BMO Capital Markets reaffirmed their buy rating on shares of CSX Corporation (NASDAQ:CSX) in a report released on Wednesday morning.
CSX has been the topic of a number of other research reports. Zacks Investment Research raised shares of CSX Corporation from a hold rating to a buy rating and set a $61.00 target price on the stock in a research note on Tuesday, July 11th. Credit Suisse Group reaffirmed a buy rating and set a $65.00 target price on shares of CSX Corporation in a research note on Friday, July 14th. Cowen and Company reaffirmed a hold rating and set a $54.00 target price on shares of CSX Corporation in a research note on Friday, July 28th. BidaskClub lowered shares of CSX Corporation from a hold rating to a sell rating in a research note on Saturday, August 19th. Finally, Deutsche Bank AG reaffirmed a buy rating on shares of CSX Corporation in a research note on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty have issued a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $53.71.
CSX Corporation (NASDAQ CSX) opened at 49.78 on Wednesday. CSX Corporation has a 52-week low of $27.89 and a 52-week high of $55.48. The company has a market cap of $45.46 billion, a PE ratio of 26.04 and a beta of 1.30. The stock’s 50 day moving average is $50.34 and its 200-day moving average is $50.46.
CSX Corporation (NASDAQ:CSX) last announced its earnings results on Tuesday, July 18th. The transportation company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.05. The firm had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.85 billion. CSX Corporation had a net margin of 15.46% and a return on equity of 16.93%. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.47 EPS. Equities research analysts predict that CSX Corporation will post $2.30 EPS for the current fiscal year.
WARNING: This piece of content was reported by BBNS and is owned by of BBNS. If you are viewing this piece of content on another site, it was illegally copied and reposted in violation of US and international copyright & trademark law. The legal version of this piece of content can be read at https://baseballnewssource.com/markets/csx-corporation-csx-given-buy-rating-at-bmo-capital-markets/1569471.html.
CSX Corporation declared that its board has authorized a stock repurchase plan on Tuesday, July 18th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the transportation company to repurchase up to 1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $0.80 annualized dividend and a dividend yield of 1.61%. CSX Corporation’s payout ratio is 41.88%.
In related news, Director Ridge Lp Mantle acquired 1,357,000 shares of the firm’s stock in a transaction dated Friday, July 21st. The stock was purchased at an average cost of $51.59 per share, with a total value of $70,007,630.00. Following the completion of the acquisition, the director now directly owns 106 shares of the company’s stock, valued at $5,468.54. The acquisition 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.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Lord Abbett & CO. LLC boosted its stake in shares of CSX Corporation by 29.5% in the second quarter. Lord Abbett & CO. LLC now owns 2,479,799 shares of the transportation company’s stock worth $135,298,000 after buying an additional 565,529 shares in the last quarter. Advisory Services Network LLC boosted its stake in shares of CSX Corporation by 2.6% in the second quarter. Advisory Services Network LLC now owns 21,741 shares of the transportation company’s stock worth $1,186,000 after buying an additional 557 shares in the last quarter. Piedmont Investment Advisors LLC boosted its stake in shares of CSX Corporation by 12.9% in the second quarter. Piedmont Investment Advisors LLC now owns 228,522 shares of the transportation company’s stock worth $12,468,000 after buying an additional 26,057 shares in the last quarter. Laurel Wealth Advisors Inc. acquired a new stake in shares of CSX Corporation during the second quarter worth approximately $226,000. Finally, Cbre Clarion Securities LLC boosted its stake in shares of CSX Corporation by 1.7% in the second quarter. Cbre Clarion Securities LLC now owns 23,500 shares of the transportation company’s stock worth $1,282,000 after buying an additional 400 shares in the last quarter. 69.78% of the stock is owned by hedge funds and other institutional investors.
CSX Corporation 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.
Receive News & Ratings for CSX Corporation Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for CSX Corporation and related companies with our FREE daily email newsletter.