CSX Corp.’s (CSX) Market Perform Rating Reaffirmed at Oppenheimer Holdings Inc.
CSX Corp. (NASDAQ:CSX)‘s stock had its “market perform” rating reiterated by Oppenheimer Holdings Inc. in a research note issued to investors on Friday.
A number of other research analysts have also recently issued reports on the stock. Barclays PLC upgraded shares of CSX Corp. from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $30.00 to $35.00 in a report on Monday, September 12th. BMO Capital Markets restated an “outperform” rating and set a $29.00 price objective on shares of CSX Corp. in a report on Thursday, July 7th. Wolfe Research upgraded shares of CSX Corp. from a “market perform” rating to an “outperform” rating and set a $35.00 price target for the company in a report on Tuesday, September 13th. Citigroup Inc. reiterated a “buy” rating and issued a $29.00 price target on shares of CSX Corp. in a report on Thursday, July 14th. Finally, Bank of America Corp. reiterated a “buy” rating and issued a $32.00 price target on shares of CSX Corp. in a report on Monday, September 12th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and fourteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $29.75.
CSX Corp. (NASDAQ:CSX) opened at 31.025 on Friday. The stock’s 50 day moving average is $29.50 and its 200-day moving average is $27.47. The company has a market cap of $29.35 billion, a P/E ratio of 16.935 and a beta of 1.23. CSX Corp. has a 12-month low of $21.33 and a 12-month high of $31.73.
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CSX Corp. (NASDAQ:CSX) last issued its quarterly earnings results on Wednesday, October 12th. The company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.45 by $0.03. CSX Corp. had a net margin of 15.93% and a return on equity of 14.79%. The company earned $2.71 billion during the quarter. During the same quarter in the prior year, the firm earned $0.52 EPS. The firm’s quarterly revenue was down 7.8% compared to the same quarter last year. Analysts predict that CSX Corp. will post $1.75 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Wednesday, November 30th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Monday, November 28th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.32%. CSX Corp.’s dividend payout ratio (DPR) is currently 40.00%.
In other news, President Clarence W. Gooden sold 17,332 shares of the 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 transaction, the president now owns 127,954 shares of the company’s stock, valued at $3,766,965.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Clarence W. Gooden sold 16,129 shares of the 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 completion of the transaction, the president now directly owns 127,954 shares of the company’s stock, valued at approximately $3,966,574. The disclosure for this sale can be found here. 0.36% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Marco Investment Management LLC boosted its position in CSX Corp. by 0.3% in the second quarter. Marco Investment Management LLC now owns 8,388 shares of the company’s stock worth $219,000 after buying an additional 24 shares during the period. Jackson Grant Investment Advisers Inc. boosted its position in CSX Corp. by 0.4% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 11,280 shares of the company’s stock worth $294,000 after buying an additional 47 shares during the period. IFC Holdings Incorporated FL boosted its position in CSX Corp. by 0.5% in the second quarter. IFC Holdings Incorporated FL now owns 15,320 shares of the company’s stock worth $401,000 after buying an additional 72 shares during the period. Canandaigua National Bank & Trust Co. boosted its position in CSX Corp. by 1.0% in the third quarter. Canandaigua National Bank & Trust Co. now owns 8,380 shares of the company’s stock worth $256,000 after buying an additional 85 shares during the period. Finally, Private Trust Co. NA boosted its position in CSX Corp. by 0.3% in the third quarter. Private Trust Co. NA now owns 26,483 shares of the company’s stock worth $807,000 after buying an additional 92 shares during the period. 68.55% of the stock is 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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