CSX (NASDAQ:CSX) Sets New 1-Year High – Time to Buy?

Shares of CSX Corporation (NASDAQ:CSX) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $46.92 and last traded at $46.9180, with a volume of 357486 shares. The stock had previously closed at $46.61.

Wall Street Analysts Forecast Growth

CSX has been the topic of several research analyst reports. Barclays reaffirmed an “overweight” rating and issued a $47.00 price objective (up from $40.00) on shares of CSX in a research report on Thursday, April 23rd. TD Cowen boosted their target price on shares of CSX from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Rothschild & Co Redburn upped their price target on shares of CSX from $45.50 to $47.50 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Argus raised their price target on shares of CSX from $42.00 to $52.00 and gave the stock a “buy” rating in a research note on Friday, May 22nd. Finally, Jefferies Financial Group lifted their price objective on shares of CSX from $50.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Sixteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, CSX has a consensus rating of “Moderate Buy” and an average price target of $45.98.

CSX Trading Up 0.8%

The firm has a market capitalization of $87.32 billion, a P/E ratio of 28.81, a price-to-earnings-growth ratio of 2.36 and a beta of 1.24. The stock has a 50-day simple moving average of $43.00 and a two-hundred day simple moving average of $39.51. The company has a current ratio of 0.97, a quick ratio of 0.83 and a debt-to-equity ratio of 1.34.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Wednesday, April 22nd. The transportation company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04. The business had revenue of $3.48 billion for the quarter, compared to the consensus estimate of $3.50 billion. CSX had a return on equity of 24.47% and a net margin of 21.55%.The business’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.34 EPS. On average, equities research analysts anticipate that CSX Corporation will post 1.9 earnings per share for the current year.

CSX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, May 29th. CSX’s dividend payout ratio is presently 34.36%.

Insider Transactions at CSX

In other CSX news, CEO Stephen F. Angel bought 25,000 shares of the business’s stock in a transaction on Friday, March 6th. The shares were acquired at an average price of $40.27 per share, with a total value of $1,006,750.00. Following the transaction, the chief executive officer owned 146,540 shares of the company’s stock, valued at approximately $5,901,165.80. This trade represents a 20.57% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CSX

Hedge funds have recently modified their holdings of the business. Strengthening Families & Communities LLC bought a new position in CSX in the third quarter worth approximately $2,199,000. Rathbones Group PLC lifted its holdings in CSX by 20.6% during the third quarter. Rathbones Group PLC now owns 207,454 shares of the transportation company’s stock worth $7,367,000 after buying an additional 35,403 shares during the period. Canada Post Corp Registered Pension Plan boosted its position in CSX by 34.2% during the 4th quarter. Canada Post Corp Registered Pension Plan now owns 96,484 shares of the transportation company’s stock valued at $3,498,000 after acquiring an additional 24,566 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC boosted its position in CSX by 81.9% during the 3rd quarter. Cbre Investment Management Listed Real Assets LLC now owns 944,946 shares of the transportation company’s stock valued at $33,555,000 after acquiring an additional 425,395 shares in the last quarter. Finally, Reaves W H & Co. Inc. purchased a new position in shares of CSX in the 3rd quarter valued at $5,326,000. Hedge funds and other 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.