CSX (NASDAQ:CSX) Price Target Cut to $31.00 by Analysts at Barclays

CSX (NASDAQ:CSX) had its target price cut by Barclays from $35.00 to $31.00 in a report issued on Thursday morning,Benzinga reports. They currently have an overweight rating on the transportation company’s stock.

A number of other equities research analysts have also recently commented on the company. Royal Bank of Canada reduced their price objective on CSX from $34.00 to $33.00 and set a “sector perform” rating for the company in a research note on Friday, January 24th. Evercore ISI reduced their price target on shares of CSX from $35.00 to $33.00 and set an “outperform” rating for the company in a research report on Thursday. Jefferies Financial Group lowered their price objective on shares of CSX from $37.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. BMO Capital Markets reduced their price objective on shares of CSX from $36.00 to $35.00 and set an “outperform” rating for the company in a report on Thursday. Finally, Raymond James decreased their target price on shares of CSX from $37.00 to $34.00 and set an “outperform” rating for the company in a research report on Friday, April 11th. Seven equities 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, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $33.95.

CSX Stock Performance

Shares of CSX stock opened at $27.64 on Thursday. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. CSX has a 52 week low of $26.22 and a 52 week high of $37.10. The firm has a 50 day moving average of $30.18 and a 200-day moving average of $32.55. The company has a market cap of $52.09 billion, a price-to-earnings ratio of 15.44, a price-to-earnings-growth ratio of 1.92 and a beta of 1.23.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.05). The company had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.53 billion. CSX had a net margin of 23.95% and a return on equity of 28.15%. On average, equities analysts forecast that CSX will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date was Friday, February 28th. This is an increase from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio is 31.14%.

Institutional Investors Weigh In On CSX

A number of hedge funds have recently made changes to their positions in the business. Joel Isaacson & Co. LLC increased its holdings in CSX by 2.4% during the fourth quarter. Joel Isaacson & Co. LLC now owns 13,036 shares of the transportation company’s stock worth $421,000 after buying an additional 310 shares during the last quarter. Patrick M Sweeney & Associates Inc. raised its holdings in shares of CSX by 1.0% in the 4th quarter. Patrick M Sweeney & Associates Inc. now owns 31,827 shares of the transportation company’s stock worth $1,027,000 after purchasing an additional 313 shares during the period. West Branch Capital LLC lifted its stake in CSX by 3.3% in the fourth quarter. West Branch Capital LLC now owns 10,317 shares of the transportation company’s stock valued at $333,000 after purchasing an additional 332 shares during the last quarter. Alhambra Investment Management LLC lifted its stake in CSX by 4.3% in the fourth quarter. Alhambra Investment Management LLC now owns 8,292 shares of the transportation company’s stock valued at $268,000 after purchasing an additional 342 shares during the last quarter. Finally, Trust Point Inc. grew its holdings in CSX by 2.6% during the fourth quarter. Trust Point Inc. now owns 13,722 shares of the transportation company’s stock valued at $443,000 after purchasing an additional 344 shares during the period. 73.57% of the stock is currently 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.