Analysts Set CSX Co. (NASDAQ:CSX) Price Target at $38.80

Shares of CSX Co. (NASDAQ:CSX) have been assigned an average recommendation of “Moderate Buy” from the sixteen ratings firms that are presently covering the stock, MarketBeat reports. Six equities research analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $38.80.

CSX has been the subject of a number of research analyst reports. Wells Fargo & Company started coverage on CSX in a research report on Friday, June 7th. They set an “equal weight” rating and a $35.00 price objective for the company. Stephens reaffirmed an “overweight” rating and issued a $42.00 price objective on shares of CSX in a research note on Tuesday, August 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $36.00 price objective on shares of CSX in a report on Tuesday, August 6th. Sanford C. Bernstein raised their target price on shares of CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a report on Monday, July 8th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $40.00 price target on shares of CSX in a research report on Tuesday, August 6th.

CSX Stock Up 2.2 %

Shares of CSX opened at $34.80 on Tuesday. The business’s 50 day moving average is $34.00 and its 200 day moving average is $34.42. The company has a current ratio of 1.16, a quick ratio of 1.01 and a debt-to-equity ratio of 1.42. CSX has a 12-month low of $29.03 and a 12-month high of $40.12. The company has a market capitalization of $68.03 billion, a PE ratio of 19.12, a price-to-earnings-growth ratio of 1.77 and a beta of 1.19.

CSX (NASDAQ:CSX) last released its earnings results on Monday, August 5th. The transportation company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.48 by $0.01. The firm had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.70 billion. CSX had a net margin of 24.52% and a return on equity of 29.11%. The company’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.49 earnings per share. Research analysts expect that CSX will post 1.93 earnings per share for the current fiscal year.

CSX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.38%. The ex-dividend date was Friday, August 30th. CSX’s payout ratio is currently 26.37%.

Institutional Investors Weigh In On CSX

A number of institutional investors and hedge funds have recently modified their holdings of the business. Price T Rowe Associates Inc. MD boosted its holdings in shares of CSX by 18.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 64,807,961 shares of the transportation company’s stock valued at $2,246,893,000 after purchasing an additional 9,914,656 shares during the period. Capital International Investors boosted its stake in shares of CSX by 14.3% during the fourth quarter. Capital International Investors now owns 40,353,078 shares of the transportation company’s stock valued at $1,399,104,000 after purchasing an additional 5,041,679 shares in the last quarter. Interval Partners LP increased its holdings in CSX by 849.0% during the second quarter. Interval Partners LP now owns 5,118,751 shares of the transportation company’s stock valued at $171,222,000 after buying an additional 4,579,344 shares during the period. Manning & Napier Advisors LLC bought a new position in CSX in the second quarter worth approximately $116,430,000. Finally, M&G Plc purchased a new stake in CSX during the first quarter worth $126,089,000. 73.57% of the stock is 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.