BidaskClub upgraded shares of CSX (NASDAQ:CSX) from a sell rating to a hold rating in a research report sent to investors on Tuesday.
Other equities research analysts have also issued research reports about the company. UBS Group set a $68.00 target price on CSX and gave the company a buy rating in a research note on Sunday, December 17th. Scotiabank set a $55.00 target price on CSX and gave the company a buy rating in a research note on Friday, December 15th. Barclays reaffirmed a buy rating and issued a $68.00 target price on shares of CSX in a research note on Wednesday, December 13th. Citigroup reissued a buy rating and set a $64.00 price target on shares of CSX in a research note on Wednesday, January 17th. Finally, Robert W. Baird reissued a buy rating and set a $59.00 price target on shares of CSX in a research note on Tuesday, January 9th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eighteen have given a buy rating to the company. The company has an average rating of Buy and an average target price of $60.71.
Shares of CSX (NASDAQ:CSX) opened at $56.14 on Tuesday. CSX has a 52 week low of $45.41 and a 52 week high of $60.04. The company has a quick ratio of 0.81, a current ratio of 1.01 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $50,022.37, a P/E ratio of 24.51, a P/E/G ratio of 1.36 and a beta of 1.27.
CSX (NASDAQ:CSX) last posted its earnings results on Tuesday, January 16th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.08. CSX had a return on equity of 17.16% and a net margin of 47.96%. The firm had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.89 billion. During the same quarter in the prior year, the company earned $0.49 EPS. CSX’s revenue was down 5.7% on a year-over-year basis. equities analysts forecast that CSX will post 3.1 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.57%. This is an increase from CSX’s previous quarterly dividend of $0.20. The ex-dividend date is Wednesday, February 28th. CSX’s dividend payout ratio is presently 14.50%.
CSX announced that its board has approved a share repurchase program on Monday, February 12th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the transportation company to purchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
Several hedge funds have recently added to or reduced their stakes in CSX. Nationwide Fund Advisors increased its holdings in shares of CSX by 2.3% during the 3rd quarter. Nationwide Fund Advisors now owns 376,906 shares of the transportation company’s stock worth $20,451,000 after buying an additional 8,365 shares during the last quarter. Cavalier Investments LLC acquired a new stake in shares of CSX during the 3rd quarter worth $1,400,000. Russell Investments Group Ltd. increased its holdings in shares of CSX by 10.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,518,838 shares of the transportation company’s stock worth $82,401,000 after buying an additional 149,208 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of CSX during the 3rd quarter worth $4,456,000. Finally, Pacer Advisors Inc. increased its holdings in CSX by 13.1% in the 3rd quarter. Pacer Advisors Inc. now owns 36,018 shares of the transportation company’s stock valued at $1,954,000 after purchasing an additional 4,177 shares in the last quarter. Institutional investors and hedge funds own 74.77% of the company’s stock.
CSX Corporation is a transportation company. The Company provides rail-based freight transportation services, including traditional rail service and transport of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations.