Atlantic Securities Upgrades CSX Co. (CSX) to “Overweight”
Atlantic Securities upgraded shares of CSX Co. (NASDAQ:CSX) from a neutral rating to an overweight rating in a research report released on Wednesday morning. The brokerage currently has $57.00 price objective on the stock.
Several other research analysts have also recently commented on CSX. Wells Fargo & Co began coverage on CSX in a research note on Monday, March 13th. They set an outperform rating for the company. Zacks Investment Research raised CSX from a hold rating to a buy rating and set a $41.00 target price for the company in a research note on Monday, December 5th. Stifel Nicolaus boosted their target price on CSX from $33.00 to $47.00 and gave the stock a positive rating in a research note on Tuesday, March 7th. Deutsche Bank AG cut CSX from a buy rating to a hold rating and lowered their target price for the stock from $45.51 to $42.00 in a research note on Thursday, January 19th. They noted that the move was a valuation call. Finally, Morgan Stanley raised CSX from an underweight rating to an equal weight rating and boosted their target price for the stock from $24.00 to $37.00 in a research note on Thursday, January 19th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and seventeen have given a buy rating to the stock. CSX currently has a consensus rating of Buy and a consensus target price of $52.65.
CSX (NASDAQ:CSX) opened at 46.88 on Wednesday. The firm has a market capitalization of $43.43 billion, a price-to-earnings ratio of 25.91 and a beta of 1.19. The stock has a 50 day moving average price of $47.94 and a 200-day moving average price of $37.36. CSX has a one year low of $24.36 and a one year high of $50.31.
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CSX (NASDAQ:CSX) last released its earnings results on Tuesday, January 17th. The company reported $0.49 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by $0.01. CSX had a return on equity of 14.71% and a net margin of 15.48%. The company had revenue of $2.86 billion for the quarter. During the same period last year, the firm earned $0.48 earnings per share. CSX’s quarterly revenue was up 2.8% compared to the same quarter last year. On average, analysts predict that CSX will post $2.02 earnings per share for the current fiscal year.
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The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 15th. Shareholders of record on Tuesday, February 28th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.54%. The ex-dividend date was Friday, February 24th. CSX’s payout ratio is 39.78%.
Institutional investors have recently added to or reduced their stakes in the company. Independent Portfolio Consultants Inc. boosted its position in CSX by 2.1% in the third quarter. Independent Portfolio Consultants Inc. now owns 39,702 shares of the company’s stock valued at $1,211,000 after buying an additional 835 shares during the last quarter. Markston International LLC boosted its position in CSX by 7.4% in the third quarter. Markston International LLC now owns 297,985 shares of the company’s stock valued at $9,089,000 after buying an additional 20,635 shares during the last quarter. Morgan Stanley boosted its position in CSX by 3.2% in the third quarter. Morgan Stanley now owns 3,867,411 shares of the company’s stock valued at $117,956,000 after buying an additional 118,895 shares during the last quarter. GHP Investment Advisors Inc. boosted its position in CSX by 2.8% in the third quarter. GHP Investment Advisors Inc. now owns 71,989 shares of the company’s stock valued at $2,196,000 after buying an additional 1,981 shares during the last quarter. Finally, RWC Asset Management LLP boosted its position in CSX by 53.6% in the third quarter. RWC Asset Management LLP now owns 404,370 shares of the company’s stock valued at $12,333,000 after buying an additional 141,070 shares during the last quarter. Institutional investors own 69.47% of the company’s stock.
CSX Corporation is a transportation company. The Company provides rail-based freight transportation services, including traditional rail service and transport of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations.
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