CSX (NASDAQ:CSX) Earns Outperform Rating from Credit Suisse Group

Posted by Defense World Staff on Apr 25th, 2023

Credit Suisse Group reaffirmed their outperform rating on shares of CSX (NASDAQ:CSX – Get Rating) in a research report released on Friday morning, Benzinga reports. The brokerage currently has a $37.00 price target on the transportation company’s stock.

Several other research analysts also recently weighed in on CSX. Wells Fargo & Company lifted their target price on shares of CSX from $28.00 to $32.00 and gave the stock an equal weight rating in a research report on Wednesday, January 4th. Susquehanna lifted their target price on shares of CSX from $32.00 to $34.00 and gave the company a neutral rating in a research note on Friday. Raymond James lifted their target price on shares of CSX from $34.00 to $35.00 and gave the company an outperform rating in a research note on Friday. Citigroup boosted their price objective on shares of CSX from $32.00 to $33.00 and gave the stock a neutral rating in a research note on Friday. Finally, Morgan Stanley boosted their price objective on shares of CSX from $24.00 to $26.00 and gave the stock an equal weight rating in a research note on Friday. Eleven analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $34.60.

CSX Price Performance

Shares of CSX stock opened at $31.38 on Friday. The firm has a market cap of $64.37 billion, a P/E ratio of 15.48, a P/E/G ratio of 2.47 and a beta of 1.22. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.56 and a quick ratio of 1.42. CSX has a 1-year low of $25.80 and a 1-year high of $35.55. The firm has a fifty day moving average of $30.08 and a two-hundred day moving average of $30.49.

CSX (NASDAQ:CSX – Get Rating) last posted its quarterly earnings results on Thursday, April 20th. The transportation company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.05. The company had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.58 billion. CSX had a net margin of 28.35% and a return on equity of 32.66%. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period last year, the firm posted $0.39 EPS. As a group, research analysts anticipate that CSX will post 1.89 earnings per share for the current fiscal year.

CSX Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 15th. Shareholders of record on Tuesday, February 28th were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 1.40%. The ex-dividend date was Monday, February 27th. This is an increase from CSX’s previous quarterly dividend of $0.10. CSX’s dividend payout ratio (DPR) is currently 21.67%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CSX. Thompson Investment Management Inc. acquired a new position in CSX in the 1st quarter worth about $25,000. WFA of San Diego LLC purchased a new position in CSX during the 4th quarter valued at about $26,000. Fortis Capital Advisors LLC acquired a new position in CSX in the 4th quarter valued at about $27,000. TimeScale Financial Inc. boosted its stake in shares of CSX by 1,391.8% in the first quarter. TimeScale Financial Inc. now owns 910 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 849 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in CSX during the 4th quarter worth approximately $32,000. 72.91% of the stock is currently owned by hedge funds and other institutional investors.

CSX Company Profile

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CSX Corp. engages in the provision of rail-based freight transportation services. Its services include rail service, the transport of intermodal containers and trailers, rail-to-truck transfers and bulk commodity operations. The company was founded in 1827 and is headquartered in Jacksonville, FL.