CSX Corporation (NASDAQ:CSX) Receives $51.31 Average Target Price from Analysts

CSX Corporation (NASDAQ:CSX) has earned a consensus rating of “Moderate Buy” from the twenty-six research firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and eighteen have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $51.3148.

CSX has been the subject of several research reports. Benchmark reiterated a “buy” rating and issued a $54.00 target price (up from $48.00) on shares of CSX in a research note on Wednesday, July 15th. The Goldman Sachs Group reissued a “neutral” rating and set a $41.00 price objective (up from $37.00) on shares of CSX in a report on Thursday, April 23rd. New Street Research set a $49.00 target price on CSX in a research note on Thursday, April 23rd. Wolfe Research reiterated an “outperform” rating and set a $50.00 price target on shares of CSX in a research note on Thursday, April 23rd. Finally, TD Cowen boosted their price target on shares of CSX from $46.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, July 23rd.

CSX Trading Up 0.6%

Shares of CSX stock opened at $50.97 on Tuesday. CSX has a 1 year low of $31.80 and a 1 year high of $53.60. The company’s fifty day simple moving average is $49.30 and its 200-day simple moving average is $45.11. The company has a market cap of $94.42 billion, a price-to-earnings ratio of 29.46, a PEG ratio of 2.31 and a beta of 1.21. The company has a current ratio of 0.82, a quick ratio of 0.72 and a debt-to-equity ratio of 1.22.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.02. CSX had a net margin of 22.21% and a return on equity of 24.98%. The company had revenue of $3.94 billion for the quarter, compared to analyst estimates of $3.89 billion. During the same period last year, the business posted $0.44 EPS. The business’s quarterly revenue was up 10.1% on a year-over-year basis. As a group, sell-side analysts expect that CSX will post 2 EPS for the current year.

CSX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Monday, August 31st. CSX’s payout ratio is 32.37%.

Insider Buying and Selling at CSX

In related news, Director John J. Zillmer sold 10,000 shares of the 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 of the company’s stock, valued at $16,430,015.30. This represents a 2.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction, the chief financial officer owned 208,622 shares of the company’s stock, valued at approximately $9,742,647.40. This represents a 39.59% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 189,708 shares of company stock worth $9,132,304. Insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On CSX

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Canada Post Corp Registered Pension Plan grew its stake in shares of CSX by 34.2% during the fourth quarter. Canada Post Corp Registered Pension Plan now owns 96,484 shares of the transportation company’s stock valued at $3,498,000 after purchasing an additional 24,566 shares during the last quarter. M. Kulyk & Associates LLC bought a new position in CSX in the 2nd quarter worth approximately $8,145,000. Wealthfront Advisers LLC acquired a new position in CSX during the 2nd quarter worth $7,609,000. First National Bank of Omaha acquired a new position in CSX during the 2nd quarter worth $6,248,000. Finally, M3 Wealth Management LLC bought a new position in CSX in the 2nd quarter valued at $3,373,000. 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.