Loop Capital Cuts CSX (NASDAQ:CSX) Price Target to $42.00

CSX (NASDAQ:CSX) had its price objective reduced by Loop Capital from $43.00 to $42.00 in a report issued on Thursday morning, Benzinga reports. They currently have a buy rating on the transportation company’s stock.

Other research analysts have also recently issued research reports about the stock. Barclays decreased their price target on shares of CSX from $41.00 to $40.00 and set an “overweight” rating for the company in a report on Wednesday, September 25th. Royal Bank of Canada cut their price target on shares of CSX from $36.00 to $35.00 and set a “sector perform” rating on the stock in a report on Thursday. Benchmark restated a “buy” rating and set a $40.00 price objective on shares of CSX in a research note on Wednesday, August 7th. BMO Capital Markets cut their price objective on shares of CSX from $40.00 to $39.00 and set an “outperform” rating on the stock in a research note on Thursday. Finally, Citigroup initiated coverage on shares of CSX in a research report on Wednesday, October 9th. They set a “buy” rating and a $42.00 target price for the company. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $38.61.

CSX Stock Performance

Shares of CSX opened at $34.12 on Thursday. The company has a current ratio of 1.16, a quick ratio of 1.01 and a debt-to-equity ratio of 1.42. The firm 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 12 month low of $29.03 and a 12 month high of $40.12. The stock has a fifty day moving average price of $34.02 and a 200-day moving average price of $33.95.

CSX (NASDAQ:CSX) last released its quarterly 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 business had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.68 billion. CSX had a net margin of 24.52% and a return on equity of 29.11%. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.42 earnings per share. Equities research analysts predict that CSX will post 1.93 earnings per share for the current fiscal year.

CSX Dividend Announcement

The firm 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 dividend payout ratio (DPR) is presently 26.37%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Itau Unibanco Holding S.A. purchased a new stake in CSX in the 2nd quarter worth $26,000. Financial Synergies Wealth Advisors Inc. purchased a new stake in shares of CSX during the first quarter worth about $29,000. MFA Wealth Advisors LLC acquired a new position in shares of CSX during the 2nd quarter worth about $27,000. Fairscale Capital LLC purchased a new position in CSX in the 2nd quarter valued at about $32,000. Finally, Valued Wealth Advisors LLC boosted its holdings in CSX by 172.7% in the 1st quarter. Valued Wealth Advisors LLC now owns 938 shares of the transportation company’s stock worth $35,000 after buying an additional 594 shares during the last quarter. 73.57% of the stock is owned by institutional investors and hedge funds.

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.