CSX Corporation (CSX) Cut to Hold at ValuEngine
ValuEngine downgraded shares of CSX Corporation (NASDAQ:CSX) from a buy rating to a hold rating in a research note released on Monday morning.
A number of other equities analysts have also recently commented on CSX. BidaskClub raised shares of CSX Corporation from a buy rating to a strong-buy rating in a research note on Thursday, July 6th. Credit Suisse Group reaffirmed a buy rating and set a $65.00 price target on shares of CSX Corporation in a research note on Friday, July 14th. Zacks Investment Research raised shares of CSX Corporation from a hold rating to a buy rating and set a $61.00 price target for the company in a research note on Tuesday, July 11th. Morgan Stanley cut shares of CSX Corporation from an equal weight rating to an underweight rating and dropped their price target for the stock from $44.00 to $43.00 in a research note on Monday. Finally, Royal Bank Of Canada reaffirmed a buy rating and set a $65.00 price target on shares of CSX Corporation in a research note on Wednesday, July 12th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eighteen have assigned a buy rating to the company. The stock has a consensus rating of Buy and an average target price of $54.09.
CSX Corporation (NASDAQ:CSX) traded up 0.14% during mid-day trading on Monday, hitting $51.89. 1,013,722 shares of the stock were exchanged. CSX Corporation has a 52 week low of $30.01 and a 52 week high of $55.48. The firm has a market capitalization of $47.39 billion, a price-to-earnings ratio of 27.14 and a beta of 1.35. The company’s 50-day moving average price is $51.22 and its 200 day moving average price is $51.11.
CSX Corporation (NASDAQ:CSX) last posted its earnings results on Tuesday, July 18th. The transportation company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.05. CSX Corporation had a net margin of 15.46% and a return on equity of 16.93%. The firm had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.85 billion. During the same period in the previous year, the firm posted $0.47 EPS. The business’s quarterly revenue was up 8.5% on a year-over-year basis. Equities research analysts expect that CSX Corporation will post $2.22 EPS for the current year.
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The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, August 31st were given a $0.20 dividend. The ex-dividend date was Tuesday, August 29th. This represents a $0.80 annualized dividend and a yield of 1.54%. CSX Corporation’s dividend payout ratio (DPR) is 41.88%.
CSX Corporation announced that its board has initiated a stock repurchase plan on Tuesday, July 18th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the transportation company to repurchase up to 1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
In related news, Director Ridge Lp Mantle acquired 1,357,000 shares of the stock in a transaction on Friday, July 21st. The stock was bought at an average cost of $51.59 per share, with a total value of $70,007,630.00. Following the transaction, the director now directly owns 106 shares in the company, valued at $5,468.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.79% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the company. United Services Automobile Association raised its holdings in shares of CSX Corporation by 20.9% in the 1st quarter. United Services Automobile Association now owns 573,690 shares of the transportation company’s stock valued at $26,705,000 after purchasing an additional 99,118 shares in the last quarter. ClariVest Asset Management LLC bought a new stake in shares of CSX Corporation in the 1st quarter valued at about $13,531,000. Westwood Holdings Group Inc. raised its holdings in shares of CSX Corporation by 0.7% in the 1st quarter. Westwood Holdings Group Inc. now owns 7,549 shares of the transportation company’s stock valued at $351,000 after purchasing an additional 49 shares in the last quarter. Stratos Wealth Partners LTD. raised its holdings in shares of CSX Corporation by 10.6% in the 1st quarter. Stratos Wealth Partners LTD. now owns 13,720 shares of the transportation company’s stock valued at $639,000 after purchasing an additional 1,316 shares in the last quarter. Finally, TIAA CREF Investment Management LLC raised its holdings in shares of CSX Corporation by 31.1% in the 1st quarter. TIAA CREF Investment Management LLC now owns 4,861,202 shares of the transportation company’s stock valued at $226,289,000 after purchasing an additional 1,152,841 shares in the last quarter. Institutional investors and hedge funds own 69.83% of the company’s stock.
About CSX Corporation
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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