CSX (NASDAQ:CSX) Price Target Cut to $40.00 by Analysts at Susquehanna

CSX (NASDAQ:CSX) had its target price trimmed by Susquehanna from $42.00 to $40.00 in a research report sent to investors on Thursday morning, Benzinga reports. The firm currently has a positive rating on the transportation company’s stock.

Several other equities research analysts have also weighed in on the company. Loop Capital cut their target price on CSX from $43.00 to $42.00 and set a “buy” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. raised 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. Bank of America cut shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 target price for the company. in a report on Monday, July 8th. Stephens reiterated an “overweight” rating and set a $42.00 price target on shares of CSX in a research note on Tuesday, August 6th. Finally, Citigroup started coverage on shares of CSX in a research note on Wednesday, October 9th. They issued a “buy” rating and a $42.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $38.61.

CSX Stock Up 3.1 %

Shares of CSX stock opened at $34.12 on Thursday. CSX has a 52-week low of $29.03 and a 52-week high of $40.12. The company has a 50 day moving average of $34.02 and a 200 day moving average of $33.95. The company has a quick ratio of 1.01, a current ratio of 1.16 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $66.70 billion, a P/E ratio of 18.75, a P/E/G ratio of 1.90 and a beta of 1.19.

CSX (NASDAQ:CSX) last issued its earnings results on Wednesday, October 16th. The transportation company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). CSX had a return on equity of 29.11% and a net margin of 24.52%. The firm had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.68 billion. During the same quarter in the previous year, the firm posted $0.42 EPS. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. As a group, research analysts forecast that CSX will post 1.93 EPS for the current fiscal year.

CSX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.41%. The ex-dividend date is Friday, November 29th. CSX’s dividend payout ratio (DPR) is presently 26.37%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CSX. Banque Cantonale Vaudoise boosted its holdings in CSX by 149.1% in the 2nd quarter. Banque Cantonale Vaudoise now owns 17,208 shares of the transportation company’s stock valued at $575,000 after purchasing an additional 10,301 shares in the last quarter. Ascent Group LLC boosted its stake in shares of CSX by 559.7% in the first quarter. Ascent Group LLC now owns 58,779 shares of the transportation company’s stock valued at $2,179,000 after buying an additional 49,869 shares in the last quarter. PFG Advisors boosted its stake in shares of CSX by 2.1% in the first quarter. PFG Advisors now owns 18,880 shares of the transportation company’s stock valued at $700,000 after buying an additional 387 shares in the last quarter. Sei Investments Co. grew its holdings in CSX by 4.2% during the first quarter. Sei Investments Co. now owns 597,426 shares of the transportation company’s stock worth $22,146,000 after acquiring an additional 23,938 shares during the period. Finally, William B. Walkup & Associates Inc. purchased a new position in CSX in the second quarter worth $867,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

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.