CSX (NASDAQ:CSX) had its price objective hoisted by Bank of America from $85.00 to $89.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have a buy rating on the transportation company’s stock.
Several other equities analysts have also recently weighed in on CSX. Morgan Stanley raised their price target on CSX from $50.00 to $52.00 and gave the company an equal weight rating in a report on Thursday, July 23rd. Atlantic Securities upgraded shares of CSX from a neutral rating to an overweight rating and set a $92.00 price target on the stock in a report on Wednesday, September 23rd. Raymond James upped their price target on shares of CSX from $76.00 to $86.00 and gave the stock an outperform rating in a report on Tuesday. Barclays upped their price target on shares of CSX from $67.00 to $76.00 and gave the stock an overweight rating in a report on Tuesday, June 2nd. Finally, Argus upped their price target on shares of CSX from $72.00 to $82.00 and gave the stock a buy rating in a report on Friday, July 24th. Nine investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $77.04.
Shares of NASDAQ:CSX opened at $77.67 on Wednesday. CSX has a 1 year low of $46.81 and a 1 year high of $81.40. The stock’s fifty day moving average price is $76.55 and its 200-day moving average price is $68.63. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.62 and a quick ratio of 1.51. The company has a market cap of $59.42 billion, a P/E ratio of 20.88, a PEG ratio of 2.91 and a beta of 1.17.
CSX (NASDAQ:CSX) last issued its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.01. CSX had a return on equity of 24.24% and a net margin of 26.39%. The business had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter in the prior year, the business posted $1.08 earnings per share. On average, sell-side analysts anticipate that CSX will post 3.52 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st were given a $0.26 dividend. The ex-dividend date of this dividend was Friday, August 28th. This represents a $1.04 dividend on an annualized basis and a yield of 1.34%. CSX’s payout ratio is 24.94%.
In other news, CAO Diana B. Sorfleet sold 36,836 shares of the firm’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $75.30, for a total transaction of $2,773,750.80. Following the transaction, the chief accounting officer now owns 59,064 shares in the company, valued at approximately $4,447,519.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Nathan D. Goldman sold 25,000 shares of the firm’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $75.54, for a total transaction of $1,888,500.00. Following the transaction, the executive vice president now owns 100,174 shares in the company, valued at approximately $7,567,143.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 82,336 shares of company stock valued at $6,140,916. Insiders own 0.58% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Watson Rebecca bought a new stake in shares of CSX in the 2nd quarter worth approximately $29,000. Tarbox Family Office Inc. increased its stake in shares of CSX by 55.9% in the 2nd quarter. Tarbox Family Office Inc. now owns 491 shares of the transportation company’s stock valued at $34,000 after buying an additional 176 shares during the period. NuWave Investment Management LLC acquired a new stake in shares of CSX in the 2nd quarter valued at $44,000. Keebeck Wealth Management LLC acquired a new stake in shares of CSX in the 2nd quarter valued at $60,000. Finally, Bay Harbor Wealth Management LLC increased its stake in shares of CSX by 29.6% in the 1st quarter. Bay Harbor Wealth Management LLC now owns 875 shares of the transportation company’s stock valued at $50,000 after buying an additional 200 shares during the period. Institutional investors and hedge funds own 73.51% of the company’s stock.
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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