CSX (NASDAQ:CSX) Given New $39.00 Price Target at Bank of America

CSX (NASDAQ:CSX) had its price target trimmed by Bank of America from $40.00 to $39.00 in a report issued on Thursday, Benzinga reports. The firm currently has a buy rating on the transportation company’s stock.

A number of other research firms also recently commented on CSX. JPMorgan Chase & Co. reduced their target price on CSX from $40.00 to $39.00 and set an overweight rating on the stock in a report on Thursday, December 21st. Jefferies Financial Group initiated coverage on CSX in a research report on Monday, April 8th. They set a hold rating and a $40.00 price objective for the company. BMO Capital Markets raised their target price on CSX from $37.00 to $38.00 and gave the company an outperform rating in a research report on Thursday, January 25th. Stifel Nicolaus increased their target price on shares of CSX from $37.00 to $39.00 and gave the company a buy rating in a research report on Friday, April 12th. Finally, TD Cowen raised their target price on shares of CSX from $32.00 to $36.00 and gave the company a market perform rating in a research note on Thursday, January 25th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, CSX presently has an average rating of Moderate Buy and a consensus price target of $37.72.

CSX Stock Performance

Shares of NASDAQ:CSX opened at $34.39 on Thursday. The firm has a market capitalization of $67.32 billion, a PE ratio of 18.90, a P/E/G ratio of 1.97 and a beta of 1.18. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.05 and a quick ratio of 0.91. The business has a 50-day moving average of $36.93 and a two-hundred day moving average of $34.32. CSX has a 12 month low of $29.03 and a 12 month high of $40.12.

CSX (NASDAQ:CSX) last posted its earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. CSX had a return on equity of 29.88% and a net margin of 24.75%. The business had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.66 billion. During the same quarter last year, the firm earned $0.48 earnings per share. The company’s revenue for the quarter was down .8% compared to the same quarter last year. As a group, research analysts forecast that CSX will post 1.97 earnings per share for the current year.

CSX Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.40%. This is a positive change from CSX’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Wednesday, February 28th. CSX’s payout ratio is presently 26.37%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. West Tower Group LLC acquired a new position in CSX during the fourth quarter valued at $26,000. Fortitude Family Office LLC purchased a new position in CSX in the fourth quarter valued at about $27,000. Life Planning Partners Inc purchased a new position in CSX in the fourth quarter valued at about $27,000. Financial Synergies Wealth Advisors Inc. purchased a new position in CSX in the first quarter valued at about $29,000. Finally, Fortis Capital Advisors LLC purchased a new position in CSX in the fourth quarter valued at about $27,000. 73.57% of the stock is owned by institutional investors and hedge funds.

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.