CSX (NASDAQ:CSX) Price Target Raised to $31.00

CSX (NASDAQ:CSX) had its price target hoisted by Bank of America from $30.00 to $31.00 in a research note published on Monday,Benzinga reports. They currently have a neutral rating on the transportation company’s stock.

Several other analysts have also issued reports on CSX. Citigroup cut their price target on shares of CSX from $39.00 to $36.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. JPMorgan Chase & Co. cut their price target on shares of CSX from $38.00 to $37.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Susquehanna cut their price target on shares of CSX from $37.00 to $35.00 and set a “positive” rating for the company in a research report on Thursday, April 17th. Wells Fargo & Company cut their price target on shares of CSX from $31.00 to $28.00 and set an “equal weight” rating for the company in a research report on Thursday, April 17th. Finally, Benchmark reiterated a “buy” rating and set a $35.00 target price on shares of CSX in a report on Thursday, April 17th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, CSX presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.90.

CSX Stock Performance

NASDAQ CSX opened at $31.03 on Monday. CSX has a 52-week low of $26.22 and a 52-week high of $37.10. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. The company has a market capitalization of $58.29 billion, a P/E ratio of 17.34, a P/E/G ratio of 1.92 and a beta of 1.22. The company has a fifty day moving average of $28.76 and a 200-day moving average of $31.81.

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

CSX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date is Friday, May 30th. CSX’s payout ratio is currently 31.14%.

Hedge Funds Weigh In On CSX

Institutional investors have recently bought and sold shares of the stock. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of CSX during the fourth quarter valued at approximately $27,000. Accredited Wealth Management LLC bought a new position in shares of CSX during the fourth quarter valued at approximately $29,000. Fourth Dimension Wealth LLC bought a new position in shares of CSX during the fourth quarter valued at approximately $29,000. SBI Securities Co. Ltd. bought a new position in shares of CSX during the fourth quarter valued at approximately $31,000. Finally, Sierra Ocean LLC bought a new position in shares of CSX during the fourth quarter valued at approximately $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.