CSX (NASDAQ:CSX) Raised to Buy at Citigroup

Citigroup upgraded shares of CSX (NASDAQ:CSX – Get Rating) from a neutral rating to a buy rating in a research report report published on Monday morning, The Fly reports. The brokerage currently has $37.00 price objective on the transportation company’s stock, up from their previous price objective of $33.00.

Other equities research analysts have also recently issued research reports about the company. Morgan Stanley increased their price target on CSX from $24.00 to $26.00 and gave the company an equal weight rating in a research note on Friday, April 21st. Cowen increased their price target on CSX from $33.00 to $35.00 and gave the company a market perform rating in a research note on Thursday, January 26th. JPMorgan Chase & Co. increased their price target on CSX from $33.00 to $35.00 and gave the company a neutral rating in a research note on Friday, April 21st. Royal Bank of Canada lifted their target price on CSX from $32.00 to $33.00 and gave the stock an outperform rating in a report on Friday, April 21st. Finally, Stifel Nicolaus boosted their price target on CSX from $35.00 to $37.00 and gave the company a buy rating in a research note on Friday, April 21st. Ten investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $34.76.

CSX Price Performance

Shares of CSX opened at $30.92 on Monday. CSX has a 12-month low of $25.80 and a 12-month high of $34.71. The business has a 50-day simple moving average of $30.56 and a two-hundred day simple moving average of $31.02. The company has a quick ratio of 1.28, a current ratio of 1.45 and a debt-to-equity ratio of 1.45. The stock has a market cap of $62.86 billion, a PE ratio of 15.23, a PEG ratio of 2.23 and a beta of 1.23.

CSX (NASDAQ:CSX – Get Rating) last issued its quarterly earnings results on Thursday, April 20th. The transportation company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.05. The company had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $3.58 billion. CSX had a return on equity of 33.01% and a net margin of 28.35%. The business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.39 earnings per share. Analysts anticipate that CSX will post 1.94 earnings per share for the current fiscal year.

CSX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Wednesday, May 31st will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 1.42%. The ex-dividend date is Tuesday, May 30th. CSX’s dividend payout ratio is 21.67%.

Institutional Trading of CSX

Several hedge funds have recently added to or reduced their stakes in the stock. Bornite Capital Management LP purchased a new position in CSX in the 1st quarter worth approximately $14,980,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of CSX by 6.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,158,544 shares of the transportation company’s stock valued at $230,637,000 after purchasing an additional 347,514 shares in the last quarter. Blair William & Co. IL boosted its stake in shares of CSX by 12.7% in the 1st quarter. Blair William & Co. IL now owns 122,334 shares of the transportation company’s stock valued at $4,581,000 after purchasing an additional 13,829 shares in the last quarter. Sei Investments Co. boosted its stake in shares of CSX by 4.5% in the 1st quarter. Sei Investments Co. now owns 195,872 shares of the transportation company’s stock valued at $7,361,000 after purchasing an additional 8,488 shares in the last quarter. Finally, Cetera Investment Advisers boosted its stake in shares of CSX by 16.8% in the 1st quarter. Cetera Investment Advisers now owns 71,521 shares of the transportation company’s stock valued at $2,678,000 after purchasing an additional 10,276 shares in the last quarter. Institutional investors own 72.91% of the company’s stock.

CSX Company Profile

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CSX Corp. engages in the provision of rail-based freight transportation services. Its services include rail service, the transport of intermodal containers and trailers, rail-to-truck transfers and bulk commodity operations. The company was founded in 1827 and is headquartered in Jacksonville, FL.