CSX (NASDAQ:CSX) Shares Gap Down to $36.84

CSX Co. (NASDAQ:CSX)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $36.84, but opened at $35.86. CSX shares last traded at $36.26, with a volume of 2,425,579 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Benchmark reaffirmed a “buy” rating and set a $38.00 price target on shares of CSX in a research report on Thursday, January 25th. StockNews.com downgraded CSX from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Raymond James lifted their target price on CSX from $35.00 to $38.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 16th. BMO Capital Markets lifted their target price on CSX from $37.00 to $38.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Finally, Stifel Nicolaus reduced their target price on CSX from $38.00 to $37.00 and set a “buy” rating for the company in a research note on Thursday, January 25th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $36.24.

CSX Trading Up 2.0 %

The business has a 50-day moving average price of $36.84 and a two-hundred day moving average price of $33.76. The stock has a market capitalization of $72.17 billion, a P/E ratio of 20.02, a P/E/G ratio of 2.13 and a beta of 1.18. The company has a current ratio of 1.05, a quick ratio of 0.91 and a debt-to-equity ratio of 1.48.

CSX (NASDAQ:CSX) last released its earnings results on Tuesday, January 23rd. The transportation company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. The firm had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.63 billion. CSX had a return on equity of 30.52% and a net margin of 25.35%. The company’s revenue was down 1.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.49 EPS. On average, analysts expect that CSX Co. will post 1.96 EPS for the current fiscal year.

CSX Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.30%. This is an increase from CSX’s previous quarterly dividend of $0.11. The ex-dividend date was Wednesday, February 28th. CSX’s dividend payout ratio is presently 26.09%.

Hedge Funds Weigh In On CSX

A number of institutional investors have recently modified their holdings of CSX. Bornite Capital Management LP acquired a new position in CSX in the 1st quarter worth about $14,980,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of CSX by 6.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,158,544 shares of the transportation company’s stock valued at $230,637,000 after buying an additional 347,514 shares during the last quarter. Blair William & Co. IL grew its position in shares of CSX by 12.7% in the 1st quarter. Blair William & Co. IL now owns 122,334 shares of the transportation company’s stock valued at $4,581,000 after buying an additional 13,829 shares during the last quarter. Sei Investments Co. grew its position in shares of CSX by 4.5% in the 1st quarter. Sei Investments Co. now owns 195,872 shares of the transportation company’s stock valued at $7,361,000 after buying an additional 8,488 shares during the last quarter. Finally, Cetera Investment Advisers grew its position in shares of CSX by 16.8% in the 1st quarter. Cetera Investment Advisers now owns 71,521 shares of the transportation company’s stock valued at $2,678,000 after buying an additional 10,276 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

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.