CSX Corp. (NASDAQ:CSX) was upgraded by Barclays PLC to a “buy” rating in a note issued to investors on Monday. The firm presently has a $35.00 price target on the stock. Barclays PLC’s price objective suggests a potential upside of 25.49% from the company’s previous close.
CSX has been the topic of several other reports. Stifel Nicolaus cut shares of CSX Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, July 14th. They noted that the move was a valuation call. Citigroup Inc. restated a “buy” rating and issued a $29.00 price objective on shares of CSX Corp. in a research report on Saturday, June 18th. Oppenheimer Holdings Inc. assumed coverage on shares of CSX Corp. in a research report on Wednesday, June 15th. They issued a “market perform” rating on the stock. Argus restated a “buy” rating and issued a $35.00 price objective on shares of CSX Corp. in a research report on Friday, July 15th. Finally, Loop Capital restated a “hold” rating on shares of CSX Corp. in a research report on Friday. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $29.00.
Shares of CSX Corp. (NASDAQ:CSX) opened at 27.89 on Monday. The company has a market cap of $26.38 billion, a price-to-earnings ratio of 15.22 and a beta of 1.32. The stock has a 50 day moving average of $28.30 and a 200 day moving average of $26.67. CSX Corp. has a 1-year low of $21.33 and a 1-year high of $30.53.
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CSX Corp. (NASDAQ:CSX) last posted its quarterly earnings data on Wednesday, July 13th. The company reported $0.47 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.03. The company had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.69 billion. CSX Corp. had a net margin of 16.07% and a return on equity of 15.24%. CSX Corp.’s revenue for the quarter was down 11.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.56 earnings per share. Analysts predict that CSX Corp. will post $1.75 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Wednesday, August 31st will be issued a $0.18 dividend. The ex-dividend date is Monday, August 29th. This represents a $0.72 annualized dividend and a yield of 2.58%. CSX Corp.’s payout ratio is 39.13%.
A number of large investors recently added to or reduced their stakes in CSX. Schonfeld Strategic Advisors LLC acquired a new stake in CSX Corp. during the first quarter valued at approximately $207,000. Canandaigua National Bank & Trust Co. increased its stake in CSX Corp. by 3.9% in the second quarter. Canandaigua National Bank & Trust Co. now owns 8,295 shares of the company’s stock valued at $216,000 after buying an additional 315 shares during the last quarter. Mariner Wealth Advisors LLC increased its stake in CSX Corp. by 1.1% in the first quarter. Mariner Wealth Advisors LLC now owns 9,242 shares of the company’s stock valued at $238,000 after buying an additional 105 shares during the last quarter. FDO Partners LLC acquired a new stake in CSX Corp. during the first quarter valued at approximately $252,000. Finally, Sii Investments Inc. WI acquired a new stake in CSX Corp. during the first quarter valued at approximately $256,000. Institutional investors own 68.58% of the company’s stock.
About CSX Corp.
CSX Corporation, together with its subsidiaries, is a transportation company. The Company provides rail-based transportation services, including rail service and the transport of intermodal containers and trailers. The Company serves three lines of business, such as merchandise business, coal business and intermodal business.
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