CSX (NASDAQ:CSX) PT Lowered to $37.00

CSX (NASDAQ:CSX) had its price objective trimmed by Evercore ISI from $38.00 to $37.00 in a report issued on Thursday, Benzinga reports. The firm currently has an outperform rating on the transportation company’s stock.

Other analysts have also recently issued research reports about the stock. Citigroup began coverage on shares of CSX in a research note on Wednesday, October 9th. They issued a “buy” rating and a $42.00 price objective for the company. BMO Capital Markets reiterated an “outperform” rating and issued a $40.00 price target on shares of CSX in a research report on Tuesday, August 6th. Susquehanna lifted their price target on shares of CSX from $41.00 to $42.00 and gave the company a “positive” rating in a research report on Wednesday, October 2nd. Bank of America downgraded shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a research report on Monday, July 8th. Finally, Benchmark reiterated a “buy” rating and issued a $40.00 price target on shares of CSX in a research report on Wednesday, August 7th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.61.

CSX Trading Up 3.1 %

Shares of NASDAQ:CSX opened at $34.12 on Thursday. The stock has a market cap 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 has a quick ratio of 1.01, a current ratio of 1.16 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 business has a 50 day moving average of $34.02 and a 200-day moving average of $33.93.

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 net margin of 24.52% and a return on equity of 29.11%. The firm had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.68 billion. During the same period in the prior year, the company earned $0.42 earnings per share. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. As a group, equities research analysts forecast that CSX will post 1.93 earnings per share for the current year.

CSX Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.48 dividend on an annualized basis and a yield of 1.41%. CSX’s dividend payout ratio (DPR) is 26.37%.

Institutional Trading of CSX

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD grew its stake in shares of CSX by 0.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 65,251,716 shares of the transportation company’s stock worth $2,418,883,000 after buying an additional 443,755 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of CSX by 6.6% during the second quarter. Bank of New York Mellon Corp now owns 17,133,857 shares of the transportation company’s stock worth $573,128,000 after buying an additional 1,060,204 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of CSX by 9.3% during the second quarter. Dimensional Fund Advisors LP now owns 12,421,862 shares of the transportation company’s stock worth $415,466,000 after buying an additional 1,060,617 shares during the last quarter. Bank of Montreal Can grew its stake in shares of CSX by 38.7% during the second quarter. Bank of Montreal Can now owns 6,749,827 shares of the transportation company’s stock worth $225,917,000 after buying an additional 1,884,998 shares during the last quarter. Finally, Interval Partners LP grew its stake in shares of CSX by 849.0% during the second quarter. Interval Partners LP now owns 5,118,751 shares of the transportation company’s stock worth $171,222,000 after buying an additional 4,579,344 shares during the last quarter. Institutional investors own 73.57% of the company’s stock.

About CSX

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.