JPMorgan Chase & Co. Raises CSX (NASDAQ:CSX) Price Target to $42.00

CSX (NASDAQ:CSX) had its price objective increased by JPMorgan Chase & Co. from $39.00 to $42.00 in a research report released on Tuesday, Benzinga reports. They currently have an overweight rating on the transportation company’s stock.

A number of other research analysts have also weighed in on the company. UBS Group reduced their target price on CSX from $46.00 to $44.00 and set a buy rating for the company in a report on Thursday, April 18th. Susquehanna reduced their target price on CSX from $44.00 to $40.00 and set a positive rating for the company in a report on Tuesday, June 25th. Stephens reaffirmed an overweight rating and set a $42.00 target price on shares of CSX in a report on Tuesday. Benchmark reissued a buy rating and set a $40.00 price objective on shares of CSX in a report on Thursday, April 18th. Finally, Sanford C. Bernstein boosted their price objective on CSX from $35.00 to $36.00 and gave the stock a market perform rating in a report on Monday, July 8th. Seven analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, CSX currently has a consensus rating of Moderate Buy and a consensus target price of $38.80.

CSX Price Performance

CSX stock remained flat at $34.25 during midday trading on Tuesday. The company had a trading volume of 3,137,510 shares, compared to its average volume of 11,789,336. CSX has a fifty-two week low of $29.03 and a fifty-two week high of $40.12. The business has a 50 day moving average of $33.58 and a 200-day moving average of $35.02. The firm has a market cap of $66.96 billion, a price-to-earnings ratio of 18.82, a PEG ratio of 1.89 and a beta of 1.20. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.15 and a quick ratio of 1.00.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Monday, August 5th. The transportation company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. The business had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.70 billion. CSX had a return on equity of 29.58% and a net margin of 24.75%. The firm’s quarterly revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.49 EPS. Equities research analysts expect that CSX will post 1.94 EPS for the current year.

CSX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.40%. The ex-dividend date is Friday, August 30th. CSX’s dividend payout ratio is currently 26.37%.

Institutional Trading of CSX

Several hedge funds and other institutional investors have recently bought and sold shares of CSX. MFA Wealth Advisors LLC bought a new stake in CSX in the second quarter valued at approximately $27,000. Financial Synergies Wealth Advisors Inc. bought a new stake in CSX in the first quarter valued at approximately $29,000. Strategic Financial Concepts LLC bought a new stake in CSX in the second quarter valued at approximately $33,000. Turtle Creek Wealth Advisors LLC bought a new stake in CSX in the fourth quarter valued at approximately $34,000. Finally, Burkett Financial Services LLC bought a new stake in CSX in the fourth quarter valued at approximately $34,000. Institutional investors own 73.57% of the company’s stock.

About CSX

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.