CSX (NASDAQ:CSX) had its target price cut by Scotiabank from $63.00 to $62.50 in a report released on Thursday. The brokerage presently has a “sector perform” rating on the transportation company’s stock. Scotiabank’s price objective indicates a potential upside of 8.71% from the stock’s previous close.
Several other research analysts also recently commented on CSX. Zacks Investment Research downgraded CSX from a “hold” rating to a “sell” rating in a research note on Tuesday, September 26th. Morgan Stanley downgraded CSX from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $44.00 to $43.00 in a research note on Monday, October 2nd. ValuEngine downgraded CSX from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Aegis reaffirmed a “buy” rating and issued a $64.00 price objective on shares of CSX in a research note on Tuesday, October 10th. Finally, JPMorgan Chase & Co. upped their price objective on CSX from $58.00 to $62.00 and gave the company an “overweight” rating in a research note on Thursday, October 12th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $60.38.
Shares of CSX (NASDAQ:CSX) traded down $0.56 during midday trading on Thursday, reaching $57.49. The company’s stock had a trading volume of 7,386,493 shares, compared to its average volume of 5,352,751. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.86 and a current ratio of 1.01. The firm has a market capitalization of $51,380.14, a P/E ratio of 9.47, a price-to-earnings-growth ratio of 1.42 and a beta of 1.35. CSX has a 12-month low of $42.88 and a 12-month high of $60.04.
CSX (NASDAQ:CSX) last issued its earnings results on Tuesday, January 16th. The transportation company reported $0.64 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.08. The firm had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.89 billion. CSX had a return on equity of 17.16% and a net margin of 47.96%. The business’s quarterly revenue was down 5.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.49 earnings per share. equities research analysts forecast that CSX will post 3.07 EPS for the current year.
CSX announced that its Board of Directors has approved a stock buyback plan on Wednesday, October 25th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the transportation company to purchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
In other CSX news, Director Gary Keith Anderson purchased 5,000 shares of the business’s stock in a transaction on Friday, November 24th. The shares were purchased at an average cost of $2,300.00 per share, for a total transaction of $11,500,000.00. Corporate insiders own 4.79% of the company’s stock.
Several institutional investors have recently bought and sold shares of CSX. Lord Abbett & CO. LLC boosted its holdings in shares of CSX by 29.5% during the 2nd quarter. Lord Abbett & CO. LLC now owns 2,479,799 shares of the transportation company’s stock worth $135,298,000 after buying an additional 565,529 shares in the last quarter. Cohen & Steers Inc. lifted its holdings in shares of CSX by 31.3% in the 3rd quarter. Cohen & Steers Inc. now owns 1,801,521 shares of the transportation company’s stock worth $97,751,000 after purchasing an additional 429,795 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of CSX by 13.0% in the 4th quarter. Bank of Montreal Can now owns 1,567,713 shares of the transportation company’s stock worth $86,240,000 after purchasing an additional 180,925 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of CSX by 10.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,518,838 shares of the transportation company’s stock worth $82,401,000 after purchasing an additional 149,208 shares in the last quarter. Finally, Parametric Portfolio Associates LLC lifted its holdings in shares of CSX by 4.5% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 2,642,057 shares of the transportation company’s stock worth $143,358,000 after purchasing an additional 113,493 shares in the last quarter. Hedge funds and other institutional investors own 70.17% of the company’s stock.
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CSX Company Profile
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.