CSX (NASDAQ:CSX) Price Target Lowered to $39.00 at Credit Suisse Group

CSX (NASDAQ:CSXGet Rating) had its target price reduced by Credit Suisse Group to $39.00 in a report published on Tuesday, Stock Target Advisor reports.

A number of other brokerages have also commented on CSX. Stephens upped their price target on CSX from $34.00 to $35.00 and gave the stock an overweight rating in a report on Thursday, July 21st. Susquehanna Bancshares cut their target price on CSX from $36.00 to $35.00 and set a positive rating on the stock in a research note on Thursday, July 21st. Cowen cut their target price on CSX from $39.00 to $37.00 in a research note on Thursday, July 21st. UBS Group cut their target price on CSX to $38.00 in a research note on Friday, July 22nd. Finally, Loop Capital raised CSX from a hold rating to a buy rating and set a $38.00 target price on the stock in a research note on Thursday, July 21st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $36.42.

CSX Trading Down 1.4 %

NASDAQ:CSX opened at $29.47 on Tuesday. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.16 and a quick ratio of 1.01. CSX has a fifty-two week low of $27.59 and a fifty-two week high of $38.63. The stock’s 50-day moving average is $31.91 and its two-hundred day moving average is $32.67. The stock has a market cap of $63.10 billion, a PE ratio of 16.56, a price-to-earnings-growth ratio of 1.54 and a beta of 1.21.

CSX (NASDAQ:CSXGet Rating) last announced its quarterly earnings results on Wednesday, July 20th. The transportation company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.03. The business had revenue of $3.82 billion during the quarter, compared to analyst estimates of $3.67 billion. CSX had a return on equity of 29.07% and a net margin of 28.24%. The firm’s revenue was up 27.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.40 EPS. As a group, equities research analysts forecast that CSX will post 1.89 earnings per share for the current fiscal year.

CSX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $0.40 dividend on an annualized basis and a yield of 1.36%. CSX’s dividend payout ratio (DPR) is presently 22.47%.

Hedge Funds Weigh In On CSX

Hedge funds and other institutional investors have recently modified their holdings of the business. M Holdings Securities Inc. bought a new stake in CSX during the 1st quarter worth $771,000. Envestnet Asset Management Inc. lifted its holdings in CSX by 8.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 1,018,634 shares of the transportation company’s stock worth $38,148,000 after buying an additional 76,499 shares during the period. MBL Wealth LLC acquired a new position in CSX during the 1st quarter worth about $223,000. KBC Group NV lifted its holdings in CSX by 14.4% during the 1st quarter. KBC Group NV now owns 183,451 shares of the transportation company’s stock worth $6,870,000 after buying an additional 23,127 shares during the period. Finally, Thrivent Financial for Lutherans lifted its holdings in CSX by 2.4% during the 4th quarter. Thrivent Financial for Lutherans now owns 1,858,620 shares of the transportation company’s stock worth $69,722,000 after buying an additional 43,570 shares during the period. Institutional investors own 73.60% of the company’s stock.

About CSX

(Get Rating)

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 transports chemicals, agricultural and food products, automotive, minerals, 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.

Further Reading

Analyst Recommendations for CSX (NASDAQ:CSX)

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