price of $51.59 per share, for a total transaction of $70,007,630.00. Following the purchase, the director now directly owns 106 shares in the company, valued at approximately $5,468.54. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 4.79% of the company’s stock.
Several large investors have recently made changes to their positions in CSX. Paragon Capital Management Ltd bought a new stake in shares of CSX Corporation during the first quarter worth about $9,357,000. United Services Automobile Association boosted its stake in shares of CSX Corporation by 20.9% in the first quarter. United Services Automobile Association now owns 573,690 shares of the transportation company’s stock worth $26,705,000 after buying an additional 99,118 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in shares of CSX Corporation during the first quarter worth about $375,000. ClariVest Asset Management LLC bought a new stake in shares of CSX Corporation during the first quarter worth about $13,531,000. Finally, Stratos Wealth Partners LTD. boosted its stake in shares of CSX Corporation by 10.6% in the first quarter. Stratos Wealth Partners LTD. now owns 13,720 shares of the transportation company’s stock worth $639,000 after buying an additional 1,316 shares in the last quarter. Institutional investors own 70.02% 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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