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CSX Corporation (NASDAQ: CSX) Fell -32.03% From Highs, What Does The Future Hold?

CSX Corporation (NASDAQ:CSX)’s traded shares stood at 21.47 million during the last session, with the company’s beta value hitting 1.23. At the close of trading, the stock’s price was $28.91, to imply a decrease of -1.43% or -$0.42 in intraday trading. The CSX share’s 52-week high remains $38.17, putting it -32.03% down since that peak but still an impressive 10.76% since price per share fell to its 52-week low of $25.80. The company has a valuation of $60.18B, with an average of 15.99 million shares in intraday trading volume over the past 10 days and average of 13.14 million shares over the past 3 months.

Analysts have given a consensus recommendation of an Overweight for CSX Corporation (CSX), translating to a mean rating of 2.20. Of 29 analyst(s) looking at the stock, 1 analyst(s) give CSX a Sell rating. 5 of those analysts rate the stock as Overweight while 9 advise Hold as 14 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at $0.42.

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CSX Corporation (NASDAQ:CSX) trade information

After registering a -1.43% downside in the last session, CSX Corporation (CSX) has traded red over the past five days. The stock hit a weekly high of 29.85 this Friday, 03/17/23, dropping -1.43% in its intraday price action. The 5-day price performance for the stock is -1.97%, and -8.71% over 30 days. With these gigs, the year-to-date price performance is -6.68%. Short interest in CSX Corporation (NASDAQ:CSX) saw shorts transact 18.89 million shares and set a 1.38 days time to cover.

Analysts on Wall Street suggest a consensus price target of $34.28, implying an increase of 15.67% to the stock’s current value. The extremes give us $24.00 and $39.00 for target low and target high price respectively. As such, CSX has been trading -34.9% off suggested target high and 16.98% from its likely low.

CSX Corporation (CSX) estimates and forecasts

Looking at statistics comparing CSX Corporation share performance against respective industry, we note that the company has underperformed competitors. CSX Corporation (CSX) shares are -4.18% down over the last 6 months, with its year-to-date growth rate lower than industry average at -2.62% against 8.30%. Revenue is forecast to grow 7.70% this quarter before falling -2.00% for the next one. The rating firms project that company’s revenue will shrink -1.40% compared to the previous financial year.

Revenue forecast for the current quarter as set by 17 analysts is $3.57 billion. Meanwhile, for the quarter ending Jun 2023, a total of 16 analyst(s) estimate revenue growth to $3.7 billion.Earnings reports from the last fiscal year show that sales brought in $3.41 billion and $3.81 billion respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 4.60% before dropping -2.90% in the following quarter.

An assessment of the company’s 5-year growth patterns shows that annual earnings grew an estimated 22.10% for the past 5-year period. While 2023 is set for a 16.00% return in earnings, projections for the next 5 years are at 8.25% annually.

CSX Dividends

CSX Corporation has its next earnings report out between April 18 and April 24. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. CSX Corporation has a forward dividend ratio of 0.44, with the share yield ticking at 1.52% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.

CSX Corporation (NASDAQ:CSX)’s Major holders

CSX Corporation insiders hold 0.24% of total outstanding shares, with institutional holders owning 76.92% of the shares at 77.11% float percentage. In total, 76.92% institutions holds shares in the company, led by Vanguard Group, Inc. (The). As of Sep 29, 2022, the company held over 184.94 million shares (or 8.80% of shares), all amounting to roughly $4.93 billion.

The next major institution holding the largest number of shares is Blackrock Inc. with 137.89 million shares, or about 6.56% of shares outstanding. As of the market price on Sep 29, 2022, these shares were worth $3.67 billion.

We also have Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund as the top two Mutual Funds with the largest holdings of the CSX Corporation (CSX) shares. Going by data provided on Sep 29, 2022, Vanguard Total Stock Market Index Fund holds roughly 63.83 million shares. This is just over 3.04% of the total shares, with a market valuation of $1.7 billion. Data from the same date shows that the other fund manager holds a little less at 48.54 million, or 2.31% of the shares, all valued at about 1.29 billion.

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