CSX (CSX) Rating Reiterated by Royal Bank of Canada

CSX (NASDAQ:CSX)‘s stock had its “outperform” rating restated by equities researchers at Royal Bank of Canada in a research report issued to clients and investors on Wednesday, The Fly reports.

Other equities research analysts also recently issued reports about the company. TD Securities increased their price objective on CSX from $68.00 to $71.00 and gave the company a “$69.00” rating in a report on Wednesday, July 18th. Raymond James increased their price objective on CSX from $70.00 to $75.00 and gave the company a “$69.00” rating in a report on Wednesday, July 18th. Cowen reissued a “$69.00” rating and issued a $74.00 price objective on shares of CSX in a report on Wednesday, July 18th. BidaskClub raised CSX from a “hold” rating to a “buy” rating in a report on Wednesday, July 4th. Finally, ValuEngine raised CSX from a “hold” rating to a “buy” rating in a report on Monday, July 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $77.55.

Shares of CSX stock traded down $0.10 during trading hours on Wednesday, hitting $68.55. The stock had a trading volume of 421,771 shares, compared to its average volume of 6,466,024. The company has a market capitalization of $60.73 billion, a P/E ratio of 30.03, a PEG ratio of 1.41 and a beta of 1.24. CSX has a twelve month low of $48.26 and a twelve month high of $76.24. The company has a current ratio of 1.43, a quick ratio of 1.48 and a debt-to-equity ratio of 1.00.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Tuesday, October 16th. The transportation company reported $1.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.11. The business had revenue of $3.13 billion during the quarter, compared to the consensus estimate of $3.05 billion. CSX had a return on equity of 21.38% and a net margin of 55.19%. The company’s revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.51 earnings per share. Research analysts predict that CSX will post 3.76 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in CSX. Acropolis Investment Management LLC acquired a new stake in shares of CSX during the third quarter valued at $107,000. IMS Capital Management acquired a new stake in shares of CSX during the second quarter valued at $124,000. Strategic Wealth Partners Ltd. acquired a new stake in shares of CSX during the second quarter valued at $128,000. Kaizen Advisory LLC boosted its stake in shares of CSX by 150.5% during the second quarter. Kaizen Advisory LLC now owns 2,164 shares of the transportation company’s stock valued at $138,000 after acquiring an additional 1,300 shares during the last quarter. Finally, Sun Life Financial INC boosted its stake in shares of CSX by 950.0% during the second quarter. Sun Life Financial INC now owns 2,373 shares of the transportation company’s stock valued at $151,000 after acquiring an additional 2,147 shares during the last quarter. Institutional investors and hedge funds own 74.82% of the company’s stock.

CSX Company Profile

CSX Corporation, together with its subsidiaries, provides rail-based transportation services in the United States and Canada. The company offers rail services, as well as transports intermodal containers and trailers. It transports agricultural and food products, fertilizers, chemicals, automotive, metals and equipment, minerals, and forest products; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.

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