CSX Corp. (CSX) Receives New Coverage from Analysts at Vertical Research
Stock analysts at Vertical Research initiated coverage on shares of CSX Corp. (NASDAQ:CSX) in a note issued to investors on Tuesday, The Fly reports. The brokerage set a “hold” rating on the stock.
A number of other research analysts have also recently commented on the stock. Credit Suisse Group AG reissued a “buy” rating on shares of CSX Corp. in a research report on Tuesday, September 13th. Wolfe Research raised shares of CSX Corp. from a “market perform” rating to an “outperform” rating and set a $35.00 target price on the stock in a research report on Tuesday, September 13th. Citigroup Inc. boosted their target price on shares of CSX Corp. from $29.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, September 13th. Bank of America Corp. reissued a “buy” rating and set a $32.00 target price on shares of CSX Corp. in a research report on Monday, September 12th. Finally, Barclays PLC raised shares of CSX Corp. from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $30.00 to $35.00 in a research report on Monday, September 12th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $29.54.
Shares of CSX Corp. (NASDAQ:CSX) traded down 0.91% on Tuesday, reaching $30.55. 2,290,278 shares of the company’s stock traded hands. The stock has a market capitalization of $28.90 billion, a PE ratio of 16.68 and a beta of 1.23. The company has a 50 day moving average of $29.23 and a 200-day moving average of $27.36. CSX Corp. has a 52 week low of $21.33 and a 52 week high of $31.31.
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CSX Corp. (NASDAQ:CSX) last posted its earnings results on Wednesday, July 13th. The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.03. CSX Corp. had a net margin of 16.07% and a return on equity of 15.24%. The business had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.69 billion. During the same period in the previous year, the company posted $0.56 earnings per share. The business’s revenue for the quarter was down 11.7% compared to the same quarter last year. Equities research analysts forecast that CSX Corp. will post $1.75 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, November 30th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date is Monday, November 28th. CSX Corp.’s payout ratio is 39.13%.
In other CSX Corp. news, President Clarence W. Gooden sold 17,332 shares of the company’s stock in a transaction dated Monday, September 26th. The shares were sold at an average price of $29.44, for a total value of $510,254.08. Following the completion of the sale, the president now directly owns 127,954 shares of the company’s stock, valued at approximately $3,766,965.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.36% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of CSX. Brick & Kyle Associates increased its stake in shares of CSX Corp. by 8.1% in the second quarter. Brick & Kyle Associates now owns 4,000 shares of the company’s stock worth $104,000 after buying an additional 300 shares during the last quarter. Washington Trust Bank increased its stake in shares of CSX Corp. by 7.7% in the third quarter. Washington Trust Bank now owns 3,644 shares of the company’s stock worth $111,000 after buying an additional 259 shares during the last quarter. Advisors Asset Management Inc. acquired a new stake in shares of CSX Corp. during the second quarter worth $117,000. WFG Advisors LP increased its stake in shares of CSX Corp. by 17.1% in the second quarter. WFG Advisors LP now owns 6,537 shares of the company’s stock worth $170,000 after buying an additional 956 shares during the last quarter. Finally, Southeast Asset Advisors Inc. acquired a new stake in shares of CSX Corp. during the second quarter worth $200,000. 68.55% of the stock is owned by institutional investors.
About CSX Corp.
CSX Corporation, together with its subsidiaries, is a transportation company. The Company provides rail-based transportation services, including rail service and the transport of intermodal containers and trailers. The Company serves three lines of business, such as merchandise business, coal business and intermodal business.
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