CSX (NASDAQ:CSX) Price Target Cut to $38.00 by Analysts at Jefferies Financial Group

CSX (NASDAQ:CSX) had its price objective trimmed by Jefferies Financial Group from $40.00 to $38.00 in a report published on Thursday morning, Benzinga reports. The brokerage currently has a hold rating on the transportation company’s stock.

A number of other brokerages have also recently commented on CSX. TD Cowen increased their price objective on shares of CSX from $32.00 to $36.00 and gave the company a market perform rating in a research note on Thursday, January 25th. JPMorgan Chase & Co. lowered their price objective on shares of CSX from $40.00 to $39.00 and set an overweight rating on the stock in a research note on Thursday, December 21st. StockNews.com cut shares of CSX from a buy rating to a hold rating in a research note on Wednesday, January 31st. Raymond James increased their price objective on shares of CSX from $35.00 to $38.00 and gave the company an outperform rating in a research note on Tuesday, January 16th. Finally, Benchmark increased their price objective on shares of CSX from $38.00 to $40.00 and gave the company a buy rating in a research note on Wednesday, April 10th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $37.72.

CSX Stock Performance

NASDAQ:CSX opened at $34.39 on Thursday. The company has a quick ratio of 0.91, a current ratio of 1.05 and a debt-to-equity ratio of 1.48. CSX has a fifty-two week low of $29.03 and a fifty-two week high of $40.12. The stock has a market cap of $67.32 billion, a PE ratio of 18.90, a price-to-earnings-growth ratio of 1.97 and a beta of 1.18. The firm’s fifty day simple moving average is $36.93 and its 200-day simple moving average is $34.32.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.01. CSX had a net margin of 24.75% and a return on equity of 29.88%. The business had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.66 billion. The business’s revenue for the quarter was down .8% on a year-over-year basis. During the same period in the prior year, the company posted $0.48 EPS. Analysts expect that CSX will post 1.97 earnings per share for the current fiscal year.

CSX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a dividend of $0.12 per share. This is a positive change from CSX’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend was Wednesday, February 28th. CSX’s dividend payout ratio is presently 26.37%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. West Tower Group LLC purchased a new position in shares of CSX during the 4th quarter worth about $26,000. Fortitude Family Office LLC purchased a new position in CSX in the fourth quarter valued at approximately $27,000. Life Planning Partners Inc purchased a new position in CSX in the fourth quarter valued at approximately $27,000. Financial Synergies Wealth Advisors Inc. purchased a new position in CSX in the first quarter valued at approximately $29,000. Finally, Fortis Capital Advisors LLC purchased a new position in CSX in the fourth quarter valued at approximately $27,000. 73.57% of the stock is currently 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.