Shares of CSX Corporation (NASDAQ:CSX – Get Free Report) have been assigned an average rating of “Moderate Buy” from the twenty-six analysts that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have issued a buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $51.3148.
Several brokerages have issued reports on CSX. Citigroup increased their price objective on shares of CSX from $53.00 to $54.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. JPMorgan Chase & Co. upped their target price on shares of CSX from $56.00 to $58.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Weiss Ratings raised shares of CSX from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Robert W. Baird boosted their price objective on shares of CSX from $49.00 to $53.00 and gave the stock an “outperform” rating in a report on Tuesday, July 7th. Finally, Truist Financial set a $46.00 price objective on shares of CSX in a research report on Friday, July 10th.
Read Our Latest Analysis on CSX
CSX Price Performance
CSX (NASDAQ:CSX – Get Free Report) last posted its earnings results on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. The business had revenue of $3.94 billion during the quarter, compared to analyst estimates of $3.89 billion. CSX had a return on equity of 24.98% and a net margin of 22.21%.The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.44 earnings per share. On average, equities analysts anticipate that CSX will post 2 EPS for the current fiscal year.
CSX Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Monday, August 31st were paid a $0.14 dividend. The ex-dividend date was Monday, August 31st. This represents a $0.56 annualized dividend and a dividend yield of 1.2%. CSX’s payout ratio is 32.37%.
Insider Activity
In other CSX news, CAO Angela C. Williams sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $53.29, for a total transaction of $1,598,700.00. Following the completion of the sale, the chief accounting officer owned 10,437 shares in the company, valued at $556,187.73. This trade represents a 74.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael S. Burns sold 13,000 shares of CSX stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $52.68, for a total value of $684,840.00. Following the sale, the senior vice president owned 59,643 shares in the company, valued at $3,141,993.24. This represents a 17.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.30% of the company’s stock.
Institutional Trading of CSX
A number of hedge funds and other institutional investors have recently made changes to their positions in CSX. BlackRock Inc. bought a new position in CSX during the 2nd quarter valued at $7,655,277,000. Bank of America Corp DE acquired a new stake in shares of CSX in the 2nd quarter valued at about $1,598,962,000. Bank of New York Mellon Corp acquired a new stake in shares of CSX in the 2nd quarter valued at about $950,325,000. XXEC Inc. bought a new position in shares of CSX during the second quarter worth about $765,595,000. Finally, Legal & General Group Plc acquired a new position in CSX in the second quarter worth about $747,001,000. Institutional investors own 73.57% of the company’s stock.
CSX Company Profile
CSX Corporation (NASDAQ: CSX) is a transportation company that operates one of the largest rail networks in the eastern United States. Through its CSX Transportation subsidiary, the company provides rail freight transportation and logistics services for manufacturers, distributors, utilities, agricultural businesses and other commercial customers.
CSX transports a broad range of products, including chemicals, agricultural and food products, minerals, forest products, metals, automobiles and consumer goods.
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