CSX (NASDAQ:CSX) Price Target Cut to $37.00 by Analysts at Susquehanna

CSX (NASDAQ:CSX) had its price objective lowered by Susquehanna from $39.00 to $37.00 in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has a positive rating on the transportation company’s stock.

Several other research firms have also recently commented on CSX. Robert W. Baird cut their target price on CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Barclays reduced their target price on shares of CSX from $40.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, January 24th. Jefferies Financial Group upgraded shares of CSX from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research note on Friday, January 10th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of CSX in a research note on Friday, March 7th. They set a “hold” rating and a $34.00 price objective for the company. Finally, Royal Bank of Canada lowered their target price on CSX from $34.00 to $33.00 and set a “sector perform” rating on the stock in a research report on Friday, January 24th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $36.75.

CSX Stock Up 0.1 %

CSX stock opened at $29.92 on Thursday. CSX has a twelve month low of $28.98 and a twelve month high of $37.18. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. The company has a 50 day moving average of $31.82 and a 200-day moving average of $33.23. The stock has a market capitalization of $56.69 billion, a PE ratio of 16.72, a price-to-earnings-growth ratio of 1.92 and a beta of 1.25.

CSX (NASDAQ:CSX) last released its earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a return on equity of 28.15% and a net margin of 23.95%. On average, equities research analysts anticipate that CSX will post 1.83 EPS for the current fiscal year.

CSX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a $0.13 dividend. The ex-dividend date was Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a yield of 1.74%. This is a positive change from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio is 29.05%.

Institutional Investors Weigh In On CSX

Several hedge funds have recently bought and sold shares of the stock. Norges Bank acquired a new stake in CSX during the 4th quarter worth approximately $780,194,000. Ameriprise Financial Inc. boosted its position in shares of CSX by 89.7% in the fourth quarter. Ameriprise Financial Inc. now owns 20,856,567 shares of the transportation company’s stock valued at $673,025,000 after acquiring an additional 9,863,587 shares during the period. Bank of New York Mellon Corp grew its stake in shares of CSX by 40.5% in the fourth quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company’s stock valued at $753,507,000 after acquiring an additional 6,730,316 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its position in CSX by 471.9% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 6,748,661 shares of the transportation company’s stock worth $217,808,000 after acquiring an additional 5,568,624 shares during the period. Finally, Fiduciary Management Inc. WI acquired a new stake in CSX in the 4th quarter worth about $178,259,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

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.