Stifel Nicolaus Reaffirms Hold Rating for CSX Corporation (CSX)

Stifel Nicolaus reaffirmed their hold rating on shares of CSX Corporation (NASDAQ:CSX) in a report issued on Thursday morning. The brokerage currently has a $55.00 price target on the transportation company’s stock, down from their prior price target of $57.00.

CSX has been the subject of several other research reports. Zacks Investment Research upgraded shares of CSX Corporation from a hold rating to a buy rating and set a $61.00 price objective for the company in a research report on Tuesday, July 11th. BMO Capital Markets reiterated a buy rating on shares of CSX Corporation in a research report on Wednesday, August 30th. Credit Suisse Group lowered their price target on shares of CSX Corporation from $61.00 to $60.00 and set an outperform rating for the company in a research report on Thursday. Royal Bank Of Canada lowered their price target on shares of CSX Corporation from $65.00 to $64.00 and set an outperform rating for the company in a research report on Thursday. Finally, BidaskClub cut shares of CSX Corporation from a hold rating to a sell rating in a research report on Saturday, August 19th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty have issued a buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $53.40.

Shares of CSX Corporation (CSX) opened at 51.14 on Thursday. CSX Corporation has a 52 week low of $27.91 and a 52 week high of $55.48. The stock has a 50 day moving average of $49.91 and a 200-day moving average of $50.53. The firm has a market capitalization of $46.71 billion, a price-to-earnings ratio of 26.75 and a beta of 1.30.

CSX Corporation (NASDAQ:CSX) last posted its quarterly earnings data on Tuesday, July 18th. The transportation company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.05. The firm had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.85 billion. CSX Corporation had a net margin of 15.46% and a return on equity of 16.93%. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.47 EPS. Analysts expect that CSX Corporation will post $2.27 earnings per share for the current year.

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The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date is Tuesday, August 29th. CSX Corporation’s payout ratio is currently 41.88%.

CSX Corporation announced that its Board of Directors has approved a share buyback program on Tuesday, July 18th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the transportation company to reacquire up to 1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

In other CSX Corporation news, Director Ridge Lp Mantle acquired 1,357,000 shares of the business’s stock in a transaction dated Friday, July 21st. The shares were acquired at an average price of $51.59 per share, with a total value of $70,007,630.00. Following the completion of the transaction, the director now directly owns 106 shares in the company, valued at approximately $5,468.54. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 4.79% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Gradient Investments LLC lifted its position in shares of CSX Corporation by 38.1% in the second quarter. Gradient Investments LLC now owns 1,954 shares of the transportation company’s stock worth $107,000 after purchasing an additional 539 shares in the last quarter. Reilly Financial Advisors LLC lifted its position in shares of CSX Corporation by 33.1% in the second quarter. Reilly Financial Advisors LLC now owns 2,012 shares of the transportation company’s stock worth $110,000 after purchasing an additional 500 shares in the last quarter. Assetmark Inc. lifted its position in shares of CSX Corporation by 8.7% in the first quarter. Assetmark Inc. now owns 2,186 shares of the transportation company’s stock worth $102,000 after purchasing an additional 175 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of CSX Corporation by 14.9% in the second quarter. Parallel Advisors LLC now owns 2,194 shares of the transportation company’s stock worth $108,000 after purchasing an additional 285 shares in the last quarter. Finally, LBA Wealth Management LLC lifted its position in shares of CSX Corporation by 323.1% in the first quarter. LBA Wealth Management LLC now owns 2,619 shares of the transportation company’s stock worth $122,000 after purchasing an additional 2,000 shares in the last quarter. 69.80% of the stock is currently owned by institutional investors and hedge funds.

CSX Corporation Company Profile

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.

Analyst Recommendations for CSX Corporation (NASDAQ:CSX)

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