A number of other analysts also recently weighed in on CSX. Cascend Securities downgraded shares of CSX from a buy rating to a hold rating in a report on Wednesday, July 17th. Cowen restated a market perform rating and issued a $78.00 price objective (down previously from $80.00) on shares of CSX in a research note on Wednesday, July 17th. Loop Capital cut shares of CSX from a buy rating to a hold rating and dropped their price objective for the company from $85.00 to $81.00 in a research note on Wednesday, July 10th. Zacks Investment Research cut shares of CSX from a hold rating to a sell rating and set a $83.00 price objective for the company. in a research note on Monday, July 8th. Finally, Goldman Sachs Group began coverage on shares of CSX in a research note on Wednesday, July 10th. They issued a neutral rating and a $86.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and seven have issued a buy rating to the company. CSX presently has a consensus rating of Hold and an average target price of $78.13.
CSX stock traded up $0.92 during mid-day trading on Thursday, reaching $72.47. The company had a trading volume of 5,506,692 shares, compared to its average volume of 4,896,294. The company has a quick ratio of 1.44, a current ratio of 1.55 and a debt-to-equity ratio of 1.26. CSX has a 52 week low of $58.47 and a 52 week high of $80.73. The company has a 50 day moving average of $66.93 and a 200-day moving average of $73.76. The firm has a market cap of $57.92 billion, a price-to-earnings ratio of 18.87, a PEG ratio of 1.32 and a beta of 1.23.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date is Thursday, August 29th. CSX’s dividend payout ratio (DPR) is currently 25.00%.
Several institutional investors have recently made changes to their positions in the stock. Krane Funds Advisors LLC acquired a new stake in CSX in the 2nd quarter valued at about $25,000. SRS Capital Advisors Inc. bought a new position in shares of CSX in the 2nd quarter valued at about $32,000. IMA Wealth Inc. bought a new position in shares of CSX in the 1st quarter valued at about $35,000. Kavar Capital Partners LLC bought a new position in shares of CSX in the 2nd quarter valued at about $35,000. Finally, FNY Investment Advisers LLC bought a new position in shares of CSX in the 2nd quarter valued at about $36,000. Institutional investors and hedge funds own 75.75% of the company’s stock.
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.
Further Reading: What is the price-to-earnings growth (PEG) ratio?
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