UBS AG Analysts Give CSX Corporation (CSX) a $68.00 Price Target
UBS AG set a $68.00 price target on CSX Corporation (NASDAQ:CSX) in a research note published on Monday, www.benzinga.com reports. The brokerage currently has a buy rating on the transportation company’s stock.
A number of other equities analysts have also commented on the company. BidaskClub raised CSX Corporation from a sell rating to a hold rating in a research note on Tuesday, September 12th. TD Securities reduced their price target on CSX Corporation from $64.00 to $63.00 and set a buy rating on the stock in a report on Thursday, July 20th. Royal Bank Of Canada reiterated a buy rating and issued a $65.00 price target on shares of CSX Corporation in a report on Wednesday, July 12th. Morgan Stanley downgraded CSX Corporation from an equal weight rating to an underweight rating and reduced their price target for the stock from $44.00 to $43.00 in a report on Monday, October 2nd. Finally, Stifel Nicolaus reiterated a hold rating and issued a $55.00 price target (down from $57.00) on shares of CSX Corporation in a report on Thursday, September 7th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. CSX Corporation currently has an average rating of Buy and a consensus price target of $54.82.
CSX Corporation (CSX) opened at 53.68 on Monday. CSX Corporation has a 52 week low of $30.01 and a 52 week high of $55.48. The company has a market cap of $49.03 billion, a P/E ratio of 28.08 and a beta of 1.35. The firm has a 50-day moving average price of $52.31 and a 200 day moving average price of $51.57.
CSX Corporation (NASDAQ:CSX) last issued its quarterly earnings results on Tuesday, October 17th. The transportation company reported $0.51 EPS for the quarter, hitting analysts’ consensus estimates of $0.51. CSX Corporation had a return on equity of 17.28% and a net margin of 15.45%. The business had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.77 billion. During the same quarter in the prior year, the business posted $0.48 earnings per share. The business’s quarterly revenue was up 1.2% on a year-over-year basis. Analysts expect that CSX Corporation will post $2.21 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.49%. CSX Corporation’s payout ratio is currently 41.24%.
CSX Corporation declared that its Board of Directors has authorized a share buyback plan on Tuesday, July 18th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the transportation company to buy up to 1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
In other CSX Corporation news, Director Ridge Lp Mantle bought 1,357,000 shares of CSX Corporation stock in a transaction that occurred on Friday, July 21st. The shares were acquired at an average price of $51.59 per share, for a total transaction of $70,007,630.00. Following the acquisition, the director now owns 106 shares of the company’s stock, valued at approximately $5,468.54. The acquisition was disclosed in a filing with the SEC, which is available at this link. 4.79% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the business. Gradient Investments LLC increased its position in shares of CSX Corporation by 38.1% in the 2nd quarter. Gradient Investments LLC now owns 1,954 shares of the transportation company’s stock worth $107,000 after purchasing an additional 539 shares during the last quarter. Reilly Financial Advisors LLC grew its position in shares of CSX Corporation by 33.1% during the 2nd quarter. Reilly Financial Advisors LLC now owns 2,012 shares of the transportation company’s stock valued at $110,000 after buying an additional 500 shares during the last quarter. Parallel Advisors LLC grew its position in shares of CSX Corporation by 14.9% during the 2nd quarter. Parallel Advisors LLC now owns 2,194 shares of the transportation company’s stock valued at $108,000 after buying an additional 285 shares during the last quarter. LBA Wealth Management LLC grew its position in shares of CSX Corporation by 323.1% during the 1st quarter. LBA Wealth Management LLC now owns 2,619 shares of the transportation company’s stock valued at $122,000 after buying an additional 2,000 shares during the last quarter. Finally, Madden Advisory Services Inc. bought a new stake in shares of CSX Corporation during the 1st quarter valued at about $155,000. Hedge funds and other institutional investors own 69.78% of the company’s stock.
About CSX Corporation
CSX Corporation is a transportation company. The Company provides rail-based freight transportation services, including traditional rail service and transport of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations.
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