Zacks Reiterates Neutral Rating for CSX (CSX)
CSX (NYSE:CSX)‘s stock had its “neutral” rating reaffirmed by Zacks in a research report issued on Thursday, AR Network reports. They currently have a $30.00 price objective on the stock. Zacks‘s price target indicates a potential upside of 5.63% from the stock’s previous close.
Zacks’ analyst wrote, “We maintain our Neutral recommendation on CSX Corp. The company’s first quarter earnings exceeded our expectations on both the lines. Looking ahead, we see steady expansion of the U.S. economy to support growth in the Merchandise segment, which includes agricultural, chemical, industrial, automotive and housing sectors. Additionally, continuous investment in network and the ongoing highway conversion bode well for the Intermodal segment. We also appreciate CSX’s focus on improving efficiency that will drive profitability. Despite these positives, we remain on the sidelines due to the subdued coal business that is resulting in declining export coal volumes. In addition, rising expenses along with regulatory and competitive issues are likely to hinder growth going forward.”
Shares of CSX (NYSE:CSX) traded up 0.85% during mid-day trading on Thursday, hitting $28.40. 5,304,550 shares of the company’s stock traded hands. CSX has a 52 week low of $22.40 and a 52 week high of $29.45. The stock has a 50-day moving average of $28.55 and a 200-day moving average of $27.51. The company has a market cap of $28.524 billion and a price-to-earnings ratio of 15.88.
CSX (NYSE:CSX) last released its earnings data on Tuesday, April 15th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.02. The company had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $2.98 billion. During the same quarter in the previous year, the company posted $0.45 earnings per share. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. Analysts expect that CSX will post $1.85 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, June 13th. Stockholders of record on Wednesday, May 28th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend is Friday, May 23rd. This is a boost from CSX’s previous quarterly dividend of $0.15.
A number of other analysts have also recently weighed in on CSX. Analysts at Argus reiterated a “buy” rating on shares of CSX in a research note on Tuesday. They now have a $35.00 price target on the stock. Separately, analysts at S&P Equity Research reiterated a “buy” rating on shares of CSX in a research note on Thursday, April 17th. Finally, analysts at RBC Capital raised their price target on shares of CSX from $27.00 to $29.00 in a research note on Thursday, April 17th. They now have a “sector perform” rating on the stock. Twelve investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $29.25.
CSX Corporation (NYSE:CSX), together with its subsidiaries, is a transportation supplier.
To view Zacks’ full report, visit Zacks’ official website.
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