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

Shares of CSX Co. (NASDAQ:CSX) have earned a consensus recommendation of “Moderate Buy” from the fourteen research firms that are currently covering the stock, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $38.14.

Several research analysts have commented on CSX shares. Benchmark reaffirmed a “buy” rating and set a $40.00 price target on shares of CSX in a research report on Thursday, April 18th. Jefferies Financial Group cut their price target on CSX from $40.00 to $38.00 and set a “hold” rating on the stock in a research report on Thursday, April 18th. Sanford C. Bernstein lifted their price target on CSX from $35.00 to $36.00 and gave the stock a “market perform” rating in a research report on Monday, July 8th. Bank of America lowered CSX from a “buy” rating to a “neutral” rating and set a $37.00 price target on the stock. in a research report on Monday, July 8th. Finally, Wells Fargo & Company started coverage on CSX in a research note on Friday, June 7th. They issued an “equal weight” rating and a $35.00 target price on the stock.

Institutional Trading of CSX

A number of institutional investors have recently modified their holdings of the business. Norges Bank purchased a new stake in CSX during the fourth quarter worth $757,276,000. Price T Rowe Associates Inc. MD raised its holdings in shares of CSX by 18.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 64,807,961 shares of the transportation company’s stock worth $2,246,893,000 after acquiring an additional 9,914,656 shares during the last quarter. Capital International Investors raised its holdings in shares of CSX by 14.3% in the fourth quarter. Capital International Investors now owns 40,353,078 shares of the transportation company’s stock worth $1,399,104,000 after acquiring an additional 5,041,679 shares during the last quarter. Manning & Napier Advisors LLC acquired a new position in shares of CSX in the second quarter worth $116,430,000. Finally, M&G Plc acquired a new position in shares of CSX in the first quarter worth $126,089,000. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

CSX Trading Down 2.0 %

CSX opened at $34.08 on Monday. The firm has a market cap of $66.62 billion, a price-to-earnings ratio of 18.73, a price-to-earnings-growth ratio of 1.89 and a beta of 1.20. CSX has a 52 week low of $29.03 and a 52 week high of $40.12. The business’s 50 day moving average is $33.56 and its two-hundred day moving average is $35.05. The company has a quick ratio of 1.00, a current ratio of 1.15 and a debt-to-equity ratio of 1.42.

CSX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be paid a $0.12 dividend. The ex-dividend date is Friday, August 30th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.41%. CSX’s dividend payout ratio (DPR) is presently 26.37%.

About CSX

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.