CSX (NASDAQ:CSX) Price Target Lowered to $31.00 at Barclays

CSX (NASDAQ:CSX) had its target price lowered by Barclays from $35.00 to $31.00 in a research report released on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the transportation company’s stock.

Several other research firms have also weighed in on CSX. Benchmark reaffirmed a “buy” rating and set a $35.00 target price on shares of CSX in a report on Thursday. Stifel Nicolaus cut their price objective on shares of CSX from $37.00 to $34.00 and set a “buy” rating for the company in a report on Monday, April 14th. Royal Bank of Canada lowered their target price on shares of CSX from $34.00 to $33.00 and set a “sector perform” rating on the stock in a research note on Friday, January 24th. Bank of America cut their price target on CSX from $33.00 to $30.00 and set a “neutral” rating for the company in a research note on Thursday. Finally, Robert W. Baird lowered their price target on CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $33.95.

CSX Price Performance

NASDAQ:CSX opened at $27.64 on Thursday. The firm’s fifty day moving average is $30.07 and its two-hundred day moving average is $32.49. The firm has a market cap of $52.09 billion, a price-to-earnings ratio of 15.44, a PEG ratio of 1.92 and a beta of 1.23. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. CSX has a one year low of $26.22 and a one year high of $37.10.

CSX (NASDAQ:CSX) last issued its earnings results on Wednesday, April 16th. The transportation company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.05). The company had revenue of $3.42 billion during the quarter, compared to analysts’ expectations of $3.53 billion. CSX had a return on equity of 28.15% and a net margin of 23.95%. Research analysts expect that CSX will post 1.83 EPS for the current year.

CSX Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a $0.13 dividend. The ex-dividend date of this dividend was Friday, February 28th. This is an increase from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.88%. CSX’s dividend payout ratio (DPR) is 31.14%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Marshall & Sterling Wealth Advisors Inc. purchased a new position in CSX during the fourth quarter worth about $27,000. Accredited Wealth Management LLC acquired a new position in CSX in the fourth quarter valued at approximately $29,000. Fourth Dimension Wealth LLC acquired a new position in CSX in the fourth quarter valued at approximately $29,000. SBI Securities Co. Ltd. purchased a new position in CSX in the fourth quarter worth approximately $31,000. Finally, Sierra Ocean LLC acquired a new stake in CSX during the fourth quarter worth $33,000. 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.