CSX (NASDAQ:CSX) PT Lowered to $40.00 at Barclays

CSX (NASDAQ:CSX) had its target price cut by Barclays from $41.00 to $40.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have an overweight rating on the transportation company’s stock.

A number of other analysts have also weighed in on the stock. Sanford C. Bernstein upped their price objective on shares of CSX from $35.00 to $36.00 and gave the stock a market perform rating in a research note on Monday, July 8th. Benchmark reiterated a buy rating and issued a $40.00 target price on shares of CSX in a report on Wednesday, August 7th. JPMorgan Chase & Co. boosted their target price on shares of CSX from $39.00 to $42.00 and gave the stock an overweight rating in a report on Tuesday, August 6th. Bank of America downgraded shares of CSX from a buy rating to a neutral rating and set a $37.00 target price for the company. in a report on Monday, July 8th. Finally, Wells Fargo & Company began coverage on shares of CSX in a report on Friday, June 7th. They issued an equal weight rating and a $35.00 target price for the company. Seven analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, CSX presently has a consensus rating of Moderate Buy and a consensus price target of $38.93.

CSX Stock Up 1.9 %

NASDAQ:CSX opened at $34.53 on Wednesday. CSX has a 1-year low of $29.03 and a 1-year high of $40.12. The company has a 50-day moving average of $33.92 and a 200 day moving average of $34.28. The firm has a market cap of $67.50 billion, a PE ratio of 19.21, a price-to-earnings-growth ratio of 1.91 and a beta of 1.19. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.16 and a quick ratio of 1.01.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Monday, August 5th. The transportation company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. CSX had a net margin of 24.52% and a return on equity of 29.11%. The company had revenue of $3.70 billion during the quarter, compared to analyst estimates of $3.70 billion. During the same period in the prior year, the firm earned $0.49 earnings per share. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. As a group, research analysts anticipate that CSX will post 1.93 EPS for the current fiscal year.

CSX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a $0.12 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.48 annualized dividend and a yield of 1.39%. CSX’s dividend payout ratio (DPR) is presently 26.37%.

Hedge Funds Weigh In On CSX

Hedge funds and other institutional investors have recently bought and sold shares of the business. Itau Unibanco Holding S.A. acquired a new position in CSX in the 2nd quarter worth approximately $26,000. MFA Wealth Advisors LLC acquired a new position in CSX in the 2nd quarter worth approximately $27,000. Financial Synergies Wealth Advisors Inc. acquired a new position in CSX in the 1st quarter worth approximately $29,000. Fairscale Capital LLC purchased a new stake in CSX in the 2nd quarter worth approximately $32,000. Finally, Strategic Financial Concepts LLC purchased a new stake in CSX in the 2nd quarter worth approximately $33,000. Institutional investors and hedge funds 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.