CSX (NASDAQ:CSX) Now Covered by Citizens Jmp

Citizens Jmp assumed coverage on shares of CSX (NASDAQ:CSX) in a research report report published on Wednesday morning, MarketBeat.com reports. The firm issued a market perform rating on the transportation company’s stock.

Several other brokerages have also commented on CSX. Sanford C. Bernstein boosted their price target on shares of CSX from $36.00 to $39.00 and gave the stock a “market perform” rating in a report on Tuesday, March 31st. Jefferies Financial Group increased their price objective on shares of CSX from $50.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Benchmark lifted their target price on shares of CSX from $46.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. New Street Research set a $49.00 target price on shares of CSX in a research note on Thursday, April 23rd. Finally, Evercore set a $47.00 price target on shares of CSX in a research report on Thursday, June 25th. Seventeen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, CSX currently has an average rating of “Moderate Buy” and a consensus price target of $49.33.

CSX Stock Performance

NASDAQ CSX opened at $49.43 on Wednesday. The stock has a market capitalization of $91.85 billion, a price-to-earnings ratio of 30.33, a PEG ratio of 2.47 and a beta of 1.21. CSX has a twelve month low of $31.80 and a twelve month high of $50.31. The company has a current ratio of 0.97, a quick ratio of 0.83 and a debt-to-equity ratio of 1.34. The stock has a 50-day moving average of $46.84 and a 200 day moving average of $42.48.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Wednesday, April 22nd. The transportation company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.39 by $0.04. The company had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.50 billion. CSX had a return on equity of 24.47% and a net margin of 21.55%.CSX’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period last year, the company earned $0.34 earnings per share. Sell-side analysts anticipate that CSX will post 1.92 EPS for the current fiscal year.

CSX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were issued a $0.14 dividend. The ex-dividend date was Friday, May 29th. This represents a $0.56 dividend on an annualized basis and a yield of 1.1%. CSX’s dividend payout ratio (DPR) is presently 34.36%.

Insiders Place Their Bets

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

Institutional Trading of CSX

Hedge funds have recently bought and sold shares of the business. FNY Investment Advisers LLC boosted its holdings in shares of CSX by 437.3% during the 3rd quarter. FNY Investment Advisers LLC now owns 720 shares of the transportation company’s stock worth $25,000 after purchasing an additional 586 shares during the last quarter. WFA of San Diego LLC purchased a new stake in shares of CSX in the second quarter valued at approximately $28,000. Arlington Trust Co LLC increased its holdings in shares of CSX by 58.0% in the second quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company’s stock valued at $32,000 after purchasing an additional 250 shares during the last quarter. Wilkerson Advisory Group LLC increased its holdings in shares of CSX by 97.4% in the first quarter. Wilkerson Advisory Group LLC now owns 829 shares of the transportation company’s stock valued at $34,000 after purchasing an additional 409 shares during the last quarter. Finally, Allied Private Wealth LLC purchased a new position in CSX during the second quarter worth approximately $37,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

More CSX News

Here are the key news stories impacting CSX this week:

• Positive Sentiment: Susquehanna upgraded CSX to positive from neutral and lifted its price target to $58, signaling greater confidence in the company’s outlook. CSX upgraded by Susquehanna from neutral to positive
• Positive Sentiment: Wall Street expects earnings growth when CSX reports next week, with higher earnings and revenue estimates supported by network gains and recent upgrades, which could help the stock if results meet or beat expectations. CSX Reports Next Week: Wall Street Expects Earnings Growth
• Positive Sentiment: CSX is continuing to modernize operations at Radnor Yard in Nashville by adding power-operated switches, a capital project that should improve safety, reduce manual work, and strengthen long-term efficiency. CSX Upgrades Radnor Yard, Is The Stock Now Pricey?
• Neutral Sentiment: CSX was also reported as being covered by Citizens JMP with a market perform rating, which is more of a wait-and-see stance than a bullish catalyst. CSX is now covered by Citizens Jmp. They set a market perform rating on the stock.
• Negative Sentiment: Recent commentary noted a bridge mechanical failure at CSX’s St. Joseph Harbor swing bridge, highlighting a short-term operational disruption even as the company works on longer-term infrastructure upgrades. What CSX’s Bridge Failure and Radnor Yard Automation Push Means For Shareholders

About CSX

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.