CSX (NASDAQ:CSX) Price Target Lowered to $31.00 at Wells Fargo & Company

CSX (NASDAQ:CSX) had its target price trimmed by Wells Fargo & Company from $34.00 to $31.00 in a research report released on Thursday,Benzinga reports. The brokerage currently has an equal weight rating on the transportation company’s stock.

Other equities research analysts have also recently issued research reports about the company. Royal Bank of Canada lowered their price target on CSX from $34.00 to $33.00 and set a “sector perform” rating on the stock in a report on Friday, January 24th. Jefferies Financial Group raised CSX from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a report on Friday, January 10th. Robert W. Baird cut their price target on CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Raymond James reiterated an “outperform” rating and issued a $37.00 price objective (down from $38.00) on shares of CSX in a research report on Friday, January 24th. Finally, Susquehanna dropped their target price on shares of CSX from $40.00 to $39.00 and set a “positive” rating for the company in a report on Wednesday, January 8th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, CSX has an average rating of “Moderate Buy” and an average price target of $36.75.

CSX Price Performance

CSX stock opened at $29.92 on Thursday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. CSX has a one year low of $28.98 and a one year high of $37.18. The company has a market cap of $56.69 billion, a P/E ratio of 16.72, a price-to-earnings-growth ratio of 1.92 and a beta of 1.25. The business has a fifty day moving average of $31.82 and a two-hundred day moving average of $33.23.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a net margin of 23.95% and a return on equity of 28.15%. As a group, analysts predict that CSX will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a $0.13 dividend. This is a positive change from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend was Friday, February 28th. CSX’s dividend payout ratio is presently 29.05%.

Institutional Trading of CSX

Hedge funds have recently added to or reduced their stakes in the business. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of CSX in the fourth quarter worth approximately $27,000. Accredited Wealth Management LLC purchased a new position in CSX during the fourth quarter worth approximately $29,000. Fourth Dimension Wealth LLC acquired a new position in shares of CSX in the 4th quarter valued at $29,000. SBI Securities Co. Ltd. purchased a new stake in shares of CSX during the 4th quarter valued at $31,000. Finally, Sierra Ocean LLC acquired a new stake in shares of CSX during the 4th quarter worth $33,000. 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.