CSX Corp. (CSX) Receives “Buy” Rating from Credit Suisse Group AG
CSX has been the topic of a number of other research reports. Citigroup Inc. lifted their price objective on shares of CSX Corp. from $29.00 to $32.00 and gave the stock a buy rating in a research report on Tuesday, September 13th. BMO Capital Markets reaffirmed an outperform rating and issued a $29.00 price objective on shares of CSX Corp. in a research report on Thursday, July 7th. Bank of America Corp. reaffirmed a buy rating and issued a $32.00 price objective on shares of CSX Corp. in a research report on Monday, September 12th. Loop Capital reaffirmed a hold rating and issued a $31.00 price objective on shares of CSX Corp. in a research report on Thursday, September 1st. Finally, Wolfe Research raised shares of CSX Corp. from a market perform rating to an outperform rating and set a $35.00 price objective on the stock in a research report on Tuesday, September 13th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have given a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $29.54.
CSX Corp. (NASDAQ:CSX) opened at 29.33 on Tuesday. The company has a market capitalization of $27.75 billion, a P/E ratio of 16.01 and a beta of 1.32. CSX Corp. has a 52-week low of $21.33 and a 52-week high of $30.53. The firm has a 50-day moving average of $28.31 and a 200 day moving average of $26.77.
CSX Corp. (NASDAQ:CSX) last issued 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 firm had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.69 billion. During the same quarter in the previous year, the firm earned $0.56 EPS. The company’s quarterly revenue was down 11.7% compared to the same quarter last year. Equities analysts predict that CSX Corp. will post $1.75 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date was Monday, August 29th. CSX Corp.’s dividend payout ratio is currently 39.13%.
Several large investors have recently made changes to their positions in CSX. Janus Capital Management LLC raised its stake in shares of CSX Corp. by 2,956.3% in the second quarter. Janus Capital Management LLC now owns 8,445,436 shares of the company’s stock worth $220,257,000 after buying an additional 8,169,105 shares in the last quarter. Norges Bank purchased a new stake in shares of CSX Corp. during the fourth quarter worth about $198,656,000. Wellington Management Group LLP raised its stake in shares of CSX Corp. by 20.1% in the first quarter. Wellington Management Group LLP now owns 37,879,182 shares of the company’s stock worth $975,389,000 after buying an additional 6,331,519 shares in the last quarter. OMERS ADMINISTRATION Corp purchased a new stake in shares of CSX Corp. during the second quarter worth about $132,518,000. Finally, Lazard Asset Management LLC raised its stake in shares of CSX Corp. by 16.2% in the first quarter. Lazard Asset Management LLC now owns 28,572,157 shares of the company’s stock worth $735,731,000 after buying an additional 3,977,973 shares in the last quarter. 68.58% of the stock is owned by hedge funds and other institutional investors.
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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