Aegis reissued their buy rating on shares of CSX Corporation (NASDAQ:CSX) in a research report report published on Tuesday. The firm currently has a $64.00 price target on the transportation company’s stock.
Several other research analysts have also issued reports on CSX. BidaskClub upgraded CSX Corporation from a strong sell rating to a sell rating in a research report on Thursday, August 10th. Royal Bank Of Canada restated a buy rating and set a $65.00 target price on shares of CSX Corporation in a research report on Friday, August 11th. ValuEngine lowered CSX Corporation from a buy rating to a hold rating in a research report on Monday, October 2nd. UBS AG reiterated a buy rating and issued a $62.00 price target on shares of CSX Corporation in a report on Monday, August 14th. Finally, Deutsche Bank AG reiterated a buy rating on shares of CSX Corporation in a report on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and eighteen have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $54.09.
Shares of CSX Corporation (CSX) opened at 52.39 on Tuesday. CSX Corporation has a one year low of $30.01 and a one year high of $55.48. The stock has a market capitalization of $47.85 billion, a PE ratio of 27.40 and a beta of 1.35. The company’s 50-day moving average price is $51.59 and its 200 day moving average price is $51.33.
CSX Corporation (NASDAQ:CSX) last announced its earnings results on Tuesday, July 18th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 business had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.85 billion. During the same quarter in the previous year, the business earned $0.47 earnings per share. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. Analysts anticipate that CSX Corporation will post $2.22 EPS for the current year.
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CSX Corporation declared that its board has initiated a stock repurchase plan on Tuesday, July 18th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the transportation company to purchase up to 1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.53%. CSX Corporation’s payout ratio is 41.88%.
In other news, Director Ridge Lp Mantle bought 1,357,000 shares of the business’s stock in a transaction that occurred on Friday, July 21st. The shares were purchased at an average cost of $51.59 per share, with a total value of $70,007,630.00. Following the transaction, the director now directly owns 106 shares in the company, valued at $5,468.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 4.79% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the business. United Services Automobile Association boosted its holdings in CSX Corporation by 20.9% in the first quarter. United Services Automobile Association now owns 573,690 shares of the transportation company’s stock valued at $26,705,000 after purchasing an additional 99,118 shares during the last quarter. ClariVest Asset Management LLC purchased a new stake in CSX Corporation in the first quarter valued at $13,531,000. Westwood Holdings Group Inc. boosted its holdings in CSX Corporation by 0.7% in the first quarter. Westwood Holdings Group Inc. now owns 7,549 shares of the transportation company’s stock valued at $351,000 after purchasing an additional 49 shares during the last quarter. Stratos Wealth Partners LTD. boosted its holdings in CSX Corporation by 10.6% in the first quarter. Stratos Wealth Partners LTD. now owns 13,720 shares of the transportation company’s stock valued at $639,000 after purchasing an additional 1,316 shares during the last quarter. Finally, TIAA CREF Investment Management LLC boosted its holdings in CSX Corporation by 31.1% in the first quarter. TIAA CREF Investment Management LLC now owns 4,861,202 shares of the transportation company’s stock valued at $226,289,000 after purchasing an additional 1,152,841 shares during the last quarter. 69.83% of the stock is currently owned by institutional investors.
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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