CSX (NASDAQ:CSX) Given New $38.00 Price Target at Jefferies Financial Group

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

Other research analysts have also issued reports about the stock. TD Cowen increased their price objective on shares of CSX from $32.00 to $36.00 and gave the stock a market perform rating in a report on Thursday, January 25th. Stifel Nicolaus increased their price objective on shares of CSX from $37.00 to $39.00 and gave the stock a buy rating in a report on Friday, April 12th. Benchmark increased their price objective on shares of CSX from $38.00 to $40.00 and gave the stock a buy rating in a report on Wednesday, April 10th. StockNews.com lowered shares of CSX from a buy rating to a hold rating in a report on Wednesday, January 31st. Finally, Royal Bank of Canada restated a sector perform rating and issued a $34.00 price target on shares of CSX in a report on Thursday, January 25th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $38.00.

CSX Price Performance

CSX stock opened at $34.34 on Thursday. CSX has a 12-month low of $29.03 and a 12-month high of $40.12. The stock has a market capitalization of $67.22 billion, a P/E ratio of 18.87, a P/E/G ratio of 2.00 and a beta of 1.18. The firm’s 50-day moving average is $36.88 and its two-hundred day moving average is $34.40. 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 (NASDAQ:CSX) last released its quarterly 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. CSX had a net margin of 24.75% and a return on equity of 29.58%. The company had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.66 billion. During the same period last year, the company earned $0.48 EPS. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. Equities analysts predict that CSX will post 1.95 earnings per share for the current year.

CSX Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were paid a dividend of $0.12 per share. The ex-dividend date was Wednesday, February 28th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.40%. This is a positive change from CSX’s previous quarterly dividend of $0.11. CSX’s dividend payout ratio (DPR) is currently 26.37%.

Institutional Trading of CSX

A number of hedge funds have recently made changes to their positions in the company. Value Partners Investments Inc. acquired a new stake in shares of CSX during the third quarter worth approximately $1,172,000. Morgan Stanley grew its position in shares of CSX by 3.1% during the third quarter. Morgan Stanley now owns 24,340,514 shares of the transportation company’s stock worth $748,471,000 after buying an additional 739,411 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of CSX by 3,241.9% during the fourth quarter. International Assets Investment Management LLC now owns 235,304 shares of the transportation company’s stock worth $8,158,000 after buying an additional 228,263 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of CSX by 5.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 723,344 shares of the transportation company’s stock worth $25,078,000 after buying an additional 34,730 shares in the last quarter. Finally, Sapient Capital LLC acquired a new stake in shares of CSX during the fourth quarter worth approximately $1,279,000. Hedge funds and other institutional investors 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.