CSX Corporation (NASDAQ:CSX) Receives Average Rating of “Moderate Buy” from Brokerages

CSX Corporation (NASDAQ:CSX) has earned a consensus rating of “Moderate Buy” from the twenty-six ratings firms that are covering the company, Marketbeat reports. Seven equities research analysts have rated the stock with a hold recommendation, eighteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $38.7083.

Several research analysts recently commented on the stock. TD Cowen raised their price target on shares of CSX from $38.00 to $39.00 and gave the stock a “buy” rating in a research note on Friday, October 17th. Citigroup upped their target price on shares of CSX from $41.00 to $42.00 in a research note on Friday, October 17th. The Goldman Sachs Group lifted their price target on shares of CSX from $35.00 to $37.00 and gave the company a “neutral” rating in a research note on Friday, October 17th. Barclays reiterated an “overweight” rating on shares of CSX in a report on Monday, October 20th. Finally, Royal Bank Of Canada raised their price objective on CSX from $39.00 to $41.00 and gave the stock an “outperform” rating in a report on Tuesday, September 30th.

CSX Trading Up 2.0%

Shares of NASDAQ CSX opened at $37.09 on Thursday. CSX has a fifty-two week low of $26.22 and a fifty-two week high of $37.28. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.71 and a current ratio of 0.85. The company has a market cap of $69.07 billion, a price-to-earnings ratio of 24.24, a PEG ratio of 3.10 and a beta of 1.30. The business’s 50 day moving average price is $35.53 and its 200-day moving average price is $34.24.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Thursday, October 16th. The transportation company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.42 by $0.02. CSX had a return on equity of 24.95% and a net margin of 20.55%.The company had revenue of $3.59 billion for the quarter, compared to the consensus estimate of $3.60 billion. During the same quarter in the prior year, the company posted $0.45 EPS. CSX’s quarterly revenue was down .9% on a year-over-year basis. On average, sell-side analysts expect that CSX will post 1.83 earnings per share for the current year.

CSX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 28th will be issued a $0.13 dividend. The ex-dividend date is Friday, November 28th. This represents a $0.52 annualized dividend and a dividend yield of 1.4%. CSX’s payout ratio is currently 33.99%.

Insider Transactions at CSX

In related news, EVP Kevin S. Boone sold 31,053 shares of the business’s stock in a transaction that occurred on Wednesday, October 22nd. The shares were sold at an average price of $36.09, for a total value of $1,120,702.77. Following the completion of the transaction, the executive vice president owned 197,521 shares of the company’s stock, valued at $7,128,532.89. The trade was a 13.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Stephen F. Angel bought 55,000 shares of the stock in a transaction on Monday, October 20th. The shares were bought at an average price of $36.87 per share, with a total value of $2,027,850.00. Following the acquisition, the chief executive officer owned 58,234 shares of the company’s stock, valued at $2,147,087.58. This trade represents a 1,700.68% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 0.55% of the company’s stock.

Institutional Trading of CSX

Institutional investors have recently made changes to their positions in the business. Twin Peaks Wealth Advisors LLC acquired a new position in CSX during the 2nd quarter valued at about $25,000. WFA of San Diego LLC purchased a new stake in shares of CSX during the second quarter worth about $28,000. S Bank Fund Management Ltd acquired a new position in shares of CSX during the first quarter valued at about $45,000. Pinnacle Bancorp Inc. raised its holdings in shares of CSX by 121.5% in the third quarter. Pinnacle Bancorp Inc. now owns 1,329 shares of the transportation company’s stock worth $47,000 after buying an additional 729 shares during the last quarter. Finally, Sunbelt Securities Inc. acquired a new position in shares of CSX in the 3rd quarter valued at $67,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

About CSX

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It also transports chemicals, agricultural and food products, minerals, automotive, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities.