CSX Corp. (CSX) Price Target Increased to $33.00 by Analysts at Cowen and Company
CSX Corp. (NASDAQ:CSX) had its price target raised by research analysts at Cowen and Company from $30.00 to $33.00 in a research report issued on Friday. The brokerage presently has an “outperform” rating on the stock. Cowen and Company’s price objective points to a potential upside of 5.94% from the stock’s current price.
Other equities analysts also recently issued research reports about the company. Oppenheimer Holdings Inc. reissued a “hold” rating on shares of CSX Corp. in a research report on Sunday, July 17th. JPMorgan Chase & Co. reissued a “buy” rating on shares of CSX Corp. in a research report on Friday, July 15th. Stifel Nicolaus downgraded CSX Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, July 14th. They noted that the move was a valuation call. Barclays PLC reissued an “equal weight” rating on shares of CSX Corp. in a research report on Friday, July 15th. Finally, BB&T Corp. downgraded CSX Corp. from a “buy” rating to a “hold” rating in a research report on Friday, July 15th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. CSX Corp. currently has an average rating of “Hold” and a consensus price target of $29.67.
CSX Corp. (NASDAQ:CSX) opened at 31.15 on Friday. The company’s 50 day moving average price is $29.41 and its 200 day moving average price is $27.43. The company has a market cap of $29.47 billion, a P/E ratio of 17.00 and a beta of 1.23. 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 announced its quarterly earnings results on Wednesday, October 12th. The company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.03. The firm had revenue of $2.71 billion for the quarter. CSX Corp. had a return on equity of 14.80% and a net margin of 15.93%. CSX Corp.’s quarterly revenue was down 7.8% compared to the same quarter last year. During the same period last year, the firm earned $0.52 EPS. Equities research analysts anticipate that CSX Corp. will post $1.75 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Wednesday, November 30th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend is Monday, November 28th. CSX Corp.’s payout ratio is 40.00%.
In related news, President Clarence W. Gooden sold 17,332 shares of the stock in a transaction on Monday, September 26th. The stock was 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 in the company, valued at $3,766,965.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Clarence W. Gooden sold 16,129 shares of the stock in a transaction on Thursday, October 6th. The shares were sold at an average price of $31.00, for a total value of $499,999.00. Following the completion of the sale, the president now owns 127,954 shares of the company’s stock, valued at $3,966,574. The disclosure for this sale can be found here. 0.36% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of CSX. Vanguard Group Inc. increased its stake in CSX Corp. by 1.0% in the second quarter. Vanguard Group Inc. now owns 64,897,998 shares of the company’s stock worth $1,692,540,000 after buying an additional 617,969 shares during the last quarter. State Street Corp increased its stake in CSX Corp. by 3.7% in the first quarter. State Street Corp now owns 39,232,512 shares of the company’s stock worth $1,010,242,000 after buying an additional 1,398,858 shares during the last quarter. Wellington Management Group LLP increased its stake in CSX Corp. by 20.1% in the first quarter. Wellington Management Group LLP now owns 37,879,182 shares of the company’s stock worth $975,389,000 after buying an additional 6,331,519 shares during the last quarter. Lazard Asset Management LLC increased its stake in CSX Corp. by 16.2% in the first quarter. Lazard Asset Management LLC now owns 28,572,157 shares of the company’s stock worth $735,731,000 after buying an additional 3,977,973 shares during the last quarter. Finally, BlackRock Fund Advisors increased its stake in CSX Corp. by 1.5% in the second quarter. BlackRock Fund Advisors now owns 10,835,371 shares of the company’s stock worth $282,586,000 after buying an additional 156,444 shares during the last quarter. Institutional investors and hedge funds 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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