CSX (NASDAQ:CSX) Sets New 12-Month High – Still a Buy?

Shares of CSX Corporation (NASDAQ:CSX) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $48.42 and last traded at $48.1520, with a volume of 1067452 shares traded. The stock had previously closed at $47.66.

Key Headlines Impacting CSX

Here are the key news stories impacting CSX this week:

• Positive Sentiment: Wall Street expects CSX’s upcoming quarterly report to show higher profits, with one preview noting a high single-digit increase in earnings. That expectation can support the stock ahead of results. What You Need To Know Ahead of CSX Corporation’s Earnings Release
• Positive Sentiment: Brokerage sentiment remains constructive, with CSX carrying a “Moderate Buy” consensus recommendation, which can reinforce investor confidence. CSX Corporation (NASDAQ:CSX) Given Consensus Recommendation of “Moderate Buy” by Brokerages
• Positive Sentiment: Industry coverage also pointed to “fresh rail momentum,” suggesting improving sentiment around rail freight trends and CSX’s operating environment. CSX Corporation (NASDAQ:CSX) Signals Fresh Rail Momentum
• Neutral Sentiment: Multiple local news reports described accidents involving CSX trains and trucks in the Atlanta area, including a derailment and tractor-trailer collisions. These incidents appear more operational and safety-related than financially material unless they lead to broader service disruptions or regulatory scrutiny. Three Trucks Hit CSX Trains in Metro Atlanta in Under a Week. Every One of Them Is a Lesson in the Crossing Mistake That Kills Drivers.
• Neutral Sentiment: CSX also had routine industrial development coverage, which may signal ongoing business activity but does not by itself change the investment outlook. Industrial Development Briefs: CN, CSX

Analysts Set New Price Targets

A number of brokerages have weighed in on CSX. Raymond James Financial boosted their target price on shares of CSX from $45.00 to $49.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Royal Bank Of Canada lifted their price objective on CSX from $47.00 to $51.00 and gave the stock an “outperform” rating in a report on Wednesday, June 24th. Benchmark upped their price objective on CSX from $46.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Argus increased their target price on CSX from $42.00 to $52.00 and gave the company a “buy” rating in a report on Friday, May 22nd. Finally, Wolfe Research restated an “outperform” rating and set a $50.00 price target on shares of CSX in a research note on Thursday, April 23rd. Sixteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.18.

CSX Trading Down 1.0%

The stock has a 50 day moving average of $45.91 and a 200-day moving average of $41.53. The company has a market capitalization of $88.32 billion, a P/E ratio of 29.16, a P/E/G ratio of 2.40 and a beta of 1.22. The company has a current ratio of 0.97, a quick ratio of 0.83 and a debt-to-equity ratio of 1.34.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Wednesday, April 22nd. The transportation company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.04. The business had revenue of $3.48 billion for the quarter, compared to the consensus estimate of $3.50 billion. CSX had a net margin of 21.55% and a return on equity of 24.47%. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.34 earnings per share. On average, research analysts predict that CSX Corporation will post 1.9 EPS for the current year.

CSX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were issued a $0.14 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $0.56 annualized dividend and a yield of 1.2%. CSX’s dividend payout ratio is currently 34.36%.

Insiders Place Their Bets

In other CSX news, CFO Kevin S. Boone sold 136,708 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer directly owned 208,622 shares of the company’s stock, valued at $9,742,647.40. This trade represents a 39.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John J. Zillmer sold 10,000 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $46.45, for a total value of $464,500.00. Following the completion of the transaction, the director owned 353,714 shares in the company, valued at $16,430,015.30. The trade was a 2.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.30% of the company’s stock.

Institutional Trading of CSX

Several hedge funds have recently bought and sold shares of the stock. Syon Capital LLC grew its holdings in CSX by 1.0% during the 4th quarter. Syon Capital LLC now owns 28,316 shares of the transportation company’s stock valued at $1,026,000 after buying an additional 287 shares in the last quarter. Root Financial Partners LLC lifted its position in CSX by 7.3% in the fourth quarter. Root Financial Partners LLC now owns 4,757 shares of the transportation company’s stock worth $172,000 after buying an additional 323 shares during the last quarter. Walled Lake Planning & Wealth Management LLC boosted its stake in shares of CSX by 2.7% during the 4th quarter. Walled Lake Planning & Wealth Management LLC now owns 13,235 shares of the transportation company’s stock worth $480,000 after purchasing an additional 346 shares during the period. Sumitomo Life Insurance Co. raised its position in CSX by 0.9% in the 4th quarter. Sumitomo Life Insurance Co. now owns 39,996 shares of the transportation company’s stock worth $1,450,000 after purchasing an additional 347 shares during the period. Finally, Wilkerson Advisory Group LLC lifted its stake in CSX by 97.4% in the first quarter. Wilkerson Advisory Group LLC now owns 829 shares of the transportation company’s stock worth $34,000 after purchasing an additional 409 shares during the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

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.