CSX (NASDAQ:CSX) Hits New 1-Year High - Still a Buy?

Key Points

• CSX Corporation recently reached a new 52-week high of $37.25 during trading, closing at $36.58 with a trading volume of 12,287,961 shares.
• Analysts have responded positively, with several raising their price targets; JPMorgan Chase increased its target from $34 to $41 while Bank of America raised theirs to $42.
• CSX declared a quarterly dividend of $0.13 per share, with a yield of 1.4%, signaling ongoing financial health despite a dip in earnings year-over-year.

Shares of CSX Corporation (NASDAQ:CSX - Get Free Report) reached a new 52-week high during trading on Tuesday . The stock traded as high as $37.25 and last traded at $36.58, with a volume of 12287961 shares traded. The stock had previously closed at $35.99.

Wall Street Analyst Weigh In

Several analysts have commented on CSX shares. Wall Street Zen raised shares of CSX from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Argus set a $32.00 target price on shares of CSX in a research note on Friday, April 25th. Raymond James Financial lifted their target price on shares of CSX from $33.00 to $37.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. JPMorgan Chase & Co. lifted their target price on shares of CSX from $34.00 to $41.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Finally, Bank of America raised shares of CSX from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $34.00 to $42.00 in a research note on Thursday, July 17th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $37.00.

CSX Price Performance

The company's 50 day moving average price is $34.28 and its 200-day moving average price is $31.66. The company has a market capitalization of $64.37 billion, a PE ratio of 21.38, a PEG ratio of 2.69 and a beta of 1.25. The company has a current ratio of 0.77, a quick ratio of 0.63 and a debt-to-equity ratio of 1.50.

CSX (NASDAQ:CSX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.02. CSX had a net margin of 21.92% and a return on equity of 25.48%. The company had revenue of $3.57 billion during the quarter, compared to analysts' expectations of $3.57 billion. During the same period in the previous year, the company earned $0.49 EPS. The business's quarterly revenue was down 3.5% compared to the same quarter last year. On average, sell-side analysts forecast that CSX Corporation will post 1.83 earnings per share for the current fiscal year.

CSX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.52 annualized dividend and a dividend yield of 1.5%. CSX's payout ratio is currently 32.10%.

Institutional Trading of CSX

Institutional investors have recently made changes to their positions in the stock. Twin Peaks Wealth Advisors LLC acquired a new position in shares of CSX during the 2nd quarter valued at $25,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of CSX during the 4th quarter valued at $27,000. Rossby Financial LCC acquired a new position in shares of CSX during the 1st quarter valued at $28,000. WFA of San Diego LLC acquired a new position in shares of CSX during the 2nd quarter valued at $28,000. Finally, Accredited Wealth Management LLC acquired a new position in shares of CSX during the 4th quarter valued at $29,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Company Profile

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It also transports chemicals, agricultural and food products, minerals, automotive, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities.