CSX Corp. (CSX) Earns Neutral Rating from Analysts at Seaport Global Securities
Equities researchers at Seaport Global Securities began coverage on shares of CSX Corp. (NASDAQ:CSX) in a research note issued to investors on Wednesday. The firm set a “neutral” rating on the stock.
Other research analysts have also issued reports about the company. Citigroup Inc. reiterated a “buy” rating and set a $29.00 price target on shares of CSX Corp. in a report on Thursday, July 14th. JPMorgan Chase & Co. restated a “buy” rating on shares of CSX Corp. in a research report on Friday, July 15th. Argus restated a “buy” rating and set a $35.00 price objective on shares of CSX Corp. in a research report on Friday, July 15th. Bank of America Corp. restated a “buy” rating and set a $32.00 price objective on shares of CSX Corp. in a research report on Monday, September 12th. Finally, Credit Suisse Group AG restated a “buy” rating on shares of CSX Corp. in a research report on Tuesday, September 13th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $29.96.
Shares of CSX Corp. (NASDAQ:CSX) opened at 31.02 on Wednesday. The firm’s 50 day moving average is $29.65 and its 200 day moving average is $27.56. CSX Corp. has a 1-year low of $21.33 and a 1-year high of $31.73. The firm has a market capitalization of $29.34 billion, a PE ratio of 16.93 and a beta of 1.23.
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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 analysts’ consensus estimates of $0.45 by $0.03. CSX Corp. had a return on equity of 14.79% and a net margin of 15.93%. The company earned $2.71 billion during the quarter. During the same quarter last year, the firm earned $0.52 earnings per share. The firm’s quarterly revenue was down 7.8% compared to the same quarter last year. Analysts anticipate that CSX Corp. will post $1.75 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Wednesday, November 30th will be issued 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 dividend yield of 2.32%. CSX Corp.’s payout ratio is presently 40.00%.
In related news, 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 in the company, valued at $3,966,574. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Clarence W. Gooden sold 17,332 shares of the stock in a transaction dated Monday, September 26th. The stock was sold at an average price of $29.44, for a total value of $510,254.08. Following the transaction, the president now owns 127,954 shares of the company’s stock, valued at $3,766,965.76. The disclosure for this sale can be found here. Corporate insiders own 0.36% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of CSX. Brick & Kyle Associates increased its position in 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 position in 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. purchased a new position in CSX Corp. during the second quarter worth about $117,000. Community Bank N.A. increased its position in CSX Corp. by 19.9% in the third quarter. Community Bank N.A. now owns 4,300 shares of the company’s stock worth $132,000 after buying an additional 715 shares during the last quarter. Finally, WFG Advisors LP increased its position in 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. Institutional investors and hedge funds own 68.64% 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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