Jefferies Financial Group Cuts CSX (NASDAQ:CSX) Price Target to $38.00

CSX (NASDAQ:CSX) had its price objective decreased by Jefferies Financial Group from $40.00 to $38.00 in a research note issued to investors on Thursday, Benzinga reports. Jefferies Financial Group currently has a hold rating on the transportation company’s stock.

Other equities analysts have also recently issued reports about the stock. Benchmark raised their target price on shares of CSX from $38.00 to $40.00 and gave the company a buy rating in a research note on Wednesday, April 10th. Susquehanna boosted their price objective on shares of CSX from $42.00 to $44.00 and gave the stock a positive rating in a research note on Thursday, March 28th. Royal Bank of Canada reiterated a sector perform rating and issued a $34.00 target price on shares of CSX in a research note on Thursday, January 25th. Bank of America lowered their price target on CSX from $40.00 to $39.00 and set a buy rating on the stock in a research report on Thursday. Finally, TD Cowen raised their price objective on CSX from $32.00 to $36.00 and gave the company a market perform rating in a research report on Thursday, January 25th. Five research 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.com, the company has an average rating of Moderate Buy and an average target price of $37.72.

CSX Trading Down 0.1 %

Shares of NASDAQ:CSX opened at $34.34 on Thursday. The stock has a market capitalization of $67.22 billion, a PE ratio of 18.87, a price-to-earnings-growth ratio of 2.00 and a beta of 1.18. The company’s 50-day moving average price is $36.88 and its two-hundred day moving average price is $34.37. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.15 and a quick ratio of 0.91. CSX has a one year low of $29.03 and a one year high of $40.12.

CSX (NASDAQ:CSX) last released its earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.01. The business had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.66 billion. CSX had a return on equity of 29.58% and a net margin of 24.75%. CSX’s revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.48 earnings per share. On average, equities analysts forecast that CSX will post 1.96 EPS for the current fiscal year.

CSX Increases Dividend

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

Hedge Funds Weigh In On CSX

A number of hedge funds have recently bought and sold shares of CSX. Price T Rowe Associates Inc. MD increased its holdings in shares of CSX by 18.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 64,807,961 shares of the transportation company’s stock worth $2,246,893,000 after purchasing an additional 9,914,656 shares during the period. Soroban Capital Partners LP increased its stake in CSX by 0.8% during the 4th quarter. Soroban Capital Partners LP now owns 58,100,864 shares of the transportation company’s stock worth $1,799,965,000 after acquiring an additional 470,000 shares during the period. Capital International Investors raised its holdings in CSX by 14.3% in the 4th quarter. Capital International Investors now owns 40,353,078 shares of the transportation company’s stock valued at $1,399,104,000 after acquiring an additional 5,041,679 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of CSX by 1.8% during the 1st quarter. Geode Capital Management LLC now owns 39,236,265 shares of the transportation company’s stock valued at $1,172,727,000 after acquiring an additional 690,267 shares during the period. Finally, Lazard Asset Management LLC grew its holdings in shares of CSX by 10.4% during the 3rd quarter. Lazard Asset Management LLC now owns 29,191,044 shares of the transportation company’s stock worth $897,624,000 after purchasing an additional 2,748,738 shares in the last quarter. 73.57% of the stock is owned by institutional investors.

CSX Company Profile

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.