CSX Corporation (NASDAQ:CSX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

CSX Corporation (NASDAQ:CSX) has earned an average recommendation of “Moderate Buy” from the twenty-six brokerages that are currently covering the firm, Marketbeat reports. Seven research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $38.7083.

A number of research firms recently issued reports on CSX. Raymond James Financial restated an “outperform” rating and set a $40.00 target price (up from $39.00) on shares of CSX in a research report on Friday, October 17th. Barclays reissued an “overweight” rating on shares of CSX in a report on Monday, October 20th. Royal Bank Of Canada upped their target price on CSX from $39.00 to $41.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 30th. Susquehanna reduced their price target on CSX from $35.00 to $34.00 and set a “neutral” rating for the company in a research report on Thursday, September 25th. Finally, JPMorgan Chase & Co. boosted their price target on CSX from $40.00 to $41.00 and gave the company an “overweight” rating in a report on Monday, October 20th.

CSX Price Performance

Shares of NASDAQ CSX opened at $37.09 on Thursday. CSX has a 52 week low of $26.22 and a 52 week high of $37.28. The business’s 50 day moving average price is $35.53 and its 200 day moving average price is $34.24. The company has a quick ratio of 0.71, a current ratio of 0.85 and a debt-to-equity ratio of 1.45. The firm has a market cap of $69.07 billion, a P/E ratio of 24.24, a P/E/G ratio of 3.10 and a beta of 1.30.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Thursday, October 16th. The transportation company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.42 by $0.02. The business had revenue of $3.59 billion during the quarter, compared to analysts’ expectations of $3.60 billion. CSX had a net margin of 20.55% and a return on equity of 24.95%. The business’s quarterly revenue was down .9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.45 EPS. On average, sell-side analysts expect that CSX will post 1.83 earnings per share for the current year.

CSX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 28th will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, November 28th. CSX’s payout ratio is 33.99%.

Insider Buying and Selling

In other news, EVP Kevin S. Boone sold 31,053 shares of the stock in a transaction dated Wednesday, October 22nd. The shares were sold at an average price of $36.09, for a total transaction of $1,120,702.77. Following the sale, the executive vice president directly owned 197,521 shares of the company’s stock, valued at $7,128,532.89. This represents a 13.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Stephen F. Angel bought 55,000 shares of the company’s stock in a transaction dated Monday, October 20th. The shares were acquired at an average price of $36.87 per share, for a total transaction of $2,027,850.00. Following the completion of the transaction, the chief executive officer directly owned 58,234 shares in the company, valued at approximately $2,147,087.58. This trade represents a 1,700.68% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.55% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CSX

Hedge funds have recently bought and sold shares of the business. Twin Peaks Wealth Advisors LLC purchased a new position in shares of CSX in the second quarter worth about $25,000. WFA of San Diego LLC acquired a new stake in CSX in the 2nd quarter valued at about $28,000. S Bank Fund Management Ltd purchased a new position in CSX in the 1st quarter worth approximately $45,000. Pinnacle Bancorp Inc. lifted its stake in CSX by 121.5% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 1,329 shares of the transportation company’s stock worth $47,000 after purchasing an additional 729 shares in the last quarter. Finally, Sunbelt Securities Inc. acquired a new position in shares of CSX during the 3rd quarter worth approximately $67,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

About CSX

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It also transports chemicals, agricultural and food products, minerals, automotive, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities.