Wells Fargo & Company Trims CSX (NASDAQ:CSX) Target Price to $34.00

CSX (NASDAQ:CSX) had its price target reduced by Wells Fargo & Company from $35.00 to $34.00 in a research report sent to investors on Thursday morning, MarketBeat Ratings reports. They currently have an equal weight rating on the transportation company’s stock.

CSX has been the subject of several other research reports. Loop Capital dropped their target price on shares of CSX from $43.00 to $42.00 and set a “buy” rating for the company in a report on Thursday. Bank of America cut 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. BMO Capital Markets decreased their target price on CSX from $40.00 to $39.00 and set an “outperform” rating on the stock in a research note on Thursday. Stephens restated an “overweight” rating and set a $42.00 target price on shares of CSX in a report on Tuesday, August 6th. Finally, Evercore ISI cut their price target on shares of CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a research note on Thursday. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $38.61.

CSX Stock Performance

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. CSX has a twelve month low of $29.03 and a twelve month high of $40.12. The stock has a fifty day simple moving average of $34.02 and a 200-day simple moving average of $33.93. 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 (NASDAQ:CSX) last announced its earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.02). The company had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.68 billion. CSX had a return on equity of 29.11% and a net margin of 24.52%. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period last year, the business earned $0.42 EPS. Equities analysts anticipate that CSX will post 1.93 earnings per share for the current year.

CSX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a dividend of $0.12 per share. 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 dividend payout ratio (DPR) is currently 26.37%.

Institutional Trading of CSX

Several institutional investors and hedge funds have recently bought and sold shares of CSX. Price T Rowe Associates Inc. MD boosted its stake in shares of CSX by 0.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 65,251,716 shares of the transportation company’s stock valued at $2,418,883,000 after buying an additional 443,755 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of CSX by 6.6% in the second quarter. Bank of New York Mellon Corp now owns 17,133,857 shares of the transportation company’s stock valued at $573,128,000 after purchasing an additional 1,060,204 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of CSX by 9.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 12,421,862 shares of the transportation company’s stock worth $415,466,000 after purchasing an additional 1,060,617 shares in the last quarter. Bank of Montreal Can raised its position in shares of CSX by 38.7% during the 2nd quarter. Bank of Montreal Can now owns 6,749,827 shares of the transportation company’s stock worth $225,917,000 after purchasing an additional 1,884,998 shares during the last quarter. Finally, Interval Partners LP lifted its stake in CSX by 849.0% in the 2nd 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 in 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.