CSX Co. (NASDAQ:CSX) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of CSX Co. (NASDAQ:CSX) have been given an average recommendation of “Moderate Buy” by the sixteen analysts that are currently covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $38.80.

Several brokerages have commented on CSX. BMO Capital Markets restated an “outperform” rating and issued a $40.00 price objective on shares of CSX in a report on Tuesday, August 6th. Benchmark restated a “buy” rating and issued a $40.00 price objective on shares of CSX in a report on Wednesday, August 7th. Bank of America lowered shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a report on Monday, July 8th. Stephens restated an “overweight” rating and issued a $42.00 price objective on shares of CSX in a report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. lifted their target price on shares of CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th.

Hedge Funds Weigh In On CSX

Hedge funds have recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. bought a new stake in CSX in the 2nd quarter worth approximately $26,000. Financial Synergies Wealth Advisors Inc. bought a new stake in CSX in the 1st quarter worth approximately $29,000. MFA Wealth Advisors LLC bought a new stake in CSX in the 2nd quarter worth approximately $27,000. Fairscale Capital LLC bought a new stake in CSX in the 2nd quarter worth approximately $32,000. Finally, Valued Wealth Advisors LLC grew its position in CSX by 172.7% in the 1st quarter. Valued Wealth Advisors LLC now owns 938 shares of the transportation company’s stock worth $35,000 after purchasing an additional 594 shares during the period. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

CSX Stock Up 0.9 %

NASDAQ CSX opened at $33.81 on Tuesday. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.16 and a quick ratio of 1.01. The stock has a market capitalization of $66.10 billion, a PE ratio of 18.58, a PEG ratio of 1.77 and a beta of 1.19. CSX has a 1 year low of $29.03 and a 1 year high of $40.12. The business’s 50-day moving average is $33.92 and its 200 day moving average is $34.45.

CSX (NASDAQ:CSX) last posted its earnings results on Monday, August 5th. The transportation company reported $0.49 earnings per share (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 company had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.70 billion. During the same period last year, the firm earned $0.49 earnings per share. CSX’s quarterly revenue was up .0% on a year-over-year basis. Sell-side analysts forecast that CSX will post 1.93 earnings per share for the current year.

CSX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a $0.12 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.48 dividend on an annualized basis and a yield of 1.42%. CSX’s payout ratio is currently 26.37%.

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.