CSX (NASDAQ:CSX) PT Lowered to $39.00 at BMO Capital Markets

CSX (NASDAQ:CSX) had its target price decreased by BMO Capital Markets from $40.00 to $39.00 in a report released on Thursday, Benzinga reports. BMO Capital Markets currently has an outperform rating on the transportation company’s stock.

Several other analysts also recently issued reports on CSX. Sanford C. Bernstein raised their price target on CSX from $35.00 to $36.00 and gave the stock a “market perform” rating in a report on Monday, July 8th. Benchmark reiterated a “buy” rating and set a $40.00 price target on shares of CSX in a research report on Wednesday, August 7th. JPMorgan Chase & Co. boosted their price target on CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. Royal Bank of Canada reduced their price target on CSX from $36.00 to $35.00 and set a “sector perform” rating for the company in a research report on Thursday. Finally, Citigroup began coverage on CSX in a research report on Wednesday, October 9th. They set a “buy” rating and a $42.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, CSX presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.61.

CSX Price Performance

Shares of NASDAQ CSX opened at $34.12 on Thursday. The company has a quick ratio of 1.01, a current ratio of 1.16 and a debt-to-equity ratio of 1.42. The business has a 50 day moving average price of $34.02 and a two-hundred day moving average price of $33.93. CSX has a fifty-two week low of $29.03 and a fifty-two week high of $40.12. The firm has a market cap of $66.70 billion, a PE ratio of 18.75, a price-to-earnings-growth ratio of 1.90 and a beta of 1.19.

CSX (NASDAQ:CSX) last released its earnings results on Wednesday, October 16th. The transportation company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The firm had revenue of $3.62 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the business earned $0.42 EPS. Sell-side analysts expect that CSX will post 1.93 earnings per share for the current fiscal year.

CSX Announces Dividend

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Itau Unibanco Holding S.A. purchased a new position in CSX in the second quarter valued at about $26,000. Financial Synergies Wealth Advisors Inc. bought a new stake in shares of CSX during the 1st quarter worth about $29,000. MFA Wealth Advisors LLC bought a new stake in shares of CSX during the 2nd quarter worth about $27,000. Fairscale Capital LLC bought a new stake in shares of CSX during the 2nd quarter worth about $32,000. Finally, Valued Wealth Advisors LLC boosted its stake in shares of CSX by 172.7% during the 1st quarter. Valued Wealth Advisors LLC now owns 938 shares of the transportation company’s stock worth $35,000 after acquiring an additional 594 shares in the last quarter. Hedge funds and other 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.