CSX (NASDAQ:CSX) Price Target Lowered to $40.00 at Susquehanna

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

Several other equities research analysts have also commented on CSX. JPMorgan Chase & Co. increased their price objective on shares of CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. Loop Capital decreased their price objective on shares of CSX from $43.00 to $42.00 and set a “buy” rating for the company in a research note on Thursday. Stephens reiterated an “overweight” rating and issued a $42.00 price objective on shares of CSX in a research note on Tuesday, August 6th. Barclays decreased their price objective on shares of CSX from $41.00 to $40.00 and set an “overweight” rating for the company in a research note on Wednesday, September 25th. Finally, Bank of America lowered shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a research note on Monday, July 8th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $38.61.

CSX Trading Up 3.1 %

CSX opened at $34.12 on Thursday. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.16 and a quick ratio of 1.01. CSX has a fifty-two week low of $29.03 and a fifty-two week high of $40.12. The firm has a market capitalization of $66.70 billion, a PE ratio of 18.75, a P/E/G ratio of 1.90 and a beta of 1.19. The company’s 50-day moving average is $34.02 and its 200 day moving average is $33.93.

CSX (NASDAQ:CSX) last posted its earnings results 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 29.11% and a net margin of 24.52%. The business had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.68 billion. During the same quarter in the prior year, the company earned $0.42 EPS. The company’s revenue was up 1.3% on a year-over-year basis. As a group, research analysts predict that CSX will post 1.93 earnings per share for the current fiscal year.

CSX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.48 annualized dividend and a dividend yield of 1.41%. CSX’s payout ratio is currently 26.37%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. McClarren Financial Advisors Inc. boosted its holdings in CSX by 1,608.3% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 2,050 shares of the transportation company’s stock worth $71,000 after buying an additional 1,930 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in CSX by 9.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 322,810 shares of the transportation company’s stock worth $11,147,000 after buying an additional 29,161 shares during the period. Cyndeo Wealth Partners LLC boosted its holdings in CSX by 4.0% in the 3rd quarter. Cyndeo Wealth Partners LLC now owns 12,735 shares of the transportation company’s stock worth $440,000 after buying an additional 485 shares during the period. New Century Financial Group LLC boosted its holdings in CSX by 22.0% in the 3rd quarter. New Century Financial Group LLC now owns 10,751 shares of the transportation company’s stock worth $371,000 after buying an additional 1,940 shares during the period. Finally, Resonant Capital Advisors LLC boosted its holdings in CSX by 3.6% in the 3rd quarter. Resonant Capital Advisors LLC now owns 55,963 shares of the transportation company’s stock worth $1,932,000 after buying an additional 1,962 shares during the period. 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.