CSX (NASDAQ:CSX) PT Raised to $84.00

CSX (NASDAQ:CSX) had its target price hoisted by Raymond James from $81.00 to $84.00 in a research report report published on Wednesday, April 17th, BenzingaRatingsTable reports. They currently have an outperform rating on the transportation company’s stock.

Other equities research analysts have also issued reports about the company. BMO Capital Markets raised their price objective on CSX from $76.00 to $78.00 and gave the stock a market perform rating in a research report on Wednesday, April 17th. They noted that the move was a valuation call. Citigroup raised their price objective on CSX from $79.00 to $86.00 and gave the stock a buy rating in a research report on Thursday, April 4th. Stifel Nicolaus lowered CSX from a buy rating to a hold rating and set a $74.00 price objective for the company. in a research report on Wednesday, March 6th. Credit Suisse Group reduced their price target on CSX from $86.00 to $79.00 and set an outperform rating for the company in a report on Monday, January 7th. Finally, ValuEngine upgraded CSX from a hold rating to a buy rating in a report on Monday, February 4th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have issued a buy rating to the company’s stock. CSX currently has an average rating of Hold and an average target price of $78.55.

CSX traded up $0.52 during trading on Wednesday, reaching $78.69. The company had a trading volume of 2,989,924 shares, compared to its average volume of 3,577,034. The stock has a market capitalization of $63.25 billion, a P/E ratio of 20.49, a P/E/G ratio of 1.34 and a beta of 1.29. CSX has a 12-month low of $58.47 and a 12-month high of $80.73. The company has a current ratio of 1.81, a quick ratio of 1.68 and a debt-to-equity ratio of 1.27.

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

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be issued a $0.24 dividend. The ex-dividend date is Thursday, May 30th. This represents a $0.96 annualized dividend and a yield of 1.22%. CSX’s dividend payout ratio (DPR) is currently 25.00%.

CSX declared that its Board of Directors has approved a stock buyback program on Wednesday, January 16th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the transportation company to repurchase up to 9.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

In other CSX news, VP Angela C. Williams sold 9,560 shares of CSX stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $79.14, for a total value of $756,578.40. Following the transaction, the vice president now directly owns 14,607 shares of the company’s stock, valued at approximately $1,155,997.98. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 4.83% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of CSX. BlackRock Inc. grew its position in CSX by 2.3% in the fourth quarter. BlackRock Inc. now owns 49,404,831 shares of the transportation company’s stock valued at $3,069,519,000 after acquiring an additional 1,127,467 shares during the period. FMR LLC grew its position in CSX by 14.1% in the fourth quarter. FMR LLC now owns 23,161,058 shares of the transportation company’s stock valued at $1,438,997,000 after acquiring an additional 2,867,186 shares during the period. Janus Henderson Group PLC grew its position in CSX by 0.5% in the first quarter. Janus Henderson Group PLC now owns 12,929,434 shares of the transportation company’s stock valued at $967,382,000 after acquiring an additional 60,234 shares during the period. Egerton Capital UK LLP grew its position in CSX by 2.5% in the first quarter. Egerton Capital UK LLP now owns 12,140,980 shares of the transportation company’s stock valued at $908,388,000 after acquiring an additional 290,774 shares during the period. Finally, Oregon Public Employees Retirement Fund grew its position in CSX by 11,871.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 11,486,719 shares of the transportation company’s stock valued at $185,000 after acquiring an additional 11,390,771 shares during the period. 77.61% of the stock is currently 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.

Recommended Story: How Investors Use a Balance Sheet

Analyst Recommendations for CSX (NASDAQ:CSX)

Receive News & Ratings for CSX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CSX and related companies with MarketBeat.com's FREE daily email newsletter.