The CSX Corp. (CSX) Receives “Buy” Rating from Citigroup Inc.

The CSX Corp. (CSX) Receives “Buy” Rating from Citigroup Inc.

Citigroup Inc. reiterated their buy rating on shares of CSX Corp. (NASDAQ:CSX) in a research note published on Friday. Citigroup Inc. currently has a $34.00 price target on the stock.

Several other brokerages have also recently issued reports on CSX. Cowen and Company upped their price objective on shares of CSX Corp. from $30.00 to $33.00 and gave the company an outperform rating in a research note on Friday. Vertical Research assumed coverage on shares of CSX Corp. in a research note on Tuesday, October 11th. They issued a hold rating for the company. Argus reissued a buy rating and issued a $35.00 price target on shares of CSX Corp. in a research note on Friday, July 15th. Deutsche Bank AG reissued a hold rating and issued a $29.00 price target (up previously from $27.00) on shares of CSX Corp. in a research note on Friday, July 15th. Finally, Royal Bank Of Canada increased their price target on shares of CSX Corp. from $30.00 to $32.00 and gave the company an outperform rating in a research note on Friday, July 15th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $29.75.

Shares of CSX Corp. (NASDAQ:CSX) traded down 0.226% during trading on Friday, reaching $30.955. 2,491,893 shares of the company traded hands. CSX Corp. has a 52 week low of $21.33 and a 52 week high of $31.73. The company has a market capitalization of $29.28 billion, a price-to-earnings ratio of 16.897 and a beta of 1.23. The firm’s 50 day moving average price is $29.50 and its 200-day moving average price is $27.47.

CSX Corp. (NASDAQ:CSX) last announced its quarterly earnings data on Wednesday, October 12th. The company reported $0.48 earnings per share (EPS) for the quarter, beating the 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 company posted $0.52 EPS. The firm’s revenue was down 7.8% on a year-over-year basis. Equities analysts anticipate that CSX Corp. will post $1.75 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Wednesday, November 30th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend is Monday, November 28th. CSX Corp.’s dividend payout ratio (DPR) is presently 40.00%.

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

Hedge funds have recently added to or reduced their stakes in the company. CrestPoint Capital Management LLC boosted its stake in shares of CSX Corp. by 2.4% in the third quarter. CrestPoint Capital Management LLC now owns 8,400 shares of the company’s stock valued at $256,000 after buying an additional 200 shares during the period. Spirit of America Management Corp NY boosted its stake in shares of CSX Corp. by 35.0% in the third quarter. Spirit of America Management Corp NY now owns 13,500 shares of the company’s stock valued at $412,000 after buying an additional 3,500 shares during the period. Charter Trust Co. boosted its stake in shares of CSX Corp. by 6.4% in the third quarter. Charter Trust Co. now owns 61,495 shares of the company’s stock valued at $1,876,000 after buying an additional 3,714 shares during the period. National Pension Service boosted its stake in shares of CSX Corp. by 8.7% in the third quarter. National Pension Service now owns 700,638 shares of the company’s stock valued at $21,369,000 after buying an additional 55,899 shares during the period. Finally, Stock Yards Bank & Trust Co. boosted its stake in shares of CSX Corp. by 11.3% in the third quarter. Stock Yards Bank & Trust Co. now owns 16,732 shares of the company’s stock valued at $510,000 after buying an additional 1,700 shares during the period. Institutional investors own 68.64% of the company’s stock.

About CSX Corp.

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