CSX Corporation (NASDAQ:CSX) Receives $45.98 Consensus Price Target from Analysts

CSX Corporation (NASDAQ:CSX) has earned an average rating of “Moderate Buy” from the twenty-five ratings firms that are presently covering the company, Marketbeat.com reports. Nine analysts have rated the stock with a hold recommendation and sixteen have issued a buy recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $46.42.

A number of research firms have recently weighed in on CSX. Argus upped their target price on CSX from $42.00 to $52.00 and gave the company a “buy” rating in a research report on Friday, May 22nd. Citigroup reiterated a “neutral” rating and set a $46.00 target price (up from $44.00) on shares of CSX in a research report on Thursday, April 23rd. Rothschild & Co Redburn upped their target price on CSX from $45.50 to $47.50 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Sanford C. Bernstein upped their target price on CSX from $36.00 to $39.00 and gave the company a “market perform” rating in a research report on Tuesday, March 31st. Finally, TD Cowen upped their target price on CSX from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd.

Insiders Place Their Bets

In other news, CFO Kevin S. Boone sold 136,708 shares of the business’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $46.70, for a total transaction of $6,384,263.60. Following the completion of the transaction, the chief financial officer owned 208,622 shares of the company’s stock, valued at approximately $9,742,647.40. The trade was a 39.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John J. Zillmer sold 10,000 shares of the business’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $46.45, for a total value of $464,500.00. Following the transaction, the director directly owned 353,714 shares of the company’s stock, valued at $16,430,015.30. This trade represents a 2.75% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CSX

Institutional investors have recently modified their holdings of the business. Rathbones Group PLC increased its holdings in CSX by 20.6% in the 3rd quarter. Rathbones Group PLC now owns 207,454 shares of the transportation company’s stock worth $7,367,000 after purchasing an additional 35,403 shares in the last quarter. Canada Post Corp Registered Pension Plan increased its holdings in CSX by 34.2% in the 4th quarter. Canada Post Corp Registered Pension Plan now owns 96,484 shares of the transportation company’s stock worth $3,498,000 after purchasing an additional 24,566 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC increased its holdings in CSX by 81.9% in the 3rd quarter. Cbre Investment Management Listed Real Assets LLC now owns 944,946 shares of the transportation company’s stock worth $33,555,000 after purchasing an additional 425,395 shares in the last quarter. Reaves W H & Co. Inc. acquired a new position in CSX in the 3rd quarter worth about $5,326,000. Finally, SOA Wealth Advisors LLC. increased its holdings in CSX by 26.0% in the 4th quarter. SOA Wealth Advisors LLC. now owns 111,914 shares of the transportation company’s stock worth $4,057,000 after purchasing an additional 23,072 shares in the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Price Performance

Shares of NASDAQ CSX opened at $46.41 on Thursday. The business has a fifty day moving average price of $44.56 and a two-hundred day moving average price of $40.42. The stock has a market capitalization of $86.24 billion, a PE ratio of 28.47, a P/E/G ratio of 2.45 and a beta of 1.22. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.97 and a quick ratio of 0.83. CSX has a fifty-two week low of $31.80 and a fifty-two week high of $47.55.

CSX (NASDAQ:CSX) last released its earnings results on Wednesday, April 22nd. The transportation company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.04. The firm had revenue of $3.48 billion during the quarter, compared to the consensus estimate of $3.50 billion. CSX had a return on equity of 24.47% and a net margin of 21.55%.The company’s revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.34 EPS. As a group, equities analysts predict that CSX will post 1.9 earnings per share for the current fiscal year.

CSX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Friday, May 29th. CSX’s dividend payout ratio is presently 34.36%.

About CSX

CSX Corporation is a leading North American transportation company that provides rail-based freight services and supply-chain solutions. Its operating subsidiary, CSX Transportation, moves a wide range of goods for customers across multiple industries, using a combination of long-haul rail service, intermodal operations and terminal and yard services. The company focuses on delivering efficient, reliable freight transportation between major production centers, consumption markets and port gateways.

CSX’s freight portfolio includes intermodal containers and trailers, bulk commodities, industrial products and specialized unit trains.