Cowen and Company Reiterates Market Perform Rating for CSX Co. (CSX)
Cowen and Company reiterated their market perform rating on shares of CSX Co. (NASDAQ:CSX) in a report issued on Sunday morning. The brokerage currently has a $54.00 price target on the transportation company’s stock, up from their previous price target of $48.00.
A number of other research analysts also recently weighed in on CSX. Royal Bank of Canada reiterated a buy rating on shares of CSX in a report on Friday, January 6th. Zacks Investment Research raised CSX from a hold rating to a buy rating and set a $43.00 price target on the stock in a research report on Monday, January 16th. Morgan Stanley raised CSX from an underweight rating to an equal weight rating and boosted their price target for the stock from $24.00 to $37.00 in a research report on Thursday, January 19th. Scotiabank raised CSX from a sector perform rating to an outperform rating and boosted their price target for the stock from $39.00 to $43.00 in a research report on Thursday, January 19th. Finally, Citigroup Inc boosted their price target on CSX from $41.00 to $51.00 and gave the stock a buy rating in a research report on Thursday, January 19th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and nineteen have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $56.09.
Shares of CSX (NASDAQ:CSX) traded up 2.44% during midday trading on Friday, hitting $50.77. The stock had a trading volume of 16,235,464 shares. The firm’s 50-day moving average price is $47.43 and its 200-day moving average price is $40.49. CSX has a 1-year low of $24.43 and a 1-year high of $51.28. The stock has a market cap of $46.84 billion, a price-to-earnings ratio of 27.71 and a beta of 1.19.
CSX (NASDAQ:CSX) last posted its earnings results on Wednesday, April 19th. The transportation company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.08. CSX had a return on equity of 14.71% and a net margin of 15.48%. The firm had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.76 billion. During the same quarter in the prior year, the business earned $0.37 EPS. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. Analysts forecast that CSX will post $2.16 earnings per share for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Wednesday, May 31st will be paid a dividend of $0.20 per share. The ex-dividend date is Friday, May 26th. This is a positive change from CSX’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a yield of 1.58%. CSX’s payout ratio is currently 39.78%.
A number of large investors have recently made changes to their positions in CSX. Parallel Advisors LLC bought a new stake in CSX during the fourth quarter valued at approximately $114,000. Brick & Kyle Associates raised its stake in CSX by 12.5% in the third quarter. Brick & Kyle Associates now owns 4,500 shares of the transportation company’s stock valued at $137,000 after buying an additional 500 shares during the period. Hefty Wealth Partners bought a new stake in CSX during the first quarter valued at approximately $146,000. Pinnacle Bank bought a new stake in CSX during the first quarter valued at approximately $156,000. Finally, Peoples Financial Services CORP. raised its stake in CSX by 72.3% in the first quarter. Peoples Financial Services CORP. now owns 3,575 shares of the transportation company’s stock valued at $166,000 after buying an additional 1,500 shares during the period. Institutional investors and hedge funds own 69.47% of the company’s stock.
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.
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