CSX Corporation’s (CSX) “Buy” Rating Reiterated at UBS AG

UBS AG reissued their buy rating on shares of CSX Corporation (NASDAQ:CSX) in a research note released on Monday morning, www.flashratings.com reports. The brokerage currently has a $62.00 price objective on the transportation company’s stock.

Other equities research analysts have also issued research reports about the stock. Aegis raised shares of CSX Corporation from a hold rating to a buy rating and raised their price target for the stock from $50.00 to $64.00 in a report on Friday, April 21st. BMO Capital Markets reissued a buy rating and issued a $58.00 price target on shares of CSX Corporation in a report on Friday, April 21st. TD Securities reissued a buy rating and issued a $64.00 price target (up previously from $57.00) on shares of CSX Corporation in a report on Friday, April 21st. Royal Bank Of Canada reissued a buy rating and issued a $65.00 price target on shares of CSX Corporation in a report on Friday, June 9th. Finally, Bank of America Corporation reissued a buy rating and issued a $65.00 price target (up previously from $56.00) on shares of CSX Corporation in a report on Tuesday, June 6th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $53.71.

Shares of CSX Corporation (CSX) traded up 0.59% during mid-day trading on Monday, reaching $49.17. 3,124,580 shares of the company’s stock were exchanged. CSX Corporation has a one year low of $27.89 and a one year high of $55.48. The company has a 50 day moving average price of $51.87 and a 200-day moving average price of $50.29. The stock has a market cap of $44.91 billion, a PE ratio of 25.72 and a beta of 1.30.

CSX Corporation (NASDAQ:CSX) last announced its quarterly earnings results on Tuesday, July 18th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.05. The business had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.85 billion. CSX Corporation had a net margin of 15.46% and a return on equity of 16.93%. The company’s revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.47 EPS. On average, analysts predict that CSX Corporation will post $2.30 EPS for the current year.

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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 issued a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $0.80 annualized dividend and a yield of 1.64%. CSX Corporation’s dividend payout ratio (DPR) is presently 41.88%.

CSX Corporation declared that its Board of Directors has initiated a stock repurchase program on Thursday, April 20th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the transportation company to purchase up to 2.2% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

In other news, Director Ridge Lp Mantle bought 1,357,000 shares of the firm’s stock in a transaction on Friday, July 21st. The stock was acquired at an average cost of $51.59 per share, with a total value of $70,007,630.00. Following the completion of the acquisition, the director now owns 106 shares of the company’s stock, valued at $5,468.54. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.79% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of CSX. Quantitative Systematic Strategies LLC boosted its position in shares of CSX Corporation by 83.6% in the first quarter. Quantitative Systematic Strategies LLC now owns 75,299 shares of the transportation company’s stock valued at $3,505,000 after buying an additional 34,276 shares during the period. Patten & Patten Inc. TN purchased a new position in shares of CSX Corporation during the first quarter valued at about $370,000. Duff & Phelps Investment Management Co. boosted its position in shares of CSX Corporation by 4.8% in the first quarter. Duff & Phelps Investment Management Co. now owns 180,630 shares of the transportation company’s stock valued at $8,408,000 after buying an additional 8,270 shares during the period. DnB Asset Management AS boosted its position in shares of CSX Corporation by 16.3% in the first quarter. DnB Asset Management AS now owns 102,764 shares of the transportation company’s stock valued at $4,784,000 after buying an additional 14,400 shares during the period. Finally, Capital Investment Advisors LLC boosted its position in shares of CSX Corporation by 3.4% in the first quarter. Capital Investment Advisors LLC now owns 8,127 shares of the transportation company’s stock valued at $378,000 after buying an additional 269 shares during the period. 70.32% of the stock is owned by institutional investors and hedge funds.

CSX Corporation Company Profile

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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