TD Cowen Trims CSX (NASDAQ:CSX) Target Price to $35.00

CSX (NASDAQ:CSX) had its price objective decreased by TD Cowen from $36.00 to $35.00 in a report released on Thursday, MarketBeat reports. TD Cowen currently has a hold rating on the transportation company’s stock.

A number of other analysts also recently issued reports on CSX. Susquehanna lifted their price objective on shares of CSX from $41.00 to $42.00 and gave the company a “positive” rating in a report on Wednesday, October 2nd. Royal Bank of Canada cut their price target on shares of CSX from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research report on Thursday. Bank of America downgraded shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a research note on Monday, July 8th. Benchmark reaffirmed a “buy” rating and issued a $40.00 target price on shares of CSX in a research report on Wednesday, August 7th. Finally, Evercore ISI reduced their price target on CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a research report on Thursday. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, CSX currently has a consensus rating of “Moderate Buy” and an average target price of $38.61.

CSX Price Performance

Shares of NASDAQ CSX opened at $34.12 on Thursday. The company has a fifty day moving average price of $34.02 and a 200 day moving average price of $33.93. The firm has a market cap of $66.70 billion, a PE ratio of 18.75, a PEG ratio of 1.90 and a beta of 1.19. The company has a current ratio of 1.16, a quick ratio of 1.01 and a debt-to-equity ratio of 1.42. CSX has a 1-year low of $29.03 and a 1-year high of $40.12.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.02). The firm had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.68 billion. CSX had a return on equity of 29.11% and a net margin of 24.52%. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.42 earnings per share. Research analysts predict that CSX will post 1.93 earnings per share for the current fiscal year.

CSX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.48 annualized dividend and a dividend yield of 1.41%. CSX’s dividend payout ratio is currently 26.37%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CSX. Interval Partners LP lifted its holdings in shares of CSX by 849.0% during the second quarter. Interval Partners LP now owns 5,118,751 shares of the transportation company’s stock worth $171,222,000 after buying an additional 4,579,344 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in CSX in the 2nd quarter valued at about $116,430,000. M&G Plc acquired a new position in shares of CSX during the 1st quarter worth approximately $126,089,000. Wulff Hansen & CO. raised its position in shares of CSX by 3,243.0% in the second quarter. Wulff Hansen & CO. now owns 2,192,246 shares of the transportation company’s stock valued at $73,331,000 after buying an additional 2,126,668 shares in the last quarter. Finally, Bank of Montreal Can grew its position in CSX by 38.7% during the second quarter. Bank of Montreal Can now owns 6,749,827 shares of the transportation company’s stock worth $225,917,000 after buying an additional 1,884,998 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.