CSX (NASDAQ:CSX) Price Target Lowered to $36.00 at UBS Group

CSX (NASDAQ:CSX) had its price objective reduced by UBS Group from $39.00 to $36.00 in a research report report published on Wednesday,Benzinga reports. They currently have a buy rating on the transportation company’s stock.

Several other research analysts have also recently weighed in on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of CSX in a research note on Friday, March 7th. They set a “hold” rating and a $34.00 price target on the stock. JPMorgan Chase & Co. lowered their target price on CSX from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. Loop Capital cut CSX from a “buy” rating to a “hold” rating and reduced their price target for the stock from $40.00 to $34.00 in a research report on Monday, February 3rd. Stephens reaffirmed an “overweight” rating and set a $38.00 price objective on shares of CSX in a research report on Friday, January 24th. Finally, Barclays reduced their target price on shares of CSX from $38.00 to $35.00 and set an “overweight” rating for the company in a report on Wednesday. Seven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, CSX presently has a consensus rating of “Moderate Buy” and an average target price of $36.20.

CSX Stock Performance

Shares of CSX opened at $29.74 on Wednesday. The firm has a market capitalization of $56.05 billion, a P/E ratio of 16.61, a PEG ratio of 1.92 and a beta of 1.22. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23. CSX has a one year low of $28.78 and a one year high of $37.10. The business has a fifty day moving average of $31.54 and a 200 day moving average of $33.12.

CSX (NASDAQ:CSX) last released its quarterly earnings results 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, sell-side analysts anticipate that CSX will post 1.83 EPS for the current year.

CSX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a $0.13 dividend. This is an increase from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date was Friday, February 28th. CSX’s payout ratio is currently 29.05%.

Institutional Trading of CSX

Large investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of CSX in the fourth quarter valued at $780,194,000. Ameriprise Financial Inc. grew its stake in shares of CSX by 89.7% in the 4th quarter. Ameriprise Financial Inc. now owns 20,856,567 shares of the transportation company’s stock worth $673,025,000 after buying an additional 9,863,587 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of CSX by 40.5% in the 4th quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company’s stock worth $753,507,000 after buying an additional 6,730,316 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of CSX by 471.9% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 6,748,661 shares of the transportation company’s stock worth $217,808,000 after buying an additional 5,568,624 shares during the last quarter. Finally, Fiduciary Management Inc. WI purchased a new stake in shares of CSX during the 4th quarter valued at about $178,259,000. Institutional investors own 73.57% of the company’s stock.

CSX Company Profile

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.