CSX Corporation (NASDAQ:CSX) Stock Has Average Target Price of $52.20 According to Analysts

Shares of CSX Corporation (NASDAQ:CSX – Get Free Report) have been given a consensus recommendation of “Moderate Buy” by the twenty-six analysts that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eighteen have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $52.20.

Several analysts have commented on CSX shares. Sanford C. Bernstein restated a “market perform” rating and issued a $49.00 price objective on shares of CSX in a report on Thursday, October 22nd. Stephens assumed coverage on CSX in a research report on Wednesday, July 8th. They set an “overweight” rating and a $57.00 price target on the stock. Bank of America lifted their price target on CSX from $55.00 to $57.00 and gave the company a “buy” rating in a research report on Thursday, October 22nd. BMO Capital Markets reissued a “market perform” rating and set a $52.00 price objective (up from $49.00) on shares of CSX in a research note on Thursday, July 23rd. Finally, Evercore set a $53.00 price objective on shares of CSX in a report on Friday, October 23rd.

Get Our Latest Research Report on CSX

Insider Transactions at CSX

In related news, Director John Zillmer sold 19,500 shares of the firm’s stock in a transaction that occurred on Monday, October 26th. The shares were sold at an average price of $51.24, for a total value of $999,180.00. Following the sale, the director owned 334,214 shares in the company, valued at approximately $17,125,125.36. This trade represents a 5.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On CSX

Several hedge funds and other institutional investors have recently modified their holdings of CSX. BlackRock Inc. purchased a new position in CSX during the 2nd quarter valued at approximately $7,655,277,000. Bank of America Corp DE purchased a new stake in shares of CSX during the 2nd quarter worth approximately $1,598,962,000. Bank of New York Mellon Corp purchased a new stake in shares of CSX during the 2nd quarter worth approximately $950,325,000. XXEC Inc. bought a new position in shares of CSX during the 2nd quarter valued at approximately $765,595,000. Finally, Legal & General Group Plc bought a new position in shares of CSX during the 2nd quarter valued at approximately $747,001,000. 73.57% of the stock is owned by institutional investors.

CSX Price Performance

NASDAQ:CSX opened at $50.72 on Friday. CSX has a 52-week low of $33.63 and a 52-week high of $53.60. The stock has a fifty day moving average of $48.85 and a 200 day moving average of $45.67. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.75 and a current ratio of 0.84. The firm has a market capitalization of $93.50 billion, a price-to-earnings ratio of 26.75, a P/E/G ratio of 2.27 and a beta of 1.12.

CSX (NASDAQ:CSX – Get Free Report) last announced its quarterly earnings data on Wednesday, October 21st. The transportation company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.04. CSX had a return on equity of 25.94% and a net margin of 23.97%. The company had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.96 billion. During the same period last year, the firm posted $0.44 EPS. CSX’s revenue for the quarter was up 12.0% compared to the same quarter last year. On average, research analysts expect that CSX will post 2.04 EPS for the current fiscal year.

CSX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 30th will be given a $0.14 dividend. The ex-dividend date of this dividend is Monday, November 30th. This represents a $0.56 dividend on an annualized basis and a yield of 1.1%. CSX’s payout ratio is 29.02%.

CSX Company Profile

(Get Free Report)

CSX Corporation is a transportation company whose primary business is freight railroading through its CSX Transportation subsidiary. The company operates an extensive rail network across the eastern United States, serving major industrial centers, population hubs, ports and distribution markets.

CSX transports a broad range of products, including chemicals, agricultural and food products, forest products, minerals, metals, automotive goods and other manufactured merchandise. Its services also include intermodal transportation, which combines rail service with trucks and containers, as well as the movement of coal and other bulk commodities.

The company traces its roots to the formation of CSX Corporation in 1980 through the merger of Chessie System and Seaboard Coast Line Industries.

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Analyst Recommendations for CSX (NASDAQ:CSX)

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