CSX Corp. (CSX) Receives “Buy” Rating from Credit Suisse Group AG
A number of other analysts also recently issued reports on CSX. Credit Agricole SA started coverage on shares of CSX Corp. in a report on Thursday, May 19th. They set an underperform rating and a $27.00 price objective for the company. Bank of America Corp. reissued a buy rating on shares of CSX Corp. in a research note on Wednesday, May 18th. Stifel Nicolaus reissued a buy rating and issued a $28.00 price target on shares of CSX Corp. in a research note on Thursday, May 19th. BMO Capital Markets reissued a buy rating on shares of CSX Corp. in a research note on Friday, June 10th. Finally, Oppenheimer Holdings Inc. started coverage on shares of CSX Corp. in a research note on Wednesday, June 15th. They issued a market perform rating for the company. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have issued a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $29.54.
Shares of CSX Corp. (NASDAQ:CSX) opened at 29.33 on Tuesday. CSX Corp. has a 12-month low of $21.33 and a 12-month high of $30.53. The company has a 50-day moving average price of $28.31 and a 200-day moving average price of $26.77. The firm has a market capitalization of $27.75 billion, a P/E ratio of 16.01 and a beta of 1.32.
CSX Corp. (NASDAQ:CSX) last posted its quarterly earnings data on Wednesday, July 13th. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.03. CSX Corp. had a net margin of 16.07% and a return on equity of 15.24%. The company earned $2.70 billion during the quarter, compared to the consensus estimate of $2.69 billion. During the same period in the previous year, the firm posted $0.56 EPS. The firm’s revenue was down 11.7% compared to the same quarter last year. Equities analysts predict that CSX Corp. will post $1.75 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were given a dividend of $0.18 per share. The ex-dividend date was Monday, August 29th. This represents a $0.72 dividend on an annualized basis and a yield of 2.45%. CSX Corp.’s dividend payout ratio (DPR) is 39.13%.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Legal & General Group Plc increased its position in CSX Corp. by 1.6% in the first quarter. Legal & General Group Plc now owns 4,290,750 shares of the company’s stock valued at $110,488,000 after buying an additional 66,790 shares during the last quarter. Capital Analysts LLC increased its position in CSX Corp. by 241.5% in the second quarter. Capital Analysts LLC now owns 7,567 shares of the company’s stock valued at $711,000 after buying an additional 5,351 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in CSX Corp. during the first quarter valued at $454,000. Simmons Bank acquired a new position in CSX Corp. during the first quarter valued at $329,000. Finally, Gibraltar Capital Management Inc. increased its position in CSX Corp. by 12.6% in the first quarter. Gibraltar Capital Management Inc. now owns 153,538 shares of the company’s stock valued at $3,954,000 after buying an additional 17,239 shares during the last quarter. Institutional investors own 68.58% of the company’s stock.
About CSX Corp.
CSX Corporation, together with its subsidiaries, is a transportation company. The Company provides rail-based transportation services, including rail service and the transport of intermodal containers and trailers. The Company serves three lines of business, such as merchandise business, coal business and intermodal business.
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