CSX Corp. (CSX) Research Coverage Started at Vertical Research
Equities research analysts at Vertical Research started coverage on shares of CSX Corp. (NASDAQ:CSX) in a research report issued to clients and investors on Tuesday, The Fly reports. The brokerage set a “hold” rating on the stock.
A number of other research analysts have also commented on CSX. Oppenheimer Holdings Inc. began coverage on shares of CSX Corp. in a research report on Wednesday, June 15th. They set a “market perform” rating for the company. Citigroup Inc. reaffirmed a “buy” rating and set a $29.00 price objective on shares of CSX Corp. in a report on Saturday, June 18th. BMO Capital Markets reissued an “outperform” rating and issued a $29.00 price target on shares of CSX Corp. in a research note on Thursday, July 7th. Stifel Nicolaus downgraded shares of CSX Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, July 14th. They noted that the move was a valuation call. Finally, Cowen and Company boosted their price target on shares of CSX Corp. from $27.00 to $30.00 and gave the stock a “market perform” rating in a research note on Friday, July 15th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $29.54.
CSX Corp. (NASDAQ:CSX) traded down 0.71% during mid-day trading on Tuesday, reaching $30.61. The company had a trading volume of 2,223,047 shares. The firm has a 50-day moving average price of $29.23 and a 200 day moving average price of $27.36. CSX Corp. has a 12-month low of $21.33 and a 12-month high of $31.31. The firm has a market capitalization of $28.96 billion, a price-to-earnings ratio of 16.71 and a beta of 1.23.
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CSX Corp. (NASDAQ:CSX) last released its quarterly earnings data on Wednesday, July 13th. The company reported $0.47 earnings per share for the quarter, beating 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 earned $2.70 billion during the quarter, compared to analyst estimates of $2.69 billion. During the same period in the previous year, the business earned $0.56 EPS. CSX Corp.’s revenue was down 11.7% compared to the same quarter last year. Analysts expect that CSX Corp. will post $1.75 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Wednesday, November 30th will be given a dividend of $0.18 per share. The ex-dividend date is Monday, November 28th. This represents a $0.72 dividend on an annualized basis and a yield of 2.34%. CSX Corp.’s dividend payout ratio (DPR) is 39.13%.
In related news, President Clarence W. Gooden sold 17,332 shares of the stock in a transaction that occurred on Monday, September 26th. The shares were sold at an average price of $29.44, for a total transaction of $510,254.08. Following the transaction, the president now owns 127,954 shares in the company, valued at $3,766,965.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.36% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Founders Capital Management LLC increased its position in shares of CSX Corp. by 2.3% in the first quarter. Founders Capital Management LLC now owns 259,235 shares of the company’s stock worth $6,675,000 after buying an additional 5,925 shares during the period. Community Bank of Raymore increased its position in shares of CSX Corp. by 2.5% in the second quarter. Community Bank of Raymore now owns 741,373 shares of the company’s stock worth $19,328,000 after buying an additional 18,400 shares during the period. Park National Corp OH increased its position in shares of CSX Corp. by 2.5% in the first quarter. Park National Corp OH now owns 166,899 shares of the company’s stock worth $4,297,000 after buying an additional 4,075 shares during the period. Legal & General Group Plc increased its position in shares of CSX Corp. by 1.6% in the first quarter. Legal & General Group Plc now owns 4,290,750 shares of the company’s stock worth $110,488,000 after buying an additional 66,790 shares during the period. Finally, Baker Avenue Asset Management increased its position in shares of CSX Corp. by 933.6% in the third quarter. Baker Avenue Asset Management now owns 161,860 shares of the company’s stock worth $4,354,000 after buying an additional 146,200 shares during the period. Institutional investors own 68.55% of the company’s stock.
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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