CSX (CSX) Given “Market Perform” Rating at Cowen

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Cowen reiterated their market perform rating on shares of CSX (NASDAQ:CSX) in a research note issued to investors on Thursday morning, MarketBeat.com reports. They currently have a $74.00 target price on the transportation company’s stock, down from their prior target price of $77.00.

“. We maintain our Overweight rating on WNS and our PT of $56*. WNS reported strong 3QFY19 bottom line results and solid constant currency (cc) growth. FY19 EPS guidance was raised. Growth was impacted by a currency headwind but margins were strong. We look to the conference call to provide details on the impact of FX, recent client wins and margin outlook.”,” the firm’s analyst commented.

Other equities analysts have also issued research reports about the stock. Deutsche Bank boosted their target price on shares of CSX from $83.00 to $84.00 and gave the stock a buy rating in a research report on Thursday, September 27th. Argus lowered their target price on shares of CSX from $84.00 to $71.00 and set a buy rating on the stock in a report on Monday, December 31st. Morgan Stanley set a $55.00 target price on shares of CSX and gave the stock a sell rating in a report on Monday, October 22nd. TD Securities upped their target price on shares of CSX from $76.00 to $80.00 and gave the stock a hold rating in a report on Wednesday, October 17th. Finally, BidaskClub lowered shares of CSX from a buy rating to a hold rating in a report on Friday, October 19th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $75.88.

NASDAQ CSX traded up $2.27 during trading on Thursday, reaching $67.36. The company’s stock had a trading volume of 7,687,144 shares, compared to its average volume of 5,956,271. The company has a quick ratio of 1.29, a current ratio of 1.43 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $55.21 billion, a PE ratio of 17.54, a price-to-earnings-growth ratio of 1.17 and a beta of 1.33. CSX has a 1-year low of $48.43 and a 1-year high of $76.24.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Wednesday, January 16th. The transportation company reported $1.01 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.01. CSX had a net margin of 27.01% and a return on equity of 23.55%. The business had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $3.12 billion. During the same period in the previous year, the company earned $0.64 earnings per share. CSX’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, equities analysts anticipate that CSX will post 4.2 EPS for the current year.

CSX declared that its board has initiated a share repurchase plan on Wednesday, January 16th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the transportation company to repurchase up to 9.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

A number of institutional investors have recently added to or reduced their stakes in the business. Capital World Investors increased its stake in shares of CSX by 1,080.6% in the 3rd quarter. Capital World Investors now owns 29,751,204 shares of the transportation company’s stock valued at $2,203,077,000 after acquiring an additional 27,231,204 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of CSX by 33.7% in the 3rd quarter. Janus Henderson Group PLC now owns 12,600,194 shares of the transportation company’s stock valued at $933,045,000 after acquiring an additional 3,178,806 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of CSX by 2.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 9,482,962 shares of the transportation company’s stock valued at $702,214,000 after acquiring an additional 193,133 shares during the last quarter. Morgan Stanley increased its stake in shares of CSX by 38.8% in the 3rd quarter. Morgan Stanley now owns 8,803,609 shares of the transportation company’s stock valued at $651,908,000 after acquiring an additional 2,462,931 shares during the last quarter. Finally, Capital International Investors increased its stake in shares of CSX by 3.7% in the 3rd quarter. Capital International Investors now owns 7,523,468 shares of the transportation company’s stock valued at $557,113,000 after acquiring an additional 271,819 shares during the last quarter. Institutional investors own 75.09% of the company’s stock.

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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Analyst Recommendations for CSX (NASDAQ:CSX)

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