CSX Co. (CSX) Receives Consensus Rating of “Buy” from Brokerages

Shares of CSX Co. (NASDAQ:CSX) have received an average rating of “Buy” from the twenty-seven brokerages that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have assigned a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $60.34.

CSX has been the topic of several research analyst reports. Scotiabank cut CSX from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from $63.00 to $43.00 in a research report on Friday, January 12th. BidaskClub raised CSX from a “hold” rating to a “buy” rating in a research report on Wednesday, January 10th. Zacks Investment Research raised CSX from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a research report on Friday, January 19th. Royal Bank of Canada boosted their price objective on CSX from $59.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 9th. They noted that the move was a valuation call. Finally, Citigroup reissued a “buy” rating and issued a $64.00 price objective on shares of CSX in a research report on Wednesday, January 17th.

In related news, Director Gary Keith Anderson acquired 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 24th. The shares were bought at an average cost of $2,300.00 per share, for a total transaction of $11,500,000.00. Insiders own 4.79% of the company’s stock.

Several large investors have recently added to or reduced their stakes in CSX. Millennium Management LLC raised its stake in shares of CSX by 615.0% during the 4th quarter. Millennium Management LLC now owns 2,301,149 shares of the transportation company’s stock valued at $126,586,000 after purchasing an additional 1,979,295 shares during the period. Chilton Investment Co. LLC bought a new stake in shares of CSX during the 4th quarter valued at $83,179,000. Sirios Capital Management L P raised its stake in shares of CSX by 265.0% during the 4th quarter. Sirios Capital Management L P now owns 1,882,529 shares of the transportation company’s stock valued at $103,558,000 after purchasing an additional 1,366,709 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of CSX by 188.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,582,029 shares of the transportation company’s stock valued at $87,027,000 after purchasing an additional 1,034,029 shares during the period. Finally, Element Capital Management LLC bought a new stake in shares of CSX during the 4th quarter valued at $45,241,000. Institutional investors own 69.50% of the company’s stock.

CSX (CSX) opened at $54.59 on Wednesday. The stock has a market capitalization of $48,430.00, a P/E ratio of 25.39, a P/E/G ratio of 1.36 and a beta of 1.26. The company has a current ratio of 1.01, a quick ratio of 0.81 and a debt-to-equity ratio of 0.80. CSX has a 1 year low of $45.41 and a 1 year high of $60.04.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Tuesday, January 16th. The transportation company reported $0.64 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.08. CSX had a return on equity of 17.16% and a net margin of 47.96%. The business had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.89 billion. During the same quarter in the previous year, the firm earned $0.49 earnings per share. The business’s revenue was down 5.7% on a year-over-year basis. research analysts forecast that CSX will post 3.1 EPS for the current year.

CSX announced that its Board of Directors has initiated a stock buyback plan on Wednesday, October 25th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the transportation company to purchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st will be paid a $0.22 dividend. The ex-dividend date is Wednesday, February 28th. This is a positive change from CSX’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a dividend yield of 1.61%. CSX’s payout ratio is presently 37.21%.

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CSX 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 (NASDAQ:CSX)

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