Analysts Set CSX Corporation (NASDAQ:CSX) PT at $37.36

CSX Corporation (NASDAQ:CSX) has earned a consensus recommendation of “Moderate Buy” from the twenty-three brokerages that are covering the firm, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold recommendation, sixteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $37.9545.

A number of equities research analysts have commented on the company. Bank of America decreased their price target on CSX from $42.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, September 24th. BMO Capital Markets lowered CSX from an “outperform” rating to a “market perform” rating and set a $38.00 price objective for the company. in a research report on Monday, August 18th. Robert W. Baird cut their price objective on CSX from $44.00 to $39.00 and set an “outperform” rating for the company in a research report on Friday, September 26th. Jefferies Financial Group restated a “buy” rating on shares of CSX in a research report on Monday. Finally, Royal Bank Of Canada raised their price objective on CSX from $39.00 to $41.00 and gave the company an “outperform” rating in a research report on Tuesday.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its position in CSX by 8.7% in the third quarter. GAMMA Investing LLC now owns 46,528 shares of the transportation company’s stock worth $1,652,000 after acquiring an additional 3,722 shares in the last quarter. Praxis Investment Management Inc. boosted its position in shares of CSX by 34.8% during the third quarter. Praxis Investment Management Inc. now owns 29,639 shares of the transportation company’s stock valued at $1,052,000 after buying an additional 7,649 shares during the period. Captrust Financial Advisors boosted its position in shares of CSX by 0.8% during the second quarter. Captrust Financial Advisors now owns 405,828 shares of the transportation company’s stock valued at $13,242,000 after buying an additional 3,162 shares during the period. WFA of San Diego LLC purchased a new position in shares of CSX during the second quarter valued at approximately $28,000. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of CSX by 3.2% during the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 74,410 shares of the transportation company’s stock valued at $2,428,000 after buying an additional 2,281 shares during the period. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Price Performance

Shares of CSX stock opened at $36.01 on Friday. CSX has a one year low of $26.22 and a one year high of $37.25. The stock’s fifty day moving average is $34.23 and its 200 day moving average is $31.98. The stock has a market cap of $67.13 billion, a P/E ratio of 22.23, a P/E/G ratio of 2.75 and a beta of 1.29. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.63 and a current ratio of 0.77.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Wednesday, July 23rd. The transportation company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. The business had revenue of $3.57 billion for the quarter, compared to analysts’ expectations of $3.57 billion. CSX had a return on equity of 25.48% and a net margin of 21.92%.The business’s quarterly revenue was down 3.5% on a year-over-year basis. During the same period last year, the firm earned $0.49 earnings per share. Sell-side analysts anticipate that CSX will post 1.83 earnings per share for the current year.

CSX Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were given a $0.13 dividend. The ex-dividend date was Friday, August 29th. This represents a $0.52 annualized dividend and a yield of 1.4%. CSX’s dividend payout ratio (DPR) is currently 32.10%.

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.