CSX predicts 25 percent profit jump as restructuring begins

Morgan Stanley upgraded CSX from an "underweight" rating to an "equal weight" rating and upped their target price for the stock from $24.00 to $37.00 in a research note on Thursday, January 19th. Cowen & Co maintained CSX Corporation (NASDAQ:CSX) rating on Thursday, January 14. The company has a 1 Year high price target of $52.17. CSX's dividend payout ratio is presently 39.78%. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and sixteen have issued a buy rating to the stock. Analyst's mean target price for CSX is $52.21 while analysts mean recommendation is 2.20.

Displaying a price of $46.93, CSX (NASDAQ:CSX) traded 0.00% even on the day. The stock lost -3.58% in total of its share price. The company's 50-day moving average price is $47.37 and its 200-day moving average price is $40.34. The P/E ratio was recorded at 25.91.The volatility in the previous week has experienced by 1.93% and observed of 1.93% in the previous month.73.40% ownership is held by institutional investors while insiders hold ownership of 0.30%. CSX also was the recipient of some unusual options trading activity on Tuesday. This is an increase of 297% compared to the average volume of 2,342 put options.

In this Thursday, Jan. 26, 2017, photo, a CSX freight train passes through Homestead, Pa. CSX Corp. reports earnings Wednesday, April 19, 2017.

CSX, based in Jacksonville, Florida, is a premier transportation company. "In line with the company's balanced approach in deploying capital, CSX now expects to invest $2.1 billion in 2017, including approximately $270 million for Positive Train Control", it said in a statement. During the same period previous year, the firm earned $0.48 earnings per share.

At the same time, CSX announced an 11% increase in its quarterly dividend, a new $1 billion share repurchase program and "strong financial guidance" as it applies Harrison's Precision Scheduled Railroading model to its operations. Zacks Investment Research raised shares of CSX from a "hold" rating to a "buy" rating and set a $54.00 price objective for the company in a report on Wednesday, March 1st.

COPYRIGHT VIOLATION WARNING: "CSX (CSX) Receives Daily News Impact Score of 0.11" was published by BBNS and is the sole property of of BBNS. If you are reading this report on another website, it was illegally stolen and republished in violation of USA & worldwide copyright law. The company has a consensus rating of "Buy" and a consensus target price of $55.10. The ex-dividend date is Friday, May 26th. Plus, it is looking for free cash flow before dividends of around $1.5 billion. South Dakota Investment Council owned about 0.08% of CSX Corporation worth $21,588,000 at the end of the most recent reporting period.

The number of shares now held by investors is 923.13 Million. CSX noted $123 million worth of efficiency savings during the quarter. Currently, 1.9% of the shares of the stock are short sold. Bristol John W & Co. Inc.

Wednesday marked the first earnings report for the recently installed Mr. Harrison, an industry maverick who is known for rejuvenating companies through cost-cutting and streamlining operations. Finally, Perkins Investment Management LLC increased its stake in shares of CSX by 18.7% in the third quarter.

  • Todd Kelly