CSX Corporation (NASDAQ:CSX) Receives Coverage Optimism Rating of 0.20

Media coverage about CSX Corporation (NASDAQ:CSX) has been trending somewhat positive recently, according to Accern. The research group identifies positive and negative news coverage by analyzing more than 20 million news and blog sources in real time. Accern ranks coverage of companies on a scale of negative one to one, with scores closest to one being the most favorable. CSX Corporation earned a news sentiment score of 0.20 on Accern’s scale. Accern also gave news articles about the transportation company an impact score of 45.420598546732 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.

Here are some of the news articles that may have impacted Accern Sentiment Analysis’s rankings:

Shares of CSX Corporation (CSX) traded down 0.20% during trading on Friday, reaching $48.78. The company had a trading volume of 6,910,756 shares. CSX Corporation has a 52 week low of $27.89 and a 52 week high of $55.48. The firm has a market capitalization of $44.55 billion, a price-to-earnings ratio of 25.51 and a beta of 1.30. The firm has a 50-day moving average of $51.73 and a 200 day moving average of $50.30.

CSX Corporation (NASDAQ:CSX) last posted its quarterly earnings results 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. CSX Corporation had a return on equity of 16.93% and a net margin of 15.46%. The firm had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.85 billion. During the same quarter in the previous year, the business earned $0.47 earnings per share. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. On average, equities research analysts forecast that CSX Corporation will post $2.30 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.64%. The ex-dividend date is Tuesday, August 29th. CSX Corporation’s payout ratio is 41.88%.

CSX Corporation announced that its Board of Directors has authorized a stock buyback program on Tuesday, July 18th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the transportation company to buy up to 1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Several equities research analysts have commented on the company. Loop Capital restated a “hold” rating and issued a $54.00 price objective (up previously from $52.00) on shares of CSX Corporation in a research report on Saturday, July 22nd. BidaskClub upgraded CSX Corporation from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 6th. Bank of America Corporation restated a “buy” rating and issued a $65.00 price objective (up previously from $56.00) on shares of CSX Corporation in a research report on Tuesday, June 6th. Zacks Investment Research lowered CSX Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 21st. Finally, UBS AG reaffirmed a “buy” rating and set a $62.00 target price on shares of CSX Corporation in a research note on Monday, August 14th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nineteen have issued a buy rating to the stock. CSX Corporation currently has a consensus rating of “Buy” and an average price target of $53.71.

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In related news, Director Ridge Lp Mantle bought 1,357,000 shares of the firm’s stock in a transaction dated Friday, July 21st. The stock was bought at an average price of $51.59 per share, with a total value of $70,007,630.00. Following the completion of the transaction, the director now directly owns 106 shares of the company’s stock, valued at $5,468.54. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 4.79% of the stock is owned by corporate insiders.

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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