Key Points
- CSX SVP Michael Burns sold 13,000 shares at an average price of $52.68, totaling $684,840 and reducing his direct holdings by 17.90% to 59,643 shares.
- CSX reported quarterly adjusted earnings of $0.54 per share, exceeding estimates by $0.02, while revenue rose 10.1% year over year to $3.94 billion.
- Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and a $51.17 target price; CSX also declared a quarterly dividend of $0.14 per share, yielding about 1.1% annually.
CSX Corporation (NASDAQ:CSX - Get Free Report) SVP Michael Burns sold 13,000 shares of the firm's stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $52.68, for a total value of $684,840.00. Following the sale, the senior vice president directly owned 59,643 shares in the company, valued at approximately $3,141,993.24. The trade was a 17.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
CSX Price Performance
CSX opened at $50.84 on Wednesday. The firm has a market capitalization of $94.18 billion, a PE ratio of 29.39, a price-to-earnings-growth ratio of 2.39 and a beta of 1.21. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.82 and a quick ratio of 0.72. The business's 50-day moving average is $47.91 and its two-hundred day moving average is $43.43. CSX Corporation has a 1 year low of $31.80 and a 1 year high of $53.60.
CSX (NASDAQ:CSX - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.52 by $0.02. CSX had a net margin of 22.21% and a return on equity of 24.98%. The business had revenue of $3.94 billion during the quarter, compared to analyst estimates of $3.89 billion. During the same period in the prior year, the firm posted $0.44 earnings per share. The company's quarterly revenue was up 10.1% on a year-over-year basis. Research analysts anticipate that CSX Corporation will post 1.98 earnings per share for the current fiscal year.
CSX Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $0.56 dividend on an annualized basis and a yield of 1.1%. CSX's dividend payout ratio is presently 32.37%.
Analyst Ratings Changes
Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of CSX from $56.00 to $58.00 and gave the stock an "overweight" rating in a report on Thursday, July 23rd. Wells Fargo & Company increased their price objective on CSX from $50.00 to $54.00 and gave the company an "overweight" rating in a report on Wednesday, July 8th. Vertical Research cut CSX from a "buy" rating to a "hold" rating and set a $44.00 price objective for the company. in a research report on Thursday, April 23rd. Barclays restated an "overweight" rating and set a $60.00 target price (up from $55.00) on shares of CSX in a research note on Thursday, July 23rd. Finally, Argus upped their target price on CSX from $42.00 to $52.00 and gave the company a "buy" rating in a research report on Friday, May 22nd. Seventeen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $51.17.
Get Our Latest Stock Analysis on CSX
CSX News Roundup
Here are the key news stories impacting CSX this week:
- Positive Sentiment: Investors purchased 32,791 CSX call options, about 95% above the stock’s typical daily call volume. The activity may indicate increased bullish positioning, although options flows do not necessarily predict future performance.
- Neutral Sentiment: Conrail CEO Gorton is retiring. Because Conrail is co-owned by CSX and Norfolk Southern, the leadership change could create some uncertainty, but the immediate financial effect on CSX is unclear. Conrail CEO Gorton retiring
- Neutral Sentiment: A CSX railroad crossing on State Road 60 in Florida is scheduled to remain closed for two weeks for maintenance or related work. The disruption appears localized and is unlikely to materially affect companywide results. CSX railroad crossing closure
- Negative Sentiment: Two people suffered critical injuries while cranes were being scrapped at a CSX intermodal facility in Jacksonville. The incident could bring operational, regulatory, liability, or reputational concerns, although its financial impact is not yet known. Jacksonville intermodal facility accident
- Negative Sentiment: Chief Accounting Officer Angela C. Williams sold 30,000 shares worth approximately $1.60 million, reducing her direct ownership by 74.19%. Senior Vice President Michael S. Burns also sold 13,000 shares valued at about $684,840, cutting his holdings by 17.90%. Multiple insider sales can weigh on sentiment, though such transactions may reflect personal financial planning rather than a view on CSX’s outlook. CSX insider stock sale
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the stock. WFA of San Diego LLC purchased a new position in shares of CSX in the second quarter worth $28,000. Arlington Trust Co LLC grew its holdings in shares of CSX by 58.0% during the second quarter. Arlington Trust Co LLC now owns 681 shares of the transportation company's stock valued at $32,000 after buying an additional 250 shares during the last quarter. Wilkerson Advisory Group LLC increased its position in shares of CSX by 97.4% in the 1st quarter. Wilkerson Advisory Group LLC now owns 829 shares of the transportation company's stock valued at $34,000 after acquiring an additional 409 shares during the period. Allied Private Wealth LLC acquired a new position in shares of CSX in the 2nd quarter valued at $37,000. Finally, CrossGen Wealth LLC purchased a new position in CSX in the 4th quarter worth $54,000. Hedge funds and other institutional investors own 73.57% of the company's stock.
About CSX
(
Get Free Report)
CSX Corporation is a leading North American transportation company that provides rail-based freight services and supply-chain solutions. Its operating subsidiary, CSX Transportation, moves a wide range of goods for customers across multiple industries, using a combination of long-haul rail service, intermodal operations and terminal and yard services. The company focuses on delivering efficient, reliable freight transportation between major production centers, consumption markets and port gateways.
CSX's freight portfolio includes intermodal containers and trailers, bulk commodities, industrial products and specialized unit trains.
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