CSX Co. (CSX) Given Consensus Rating of “Buy” by Brokerages
Shares of CSX Co. (NASDAQ:CSX) have received a consensus rating of “Buy” from the twenty-four research firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $75.37.
CSX has been the subject of a number of research analyst reports. Argus restated a “buy” rating and set a $71.00 target price on shares of CSX in a report on Friday, January 18th. Loop Capital raised their target price on CSX to $87.00 and gave the company a “buy” rating in a report on Thursday, January 17th. Morgan Stanley increased their price target on CSX from $55.00 to $56.00 and gave the company an “underweight” rating in a research report on Monday, January 7th. Royal Bank of Canada reduced their price target on CSX to $80.00 and set an “outperform” rating on the stock in a research report on Thursday, January 17th. Finally, Deutsche Bank increased their price target on CSX from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, December 3rd.
Shares of CSX stock opened at $73.40 on Thursday. CSX has a 12 month low of $53.53 and a 12 month high of $76.24. The stock has a market cap of $59.65 billion, a P/E ratio of 19.11, a PEG ratio of 1.29 and a beta of 1.29. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.34 and a quick ratio of 1.20.
CSX announced that its Board of Directors has authorized a stock repurchase program on Wednesday, January 16th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the transportation company to reacquire up to 9.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 28th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.31%. The ex-dividend date was Wednesday, February 27th. This is a positive change from CSX’s previous quarterly dividend of $0.22. CSX’s dividend payout ratio (DPR) is 25.00%.
In other news, Director Ridge Lp Mantle sold 1,930,318 shares of the firm’s stock in a transaction dated Thursday, January 24th. The stock was sold at an average price of $65.01, for a total transaction of $125,489,973.18. Following the sale, the director now owns 106 shares of the company’s stock, valued at approximately $6,891.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.03% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp increased its position in CSX by 2.1% during the third quarter. Bank of New York Mellon Corp now owns 9,482,962 shares of the transportation company’s stock worth $702,214,000 after buying an additional 193,133 shares during the period. Martingale Asset Management L P acquired a new position in CSX during the third quarter worth approximately $520,000. DekaBank Deutsche Girozentrale increased its position in CSX by 10.9% during the third quarter. DekaBank Deutsche Girozentrale now owns 134,837 shares of the transportation company’s stock worth $10,251,000 after buying an additional 13,259 shares during the period. Westpac Banking Corp increased its position in CSX by 47.9% during the third quarter. Westpac Banking Corp now owns 98,388 shares of the transportation company’s stock worth $7,286,000 after buying an additional 31,861 shares during the period. Finally, FDx Advisors Inc. acquired a new position in CSX during the third quarter worth approximately $523,000. 76.80% of the stock is currently owned by institutional investors and hedge funds.
CSX Company Profile
CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services, as well as transports intermodal containers and trailers. It transports chemicals, automotive, agricultural and food products, minerals, fertilizers, forest products, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.
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