CSX Corporation (CSX) Upgraded to “Hold” at BidaskClub

BidaskClub upgraded shares of CSX Corporation (NASDAQ:CSX) from a sell rating to a hold rating in a research note released on Tuesday.

Several other equities research analysts have also weighed in on the stock. Zacks Investment Research upgraded shares of CSX Corporation from a hold rating to a buy rating and set a $61.00 target price on the stock in a report on Tuesday, July 11th. BMO Capital Markets reiterated a buy rating on shares of CSX Corporation in a report on Wednesday, August 30th. Credit Suisse Group cut their target price on shares of CSX Corporation from $61.00 to $60.00 and set an outperform rating on the stock in a report on Thursday, September 7th. Royal Bank Of Canada cut their target price on shares of CSX Corporation from $65.00 to $64.00 and set an outperform rating on the stock in a report on Thursday, September 7th. Finally, Cowen and Company reiterated a hold rating and issued a $54.00 target price on shares of CSX Corporation in a report on Friday, July 28th. Twelve equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $53.40.

CSX Corporation (CSX) opened at 51.92 on Tuesday. CSX Corporation has a 12-month low of $28.41 and a 12-month high of $55.48. The firm has a 50 day moving average price of $49.92 and a 200 day moving average price of $50.59. The company has a market cap of $47.42 billion, a PE ratio of 27.15 and a beta of 1.30.

CSX Corporation (NASDAQ:CSX) last announced its quarterly earnings data on Tuesday, July 18th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.05. CSX Corporation had a net margin of 15.46% and a return on equity of 16.93%. The firm had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.85 billion. During the same period last year, the firm earned $0.47 earnings per share. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, analysts anticipate that CSX Corporation will post $2.26 earnings per share for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend is Tuesday, August 29th. CSX Corporation’s dividend payout ratio (DPR) is presently 41.88%.

CSX Corporation declared that its Board of Directors has approved a share repurchase plan on Tuesday, July 18th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the transportation company to buy up to 1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

In related news, Director Ridge Lp Mantle bought 1,357,000 shares of CSX Corporation stock in a transaction that occurred on Friday, July 21st. The stock was acquired at an average price of $51.59 per share, with a total value of $70,007,630.00. Following the acquisition, the director now owns 106 shares of the company’s stock, valued at approximately $5,468.54. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 4.79% of the company’s stock.

Several hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of CSX Corporation by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 67,607,341 shares of the transportation company’s stock worth $3,147,122,000 after buying an additional 303,834 shares during the period. Janus Capital Management LLC boosted its holdings in shares of CSX Corporation by 32.9% during the 1st quarter. Janus Capital Management LLC now owns 16,620,538 shares of the transportation company’s stock worth $773,686,000 after buying an additional 4,114,395 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of CSX Corporation by 22.3% during the 1st quarter. Bank of New York Mellon Corp now owns 10,380,043 shares of the transportation company’s stock worth $483,191,000 after buying an additional 1,896,101 shares during the period. Geode Capital Management LLC boosted its holdings in shares of CSX Corporation by 7.6% during the 1st quarter. Geode Capital Management LLC now owns 9,175,880 shares of the transportation company’s stock worth $426,540,000 after buying an additional 648,154 shares during the period. Finally, Brahman Capital Corp. bought a new stake in shares of CSX Corporation during the 1st quarter worth about $257,229,000. 69.80% of the stock is owned by institutional investors and hedge funds.

About CSX Corporation

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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