CSX Receives “Neutral” Rating from Zacks (CSX)
CSX (NYSE:CSX)‘s stock had its “neutral” rating reaffirmed by Zacks in a research report issued to clients and investors on Thursday. They currently have a $33.00 target price on the stock. Zacks‘s target price suggests a potential upside of 7.00% from the company’s current price.
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.”
CSX (NYSE:CSX) traded down 0.84% on Thursday, hitting $30.84. The stock had a trading volume of 6,823,550 shares. CSX has a 52-week low of $23.75 and a 52-week high of $31.22. The stock’s 50-day moving average is $30.2 and its 200-day moving average is $28.63. The company has a market cap of $30.975 billion and a price-to-earnings ratio of 17.54.
CSX (NYSE:CSX) last issued its quarterly earnings data on Tuesday, April 15th. The company reported $0.40 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.45 earnings per share. The company’s quarterly revenue was up 1.7% on a year-over-year basis. Analysts expect that CSX will post $1.87 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, September 15th. Investors of record on Friday, August 29th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 2.08%.
CSX has been the subject of a number of other recent research reports. Analysts at Robert W. Baird raised their price target on shares of CSX from $32.00 to $34.00 in a research note on Tuesday. Separately, analysts at Barclays raised their price target on shares of CSX from $30.00 to $31.00 in a research note on Monday, June 30th. They now have an “equal weight” rating on the stock. Finally, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of CSX in a research note on Friday, June 27th. They now have a $31.00 price target on the stock, up previously from $28.00. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. CSX has a consensus rating of “Hold” and an average target price of $30.72.
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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