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

Shares of CSX Corporation (NASDAQ:CSXGet Free Report) have earned an average recommendation of “Moderate Buy” from the twenty-five ratings firms that are presently covering the company, MarketBeat Ratings reports. Nine analysts have rated the stock with a hold recommendation and sixteen have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $47.18.

CSX has been the topic of several research reports. Wolfe Research restated an “outperform” rating and set a $50.00 price target on shares of CSX in a research note on Thursday, April 23rd. Susquehanna boosted their price target on CSX from $44.00 to $50.00 and gave the company a “neutral” rating in a research note on Friday, June 5th. Bank of America restated a “buy” rating and set a $53.00 price target (up from $51.00) on shares of CSX in a research note on Wednesday, June 17th. JPMorgan Chase & Co. upped their price objective on CSX from $42.00 to $48.00 and gave the company an “overweight” rating in a research note on Thursday, April 23rd. Finally, TD Cowen increased their target price on CSX from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd.

Check Out Our Latest Stock Analysis on CSX

CSX Stock Performance

Shares of CSX opened at $47.66 on Monday. CSX has a 12-month low of $31.80 and a 12-month high of $48.03. The company has a quick ratio of 0.83, a current ratio of 0.97 and a debt-to-equity ratio of 1.34. The firm has a market capitalization of $88.56 billion, a price-to-earnings ratio of 29.24, a P/E/G ratio of 2.38 and a beta of 1.22. The stock’s 50-day moving average price is $45.72 and its 200 day moving average price is $41.37.

CSX (NASDAQ:CSXGet Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The transportation company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.04. CSX had a return on equity of 24.47% and a net margin of 21.55%.The firm had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.50 billion. During the same period in the previous year, the company posted $0.34 earnings per share. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. As a group, research analysts predict that CSX will post 1.9 earnings per share for the current year.

CSX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were issued a $0.14 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.2%. CSX’s dividend payout ratio is presently 34.36%.

Insider Buying and Selling

In other news, CFO Kevin S. Boone sold 136,708 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $46.70, for a total value of $6,384,263.60. Following the completion of the transaction, the chief financial officer directly owned 208,622 shares of the company’s stock, valued at approximately $9,742,647.40. This represents a 39.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John J. Zillmer sold 10,000 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $46.45, for a total value of $464,500.00. Following the completion of the transaction, the director directly owned 353,714 shares of the company’s stock, valued at approximately $16,430,015.30. The trade was a 2.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On CSX

A number of hedge funds have recently modified their holdings of the stock. Cohen & Steers Inc. grew its position in CSX by 1.2% during the 4th quarter. Cohen & Steers Inc. now owns 8,282,107 shares of the transportation company’s stock worth $300,226,000 after acquiring an additional 98,977 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC grew its position in CSX by 81.9% during the 3rd quarter. Cbre Investment Management Listed Real Assets LLC now owns 944,946 shares of the transportation company’s stock worth $33,555,000 after acquiring an additional 425,395 shares during the last quarter. Captrust Financial Advisors grew its position in CSX by 4.4% during the 4th quarter. Captrust Financial Advisors now owns 423,312 shares of the transportation company’s stock worth $15,345,000 after acquiring an additional 18,025 shares during the last quarter. Miller Howard Investments Inc. NY grew its position in CSX by 6.8% during the 1st quarter. Miller Howard Investments Inc. NY now owns 238,817 shares of the transportation company’s stock worth $9,803,000 after acquiring an additional 15,310 shares during the last quarter. Finally, Rathbones Group PLC grew its position in CSX by 20.6% during the 3rd quarter. Rathbones Group PLC now owns 207,454 shares of the transportation company’s stock worth $7,367,000 after acquiring an additional 35,403 shares during the last quarter. 73.57% of the stock is owned by institutional investors and hedge funds.

CSX News Roundup

Here are the key news stories impacting CSX this week:

About CSX

(Get Free Report)

CSX Corporation is a leading North American transportation company that provides rail-based freight services and supply-chain solutions. Its operating subsidiary, CSX Transportation, moves a wide range of goods for customers across multiple industries, using a combination of long-haul rail service, intermodal operations and terminal and yard services. The company focuses on delivering efficient, reliable freight transportation between major production centers, consumption markets and port gateways.

CSX’s freight portfolio includes intermodal containers and trailers, bulk commodities, industrial products and specialized unit trains.

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Analyst Recommendations for CSX (NASDAQ:CSX)

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