Royal Bank of Canada Issues Pessimistic Forecast for CSX (NASDAQ:CSX) Stock Price

CSX (NASDAQ:CSX) had its target price cut by investment analysts at Royal Bank of Canada from $31.00 to $30.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “sector perform” rating on the transportation company’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 7.59% from the company’s current price.

A number of other research analysts have also recently commented on CSX. Stephens reiterated an “overweight” rating and issued a $38.00 price target on shares of CSX in a research note on Friday, January 24th. Citigroup lowered their target price on CSX from $39.00 to $36.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Bank of America cut their target price on shares of CSX from $33.00 to $30.00 and set a “neutral” rating for the company in a research report on Thursday. Wells Fargo & Company lowered their target price on shares of CSX from $34.00 to $31.00 and set an “equal weight” rating on the stock in a report on Thursday, March 27th. Finally, Benchmark reiterated a “buy” rating and set a $35.00 price objective on shares of CSX in a research note on Thursday. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.10.

CSX Price Performance

CSX stock traded up $0.53 during trading on Thursday, hitting $27.88. The company had a trading volume of 9,329,036 shares, compared to its average volume of 12,728,050. The company has a fifty day moving average price of $30.29 and a two-hundred day moving average price of $32.60. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. CSX has a fifty-two week low of $26.22 and a fifty-two week high of $37.10. The company has a market cap of $52.55 billion, a P/E ratio of 15.58, a P/E/G ratio of 1.92 and a beta of 1.23.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Wednesday, April 16th. The transportation company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.05). CSX had a return on equity of 28.15% and a net margin of 23.95%. The company had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.53 billion. Equities research analysts expect that CSX will post 1.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CSX

Several institutional investors and hedge funds have recently bought and sold shares of CSX. Marshall & Sterling Wealth Advisors Inc. purchased a new position in CSX in the fourth quarter worth approximately $27,000. Accredited Wealth Management LLC purchased a new position in shares of CSX during the 4th quarter worth $29,000. Fourth Dimension Wealth LLC acquired a new stake in shares of CSX during the 4th quarter worth about $29,000. SBI Securities Co. Ltd. acquired a new position in CSX in the fourth quarter valued at about $31,000. Finally, Sierra Ocean LLC purchased a new position in CSX during the fourth quarter worth about $33,000. 73.57% of the stock is currently 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.