CSX (NASDAQ:CSX) PT Lowered to $37.00 at Stifel Nicolaus

CSX (NASDAQ:CSX) had its price target decreased by Stifel Nicolaus from $39.00 to $37.00 in a research note issued to investors on Thursday, Benzinga reports. Stifel Nicolaus currently has a buy rating on the transportation company’s stock.

A number of other brokerages have also recently commented on CSX. Evercore ISI dropped their price objective on shares of CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a research note on Thursday. Stephens reissued an “overweight” rating and issued a $42.00 price objective on shares of CSX in a research note on Tuesday, August 6th. Susquehanna dropped their price objective on shares of CSX from $42.00 to $40.00 and set a “positive” rating for the company in a research note on Thursday. BMO Capital Markets dropped their price target on shares of CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a research note on Thursday. Finally, Barclays dropped their price target 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. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.61.

CSX Stock Performance

CSX opened at $34.12 on Thursday. The stock has a market capitalization of $66.70 billion, a price-to-earnings ratio of 18.75, a PEG ratio of 1.90 and a beta of 1.19. The company has a fifty day moving average of $34.02 and a 200 day moving average of $33.93. CSX has a fifty-two week low of $29.03 and a fifty-two week high of $40.12. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.01 and a current ratio of 1.16.

CSX (NASDAQ:CSX) last issued its quarterly earnings data 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 business had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.68 billion. During the same period in the previous year, the business earned $0.42 earnings per share. The business’s quarterly revenue was up 1.3% on a year-over-year basis. As a group, sell-side analysts forecast that CSX will post 1.93 earnings per share for the current fiscal year.

CSX Dividend Announcement

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

Institutional Inflows and Outflows

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