Susquehanna Bancshares Reiterates Neutral Rating for CSX (NASDAQ:CSX)

Susquehanna Bancshares reiterated their neutral rating on shares of CSX (NASDAQ:CSX) in a research note published on Wednesday, April 3rd, BenzingaRatingsTable reports.

Several other brokerages also recently issued reports on CSX. Zacks Investment Research upgraded shares of CSX from a hold rating to a buy rating and set a $82.00 price objective on the stock in a research note on Wednesday, February 27th. Royal Bank of Canada downgraded shares of CSX from an outperform rating to a sector perform rating and set a $78.00 price target on the stock. in a research note on Tuesday, February 19th. Stifel Nicolaus downgraded shares of CSX from a buy rating to a hold rating and set a $74.00 price target on the stock. in a research note on Wednesday, March 6th. ValuEngine downgraded shares of CSX from a buy rating to a hold rating in a research note on Friday, March 1st. Finally, BidaskClub upgraded shares of CSX from a buy rating to a strong-buy rating in a research note on Thursday, February 14th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $78.55.

CSX traded up $0.63 during midday trading on Wednesday, hitting $79.17. 1,916,895 shares of the company’s stock traded hands, compared to its average volume of 4,927,561. CSX has a one year low of $57.97 and a one year high of $80.51. The firm has a market cap of $63.94 billion, a PE ratio of 20.62, a PEG ratio of 1.35 and a beta of 1.29. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.68 and a current ratio of 1.81.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Tuesday, April 16th. The transportation company reported $1.02 EPS for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.11. The company had revenue of $3.01 billion for the quarter, compared to analyst estimates of $3 billion. CSX had a net margin of 27.84% and a return on equity of 26.13%. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.78 earnings per share. On average, sell-side analysts anticipate that CSX will post 4.34 earnings per share for the current fiscal year.

CSX declared that its Board of Directors has initiated a share buyback plan on Wednesday, January 16th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the transportation company to repurchase up to 9.1% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

In other CSX news, VP Angela C. Williams sold 9,560 shares of CSX stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $79.14, for a total transaction of $756,578.40. Following the completion of the transaction, the vice president now directly owns 14,607 shares of the company’s stock, valued at $1,155,997.98. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.83% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of CSX. Highwater Wealth Management LLC bought a new position in shares of CSX in the fourth quarter valued at about $31,000. Virtus ETF Advisers LLC raised its holdings in shares of CSX by 117.1% in the fourth quarter. Virtus ETF Advisers LLC now owns 445 shares of the transportation company’s stock valued at $28,000 after buying an additional 240 shares during the last quarter. Larson Financial Group LLC bought a new position in shares of CSX in the fourth quarter valued at about $28,000. Liberty Wealth Management LLC bought a new position in shares of CSX in the fourth quarter valued at about $28,000. Finally, Karp Capital Management Corp bought a new position in shares of CSX in the fourth quarter valued at about $30,000. 77.36% of the stock is owned by institutional investors.

About CSX

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services, as well as transports intermodal containers and trailers. It transports chemicals, automotive, agricultural and food products, minerals, fertilizers, forest products, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.

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Analyst Recommendations for CSX (NASDAQ:CSX)

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