CSX Corporation (CSX) Given Buy Rating at BMO Capital Markets

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.

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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.

Analyst Recommendations for CSX Corporation (NASDAQ:CSX)

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