CSX (NASDAQ:CSX) Price Target Raised to $44.00 at Citigroup

CSX (NASDAQ:CSX) had its price target lifted by Citigroup from $42.00 to $44.00 in a research report released on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the transportation company’s stock.

A number of other equities analysts also recently issued reports on the company. Susquehanna lowered their price target on CSX from $42.00 to $40.00 and set a “positive” rating on the stock in a research report on Thursday, October 17th. Stephens reduced their target price on CSX from $41.00 to $39.00 and set an “overweight” rating on the stock in a research report on Thursday, October 17th. Benchmark reissued a “buy” rating and set a $40.00 target price on shares of CSX in a research note on Wednesday, August 7th. JPMorgan Chase & Co. lifted their price objective on CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. Finally, Wells Fargo & Company dropped their target price on CSX from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Thursday, October 17th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $38.72.

CSX Price Performance

CSX opened at $36.13 on Tuesday. CSX has a 12-month low of $30.30 and a 12-month high of $40.12. The company has a current ratio of 1.39, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The company has a market capitalization of $69.67 billion, a price-to-earnings ratio of 19.42, a PEG ratio of 2.28 and a beta of 1.19. The business’s fifty day simple moving average is $34.19 and its 200-day simple moving average is $33.84.

CSX (NASDAQ:CSX) last posted 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). CSX had a return on equity of 28.92% and a net margin of 24.77%. The business had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.68 billion. During the same period in the previous year, the business earned $0.42 EPS. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. On average, equities research analysts anticipate that CSX will post 1.84 earnings per share for the current fiscal year.

CSX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s dividend payout ratio (DPR) is presently 25.81%.

Institutional Investors Weigh In On CSX

Hedge funds and other institutional investors have recently modified their holdings of the company. Avior Wealth Management LLC grew its position in CSX by 2.5% in the third quarter. Avior Wealth Management LLC now owns 11,790 shares of the transportation company’s stock valued at $407,000 after acquiring an additional 293 shares during the last quarter. Western Wealth Management LLC lifted its stake in shares of CSX by 0.8% in the 2nd quarter. Western Wealth Management LLC now owns 36,127 shares of the transportation company’s stock valued at $1,208,000 after purchasing an additional 295 shares during the period. TriaGen Wealth Management LLC grew its position in shares of CSX by 2.7% during the 2nd quarter. TriaGen Wealth Management LLC now owns 11,524 shares of the transportation company’s stock worth $385,000 after buying an additional 300 shares during the period. Lake Street Advisors Group LLC grew its holdings in CSX by 1.8% in the third quarter. Lake Street Advisors Group LLC now owns 17,246 shares of the transportation company’s stock worth $595,000 after purchasing an additional 306 shares during the period. Finally, J.W. Cole Advisors Inc. raised its stake in CSX by 0.9% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 35,401 shares of the transportation company’s stock worth $1,222,000 after buying an additional 309 shares during the period. Institutional investors and hedge funds own 73.57% of the company’s stock.

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.