Loop Capital lowered shares of CSX (NASDAQ:CSX) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning, 24/7 WallStreet reports. The brokerage currently has $81.00 target price on the transportation company’s stock, down from their prior target price of $85.00.
CSX has been the topic of several other reports. Stifel Nicolaus set a $80.00 price target on shares of CSX and gave the stock a hold rating in a research report on Wednesday, April 17th. Raymond James set a $8.00 price target on shares of Superior Energy Services and gave the stock a buy rating in a research report on Wednesday, April 17th. Susquehanna Bancshares reissued a neutral rating on shares of CSX in a research report on Wednesday, April 3rd. SNS Securities cut shares of CSX from a positive rating to a neutral rating in a research report on Wednesday, April 3rd. Finally, Zacks Investment Research raised shares of Flagstar Bancorp from a hold rating to a buy rating and set a $38.00 price target on the stock in a research report on Monday. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and nine have given a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $79.18.
NASDAQ CSX traded up $0.67 on Wednesday, reaching $77.25. The company had a trading volume of 2,674,175 shares, compared to its average volume of 4,468,727. The firm has a market cap of $62.51 billion, a price-to-earnings ratio of 20.12, a price-to-earnings-growth ratio of 1.37 and a beta of 1.23. The company has a quick ratio of 1.68, a current ratio of 1.81 and a debt-to-equity ratio of 1.27. CSX has a 1-year low of $58.47 and a 1-year high of $80.73. The stock’s fifty day moving average price is $77.03.
CSX (NASDAQ:CSX) last announced its earnings results on Tuesday, April 16th. The transportation company reported $1.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.11. The firm had revenue of $3.01 billion during the quarter, compared to analyst estimates of $3 billion. CSX had a net margin of 27.84% and a return on equity of 26.13%. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.78 EPS. Research analysts anticipate that CSX will post 4.32 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.24%. CSX’s payout ratio is 25.00%.
In other CSX news, EVP Nathan D. Goldman sold 7,000 shares of the stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $79.50, for a total transaction of $556,500.00. Following the transaction, the executive vice president now owns 79,697 shares in the company, valued at approximately $6,335,911.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Angela C. Williams sold 9,560 shares of the stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $79.14, for a total transaction of $756,578.40. Following the transaction, the vice president now owns 14,607 shares in the company, valued at approximately $1,155,997.98. The disclosure for this sale can be found here. 4.83% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the business. Suntrust Banks Inc. boosted its position in shares of CSX by 15.2% during the 4th quarter. Suntrust Banks Inc. now owns 342,170 shares of the transportation company’s stock worth $21,259,000 after acquiring an additional 45,146 shares in the last quarter. Toronto Dominion Bank boosted its position in shares of CSX by 12.9% during the 1st quarter. Toronto Dominion Bank now owns 548,518 shares of the transportation company’s stock worth $41,029,000 after acquiring an additional 62,798 shares in the last quarter. Thoroughbred Financial Services LLC acquired a new stake in shares of CSX during the 4th quarter worth approximately $221,000. Natixis Advisors L.P. boosted its position in shares of CSX by 8.8% during the 4th quarter. Natixis Advisors L.P. now owns 133,539 shares of the transportation company’s stock worth $8,296,000 after acquiring an additional 10,835 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of CSX by 1.7% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 90,140 shares of the transportation company’s stock worth $6,744,000 after acquiring an additional 1,493 shares in the last quarter. Hedge funds and other institutional investors own 75.68% 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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