CSX (NASDAQ:CSX) Now Covered by Analysts at Citigroup

Citigroup initiated coverage on shares of CSX (NASDAQ:CSX) in a research report released on Wednesday, Marketbeat reports. The firm issued a buy rating and a $42.00 price target on the transportation company’s stock.

Several other research analysts have also issued reports on the stock. BMO Capital Markets reiterated an outperform rating and issued a $40.00 target price on shares of CSX in a research report on Tuesday, August 6th. JPMorgan Chase & Co. upped their price objective on CSX from $39.00 to $42.00 and gave the stock an overweight rating in a report on Tuesday, August 6th. Royal Bank of Canada reissued a sector perform rating and set a $36.00 price objective on shares of CSX in a report on Tuesday, August 6th. Sanford C. Bernstein boosted their target price on CSX from $35.00 to $36.00 and gave the stock a market perform rating in a research report on Monday, July 8th. Finally, Evercore ISI upgraded shares of CSX to a strong-buy rating in a research report on Tuesday, August 6th. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $39.19.

CSX Stock Up 1.2 %

CSX opened at $34.26 on Wednesday. The firm has a market capitalization of $66.98 billion, a P/E ratio of 18.82, a price-to-earnings-growth ratio of 1.91 and a beta of 1.19. CSX has a one year low of $29.03 and a one year high of $40.12. The company has a fifty day moving average price of $33.93 and a 200-day moving average price of $34.05. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.16 and a quick ratio of 1.01.

CSX (NASDAQ:CSX) last posted its earnings results on Monday, August 5th. The transportation company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.48 by $0.01. CSX had a return on equity of 29.11% and a net margin of 24.52%. The business had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.70 billion. During the same period in the previous year, the business earned $0.49 earnings per share. The firm’s revenue was up .0% on a year-over-year basis. Equities research analysts expect that CSX will post 1.93 earnings per share for the current fiscal year.

CSX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a dividend of $0.12 per share. The ex-dividend date is Friday, November 29th. This represents a $0.48 dividend on an annualized basis and a yield of 1.40%. CSX’s dividend payout ratio is presently 26.37%.

Institutional Investors Weigh In On CSX

Large investors have recently made changes to their positions in the business. Western Wealth Management LLC increased its position in shares of CSX by 0.8% during the second quarter. Western Wealth Management LLC now owns 36,127 shares of the transportation company’s stock valued at $1,208,000 after buying an additional 295 shares during the period. TriaGen Wealth Management LLC raised its position in shares of CSX by 2.7% in the 2nd quarter. TriaGen Wealth Management LLC now owns 11,524 shares of the transportation company’s stock worth $385,000 after acquiring an additional 300 shares in the last quarter. Miracle Mile Advisors LLC raised its position in shares of CSX by 0.3% in the 1st quarter. Miracle Mile Advisors LLC now owns 103,563 shares of the transportation company’s stock worth $3,839,000 after acquiring an additional 303 shares in the last quarter. Team Hewins LLC lifted its stake in shares of CSX by 1.7% in the 1st quarter. Team Hewins LLC now owns 18,778 shares of the transportation company’s stock valued at $696,000 after purchasing an additional 306 shares during the period. Finally, Zions Bancorporation N.A. boosted its position in shares of CSX by 4.8% during the second quarter. Zions Bancorporation N.A. now owns 6,985 shares of the transportation company’s stock valued at $234,000 after purchasing an additional 322 shares in the last quarter. 73.57% of the stock is currently owned by institutional investors.

CSX Company Profile

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It also transports chemicals, agricultural and food products, minerals, automotive, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities.