Today, CSX Corp. (CSX) PT Raised to $33.00

Today, CSX Corp. (CSX) PT Raised to $33.00

CSX Corp. (NASDAQ:CSX) had its price target hoisted by research analysts at Cowen and Company from $30.00 to $33.00 in a research report issued to clients and investors on Friday. The firm currently has an “outperform” rating on the stock. Cowen and Company’s price target would indicate a potential upside of 6.42% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of CSX Corp. in a research note on Sunday, July 17th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of CSX Corp. in a research note on Friday, July 15th. Stifel Nicolaus downgraded shares of CSX Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, July 14th. They noted that the move was a valuation call. Barclays PLC reaffirmed an “equal weight” rating on shares of CSX Corp. in a research note on Friday, July 15th. Finally, BB&T Corp. cut shares of CSX Corp. from a “buy” rating to a “hold” rating in a research report on Friday, July 15th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and fourteen have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $29.75.

Shares of CSX Corp. (NASDAQ:CSX) opened at 31.01 on Friday. The stock has a market cap of $29.34 billion, a P/E ratio of 16.93 and a beta of 1.23. The firm has a 50-day moving average of $29.58 and a 200-day moving average of $27.52. CSX Corp. has a 52-week low of $21.33 and a 52-week high of $31.73.

CSX Corp. (NASDAQ:CSX) last announced its earnings results on Wednesday, October 12th. The company reported $0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.03. CSX Corp. had a net margin of 15.93% and a return on equity of 14.79%. The company earned $2.71 billion during the quarter. During the same period in the prior year, the firm posted $0.52 earnings per share. The company’s revenue was down 7.8% on a year-over-year basis. On average, equities analysts expect that CSX Corp. will post $1.75 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, November 30th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Monday, November 28th. This represents a $0.72 annualized dividend and a dividend yield of 2.32%. CSX Corp.’s dividend payout ratio is currently 40.00%.

In related news, President Clarence W. Gooden sold 17,332 shares of the company’s stock in a transaction dated Monday, September 26th. The shares were sold at an average price of $29.44, for a total value of $510,254.08. Following the transaction, the president now directly owns 127,954 shares in the company, valued at $3,766,965.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Clarence W. Gooden sold 16,129 shares of the company’s stock in a transaction dated Thursday, October 6th. The shares were sold at an average price of $31.00, for a total transaction of $499,999.00. Following the completion of the transaction, the president now owns 127,954 shares in the company, valued at $3,966,574. The disclosure for this sale can be found here. 0.36% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Washington Trust Bank increased its position in CSX Corp. by 7.7% in the third quarter. Washington Trust Bank now owns 3,644 shares of the company’s stock valued at $111,000 after buying an additional 259 shares during the period. Brick & Kyle Associates increased its position in CSX Corp. by 8.1% in the second quarter. Brick & Kyle Associates now owns 4,000 shares of the company’s stock valued at $104,000 after buying an additional 300 shares during the period. Community Bank N.A. increased its position in CSX Corp. by 19.9% in the third quarter. Community Bank N.A. now owns 4,300 shares of the company’s stock valued at $132,000 after buying an additional 715 shares during the period. Advisors Asset Management Inc. acquired a new position in CSX Corp. during the second quarter valued at approximately $117,000. Finally, WFG Advisors LP increased its position in CSX Corp. by 17.1% in the second quarter. WFG Advisors LP now owns 6,537 shares of the company’s stock valued at $170,000 after buying an additional 956 shares during the period. Institutional investors and hedge funds own 68.64% of the company’s stock.

CSX Corp. Company Profile

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