Stephens Trims CSX (NASDAQ:CSX) Target Price to $39.00

CSX (NASDAQ:CSX) had its target price decreased by Stephens from $41.00 to $39.00 in a research note issued to investors on Thursday morning, Benzinga reports. Stephens currently has an overweight rating on the transportation company’s stock.

Other research analysts have also issued reports about the stock. Stifel Nicolaus decreased their price target on shares of CSX from $39.00 to $37.00 and set a “buy” rating for the company in a research note on Thursday. Loop Capital dropped their price target on CSX from $43.00 to $42.00 and set a “buy” rating on the stock in a research report on Thursday. Benchmark reiterated a “buy” rating and set a $40.00 price objective on shares of CSX in a research note on Wednesday, August 7th. Citigroup started coverage on CSX in a report on Wednesday, October 9th. They issued a “buy” rating and a $42.00 price objective for the company. Finally, TD Cowen cut their price objective on CSX from $36.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $38.61.

CSX Price Performance

Shares of NASDAQ CSX opened at $34.12 on Thursday. 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 has a 1 year low of $29.03 and a 1 year high of $40.12. The company’s 50-day moving average is $34.02 and its 200 day moving average is $33.95. The stock has a market capitalization of $66.70 billion, a P/E ratio of 18.75, a P/E/G ratio of 1.90 and a beta of 1.19.

CSX (NASDAQ:CSX) last announced its earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.02). CSX had a return on equity of 29.11% and a net margin of 24.52%. The firm had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.68 billion. During the same period in the prior year, the company posted $0.42 EPS. The firm’s revenue was up 1.3% on a year-over-year basis. On average, sell-side analysts expect that CSX will post 1.93 earnings per share for the current year.

CSX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s dividend payout ratio (DPR) is presently 26.37%.

Institutional Investors Weigh In On CSX

Several large investors have recently made changes to their positions in CSX. Itau Unibanco Holding S.A. purchased a new position in CSX during the 2nd quarter valued at approximately $26,000. MFA Wealth Advisors LLC bought a new position in shares of CSX during the 2nd quarter valued at approximately $27,000. Financial Synergies Wealth Advisors Inc. purchased a new position in shares of CSX in the first quarter valued at $29,000. Fairscale Capital LLC bought a new stake in CSX in the second quarter worth $32,000. Finally, Strategic Financial Concepts LLC purchased a new stake in CSX during the second quarter valued at $33,000. 73.57% of the stock is owned by institutional investors.

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.