CSX Corp. (CSX) Price Target Raised to $33.00
CSX Corp. (NASDAQ:CSX) had its price objective hoisted by analysts at Cowen and Company from $30.00 to $33.00 in a research report issued to clients and investors on Friday. The firm presently has an “outperform” rating on the stock. Cowen and Company’s price objective would indicate a potential upside of 5.94% from the stock’s current price.
Other analysts have also recently issued reports about the company. Vertical Research assumed coverage on CSX Corp. in a research note on Tuesday. They set a “hold” rating for the company. Credit Suisse Group AG reissued a “buy” rating on shares of CSX Corp. in a research note on Tuesday, September 13th. Wolfe Research raised CSX Corp. from a “market perform” rating to an “outperform” rating and set a $35.00 target price for the company in a research note on Tuesday, September 13th. Citigroup Inc. increased their target price on CSX Corp. from $29.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, September 13th. Finally, Bank of America Corp. reissued a “buy” rating and set a $32.00 target price on shares of CSX Corp. in a research note on Monday, September 12th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have assigned a buy rating to the company. CSX Corp. has an average rating of “Hold” and an average target price of $29.67.
Shares of CSX Corp. (NASDAQ:CSX) opened at 31.15 on Friday. The company has a market capitalization of $29.47 billion, a P/E ratio of 17.00 and a beta of 1.23. The company has a 50-day moving average of $29.41 and a 200 day moving average of $27.43. CSX Corp. has a 12 month low of $21.33 and a 12 month 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 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.03. The company earned $2.71 billion during the quarter. CSX Corp. had a return on equity of 14.80% and a net margin of 15.93%. The business’s revenue was down 7.8% compared to the same quarter last year. During the same period last year, the company earned $0.52 earnings per share. Analysts forecast that CSX Corp. will post $1.75 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, November 30th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date is Monday, November 28th. CSX Corp.’s dividend payout ratio is presently 40.00%.
In other news, President Clarence W. Gooden sold 16,129 shares of CSX Corp. stock in a transaction dated Thursday, October 6th. The stock was sold at an average price of $31.00, for a total transaction of $499,999.00. Following the sale, the president now directly owns 127,954 shares of the company’s stock, valued at $3,966,574. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Clarence W. Gooden sold 17,332 shares of CSX Corp. 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 sale, the president now directly owns 127,954 shares in the company, valued at $3,766,965.76. The disclosure for this sale can be found here. 0.36% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. Community Bank of Raymore raised its stake 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 last quarter. Legal & General Group Plc raised its stake 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 last quarter. Meeder Asset Management Inc. purchased a new stake in shares of CSX Corp. during the first quarter worth approximately $454,000. Capital Analysts LLC raised its stake in shares of CSX Corp. by 241.5% in the second quarter. Capital Analysts LLC now owns 7,567 shares of the company’s stock worth $711,000 after buying an additional 5,351 shares during the last quarter. Finally, Simmons Bank purchased a new stake in shares of CSX Corp. during the first quarter worth approximately $329,000. 68.55% of the stock is currently owned by hedge funds and other institutional investors.
CSX Corp. Company Profile
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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