CSX (NASDAQ:CSX) had its price objective boosted by analysts at Credit Suisse Group from $65.00 to $67.00 in a research note issued on Wednesday. The firm currently has an “outperform” rating on the transportation company’s stock. Credit Suisse Group’s target price would suggest a potential upside of 9.50% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Argus increased their price objective on shares of CSX from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, January 18th. Zacks Investment Research upgraded shares of CSX from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research report on Friday, January 19th. Citigroup reiterated a “buy” rating and set a $64.00 price objective on shares of CSX in a research report on Wednesday, January 17th. UBS decreased their price objective on shares of CSX from $74.00 to $72.00 and set a “buy” rating for the company in a research report on Wednesday, January 17th. Finally, BidaskClub upgraded shares of CSX from a “hold” rating to a “buy” rating in a research report on Wednesday, January 10th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eighteen have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $62.70.
Shares of NASDAQ CSX opened at $61.19 on Wednesday. The company has a quick ratio of 0.81, a current ratio of 1.87 and a debt-to-equity ratio of 0.96. CSX has a 52-week low of $47.99 and a 52-week high of $61.42. The company has a market capitalization of $53,598.62, a price-to-earnings ratio of 23.74, a price-to-earnings-growth ratio of 1.45 and a beta of 1.21.
CSX (NASDAQ:CSX) last posted its quarterly earnings data on Tuesday, April 17th. The transportation company reported $0.78 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.12. CSX had a net margin of 50.85% and a return on equity of 18.00%. The company had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.80 billion. During the same period in the prior year, the company posted $0.51 earnings per share. CSX’s revenue for the quarter was up .2% compared to the same quarter last year. research analysts expect that CSX will post 3.16 earnings per share for the current year.
CSX declared that its Board of Directors has initiated a stock buyback program on Monday, February 12th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the transportation company to purchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
Institutional investors have recently added to or reduced their stakes in the business. First Command Financial Services Inc. lifted its stake in shares of CSX by 130.0% in the fourth quarter. First Command Financial Services Inc. now owns 2,123 shares of the transportation company’s stock valued at $117,000 after buying an additional 1,200 shares in the last quarter. Prentiss Smith & Co. Inc. bought a new position in shares of CSX during the fourth quarter valued at about $119,000. Icon Wealth Partners LLC bought a new position in shares of CSX during the fourth quarter valued at about $126,000. Front Row Advisors LLC bought a new position in shares of CSX during the fourth quarter valued at about $135,000. Finally, Pinebridge Investments L.P. lifted its position in shares of CSX by 93.7% during the fourth quarter. Pinebridge Investments L.P. now owns 3,384 shares of the transportation company’s stock valued at $186,000 after purchasing an additional 1,637 shares in the last quarter. 76.51% of the stock is currently owned by hedge funds and other institutional investors.
CSX Company Profile
CSX Corporation, together with its subsidiaries, provides rail-based transportation services in the United States and Canada. The company offers rail services, as well as transports intermodal containers and trailers. It transports agricultural and food products, fertilizers, chemicals, automotive, metals and equipment, minerals, and forest products; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.
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