CSX Co. (NASDAQ:CSX) shares hit a new 52-week high and low during trading on Thursday . The company traded as low as $64.07 and last traded at $63.63, with a volume of 184434 shares trading hands. The stock had previously closed at $63.21.
A number of brokerages recently commented on CSX. BidaskClub raised CSX from a “hold” rating to a “buy” rating in a report on Friday, March 23rd. Morgan Stanley set a $51.00 price target on CSX and gave the company a “sell” rating in a report on Wednesday, January 17th. Credit Suisse Group increased their price target on CSX from $65.00 to $67.00 and gave the company an “outperform” rating in a report on Wednesday, April 18th. Deutsche Bank set a $70.00 price target on CSX and gave the company a “buy” rating in a report on Sunday, March 4th. Finally, Argus increased their price target on CSX from $64.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, January 18th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the company’s stock. CSX currently has an average rating of “Buy” and a consensus target price of $64.19.
The company has a market cap of $54.81 billion, a PE ratio of 27.62, a P/E/G ratio of 1.45 and a beta of 1.20. The company has a quick ratio of 1.68, a current ratio of 1.87 and a debt-to-equity ratio of 0.96.
CSX (NASDAQ:CSX) last announced its quarterly earnings data on Tuesday, April 17th. The transportation company reported $0.78 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.12. CSX had a return on equity of 18.00% and a net margin of 50.85%. The firm had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.80 billion. During the same quarter in the prior year, the firm posted $0.51 earnings per share. CSX’s revenue for the quarter was up .2% compared to the same quarter last year. research analysts forecast that CSX Co. will post 3.24 earnings per share for the current fiscal year.
CSX announced that its Board of Directors has initiated a stock buyback plan on Monday, February 12th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the transportation company to buy shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
In other news, CEO James M. Foote acquired 5,000 shares of the business’s stock in a transaction on Wednesday, May 2nd. The shares were purchased at an average price of $59.91 per share, for a total transaction of $299,550.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 5.03% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Neuberger Berman Group LLC raised its position in shares of CSX by 7.3% during the 1st quarter. Neuberger Berman Group LLC now owns 11,455,907 shares of the transportation company’s stock worth $638,209,000 after purchasing an additional 783,705 shares during the period. Bank of New York Mellon Corp raised its position in shares of CSX by 0.6% during the 4th quarter. Bank of New York Mellon Corp now owns 9,771,161 shares of the transportation company’s stock worth $537,511,000 after purchasing an additional 60,453 shares during the period. CI Global Investments Inc. raised its position in shares of CSX by 254.1% during the 1st quarter. CI Global Investments Inc. now owns 6,305,842 shares of the transportation company’s stock worth $351,298,000 after purchasing an additional 4,524,823 shares during the period. Eaton Vance Management raised its position in shares of CSX by 3.6% during the 1st quarter. Eaton Vance Management now owns 5,298,524 shares of the transportation company’s stock worth $295,180,000 after purchasing an additional 185,534 shares during the period. Finally, Alleghany Corp DE raised its position in shares of CSX by 20.9% during the 1st quarter. Alleghany Corp DE now owns 5,180,000 shares of the transportation company’s stock worth $288,577,000 after purchasing an additional 895,000 shares during the period. Institutional investors and hedge funds own 76.47% of the company’s stock.
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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