Stifel Nicolaus Lowers CSX (NASDAQ:CSX) Price Target to $37.00

CSX (NASDAQ:CSX) had its price target cut by Stifel Nicolaus from $39.00 to $37.00 in a report issued on Thursday, Benzinga reports. They currently have a buy rating on the transportation company’s stock.

A number of other equities research analysts have also recently weighed in on CSX. JPMorgan Chase & Co. upped their price objective on shares of CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a report on Tuesday, August 6th. Benchmark restated a “buy” rating and issued a $40.00 price objective on shares of CSX in a report on Wednesday, August 7th. TD Cowen dropped their target price on shares of CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday. Bank of America downgraded shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a research note on Monday, July 8th. Finally, Barclays dropped their target price on shares of CSX from $41.00 to $40.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 25th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, CSX presently has a consensus rating of “Moderate Buy” and an average price target of $38.61.

CSX Price Performance

Shares of CSX opened at $33.09 on Thursday. The stock has a market cap of $64.69 billion, a PE ratio of 18.18, a price-to-earnings-growth ratio of 1.90 and a beta of 1.19. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.01 and a current ratio of 1.16. CSX has a fifty-two week low of $29.03 and a fifty-two week high of $40.12. The firm’s 50-day simple moving average is $34.02 and its two-hundred day simple moving average is $33.99.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The business had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.68 billion. CSX had a return on equity of 29.11% and a net margin of 24.52%. CSX’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.42 EPS. Analysts anticipate that CSX will post 1.93 earnings per share for the current fiscal year.

CSX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a $0.12 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.48 annualized dividend and a yield of 1.45%. CSX’s payout ratio is presently 26.37%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Itau Unibanco Holding S.A. bought a new position in CSX in the second quarter worth approximately $26,000. Financial Synergies Wealth Advisors Inc. bought a new position in CSX in the first quarter worth approximately $29,000. MFA Wealth Advisors LLC bought a new position in CSX in the second quarter worth approximately $27,000. Fairscale Capital LLC bought a new position in CSX in the second quarter worth approximately $32,000. Finally, Valued Wealth Advisors LLC raised its position in CSX by 172.7% in the first quarter. Valued Wealth Advisors LLC now owns 938 shares of the transportation company’s stock worth $35,000 after acquiring an additional 594 shares during the period. 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.