Brokerages Set CSX Corporation (NASDAQ:CSX) PT at $47.18

CSX Corporation (NASDAQ:CSX) has earned an average recommendation of “Moderate Buy” from the twenty-five ratings firms that are presently covering the firm, MarketBeat.com reports. Nine analysts have rated the stock with a hold recommendation and sixteen have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $47.18.

Several research analysts have recently issued reports on CSX shares. Raymond James Financial upped their price target on shares of CSX from $45.00 to $49.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Barclays reissued an “overweight” rating and set a $55.00 price objective (up from $47.00) on shares of CSX in a report on Thursday, June 25th. Wolfe Research restated an “outperform” rating and set a $50.00 price objective on shares of CSX in a research report on Thursday, April 23rd. Jefferies Financial Group upped their target price on CSX from $50.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. Finally, JPMorgan Chase & Co. increased their target price on CSX from $42.00 to $48.00 and gave the company an “overweight” rating in a research report on Thursday, April 23rd.

CSX Trading Up 1.7%

CSX opened at $48.33 on Monday. The company has a market cap of $89.80 billion, a P/E ratio of 29.65, a PEG ratio of 2.37 and a beta of 1.21. 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 company’s 50 day moving average is $46.00 and its 200-day moving average is $41.61. CSX has a 1-year low of $31.80 and a 1-year high of $48.58.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Wednesday, April 22nd. The transportation company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04. CSX had a net margin of 21.55% and a return on equity of 24.47%. The business had revenue of $3.48 billion during the quarter, compared to analysts’ expectations of $3.50 billion. During the same period in the prior year, the company earned $0.34 EPS. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. Equities research analysts predict that CSX will post 1.9 earnings per share for the current fiscal year.

CSX Announces Dividend

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

Insider Buying and Selling

In other CSX news, Director John J. Zillmer sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were 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 in the company, valued at approximately $16,430,015.30. This represents a 2.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kevin S. Boone sold 136,708 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $46.70, for a total transaction of $6,384,263.60. Following the transaction, the chief financial officer directly owned 208,622 shares of the company’s stock, valued at $9,742,647.40. The trade was a 39.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Rathbones Group PLC lifted its position in shares of CSX by 5.2% in the 1st quarter. Rathbones Group PLC now owns 113,321 shares of the transportation company’s stock worth $4,652,000 after purchasing an additional 5,624 shares during the period. Strategic Investment Advisors MI acquired a new stake in shares of CSX during the first quarter worth $103,000. EverSource Wealth Advisors LLC increased its position in shares of CSX by 23.0% during the first quarter. EverSource Wealth Advisors LLC now owns 16,559 shares of the transportation company’s stock worth $680,000 after buying an additional 3,097 shares during the period. Wilkerson Advisory Group LLC raised its stake in CSX by 97.4% during the first quarter. Wilkerson Advisory Group LLC now owns 829 shares of the transportation company’s stock worth $34,000 after buying an additional 409 shares during the last quarter. Finally, Resolute Wealth Strategies LLC raised its stake in CSX by 15.0% during the first quarter. Resolute Wealth Strategies LLC now owns 7,425 shares of the transportation company’s stock worth $305,000 after buying an additional 970 shares during the last quarter. 73.57% of the stock is owned by institutional investors and hedge funds.

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.