Royal Bank of Canada Issues Pessimistic Forecast for CSX (NASDAQ:CSX) Stock Price

CSX (NASDAQ:CSX) had its price target reduced by equities researchers at Royal Bank of Canada from $34.00 to $33.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “sector perform” rating on the transportation company’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 0.95% from the stock’s previous close.

Other research analysts have also issued research reports about the stock. Susquehanna lowered their price target on shares of CSX from $40.00 to $39.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Stifel Nicolaus lowered their target price on shares of CSX from $39.00 to $37.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. Robert W. Baird cut their price target on shares of CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday. BMO Capital Markets lowered their price objective on CSX from $40.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday. Finally, Evercore ISI cut their target price on CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Six research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, CSX currently has an average rating of “Moderate Buy” and an average target price of $37.68.

CSX Trading Down 2.9 %

CSX opened at $32.69 on Friday. The company has a market cap of $63.04 billion, a P/E ratio of 17.58, a PEG ratio of 2.06 and a beta of 1.22. The company has a current ratio of 1.39, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The company’s 50 day moving average is $33.53 and its 200-day moving average is $33.94. CSX has a 1-year low of $31.43 and a 1-year high of $40.12.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a net margin of 24.77% and a return on equity of 28.92%. Equities research analysts predict that CSX will post 1.83 earnings per share for the current fiscal year.

Institutional Trading of CSX

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. grew its position in CSX by 20.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 467,399 shares of the transportation company’s stock worth $16,139,000 after buying an additional 80,423 shares in the last quarter. Diversified Trust Co boosted its position in shares of CSX by 180.7% during the 4th quarter. Diversified Trust Co now owns 72,197 shares of the transportation company’s stock valued at $2,330,000 after acquiring an additional 46,473 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of CSX by 0.7% during the third quarter. Thrivent Financial for Lutherans now owns 3,374,499 shares of the transportation company’s stock worth $116,521,000 after purchasing an additional 24,430 shares in the last quarter. Carnegie Investment Counsel increased its position in shares of CSX by 1.4% in the fourth quarter. Carnegie Investment Counsel now owns 612,051 shares of the transportation company’s stock worth $19,751,000 after purchasing an additional 8,474 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in CSX by 3.4% in the third quarter. Principal Financial Group Inc. now owns 2,348,543 shares of the transportation company’s stock valued at $81,095,000 after purchasing an additional 77,488 shares in the last quarter. 73.57% of the stock is currently 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.