CSX (NASDAQ:CSX) PT Lowered to $39.00

CSX (NASDAQ:CSX) had its target price cut by Bank of America from $40.00 to $39.00 in a research note released on Thursday morning, Benzinga reports. They currently have a buy rating on the transportation company’s stock.

CSX has been the topic of several other research reports. TD Cowen upped their target price on CSX from $32.00 to $36.00 and gave the company a market perform rating in a research report on Thursday, January 25th. Benchmark upped their target price on CSX from $38.00 to $40.00 and gave the company a buy rating in a research report on Wednesday, April 10th. Susquehanna upped their target price on CSX from $42.00 to $44.00 and gave the company a positive rating in a research report on Thursday, March 28th. Raymond James upped their target price on CSX from $35.00 to $38.00 and gave the company an outperform rating in a research report on Tuesday, January 16th. Finally, StockNews.com cut CSX from a buy rating to a hold rating in a research note on Wednesday, January 31st. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $37.72.

CSX Price Performance

Shares of NASDAQ CSX opened at $34.39 on Thursday. The business’s 50 day moving average price is $36.93 and its two-hundred day moving average price is $34.32. The company 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 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 twelve month low of $29.03 and a twelve month high of $40.12.

CSX (NASDAQ:CSX) last announced 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 return on equity of 29.88% and a net margin of 24.75%. The firm had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter in the previous year, the business earned $0.48 earnings per share. The business’s revenue was down .8% compared to the same quarter last year. On average, analysts predict that CSX will post 1.97 EPS for the current year.

CSX Increases Dividend

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

Institutional Investors Weigh In On CSX

Several institutional investors and hedge funds have recently added to or reduced their stakes in CSX. West Tower Group LLC bought a new position in shares of CSX in the 4th quarter valued at $26,000. Fortitude Family Office LLC bought a new position in shares of CSX in the 4th quarter valued at $27,000. Life Planning Partners Inc bought a new position in shares of CSX in the 4th quarter valued at $27,000. Fortis Capital Advisors LLC bought a new position in shares of CSX in the 4th quarter valued at $27,000. Finally, Financial Synergies Wealth Advisors Inc. bought a new position in shares of CSX in the 1st quarter valued at $29,000. 73.57% of the stock is currently owned by 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.