Deutsche Bank Aktiengesellschaft Begins Coverage on CSX (NASDAQ:CSX)

Deutsche Bank Aktiengesellschaft assumed coverage on shares of CSX (NASDAQ:CSX) in a research report sent to investors on Friday morning, Marketbeat Ratings reports. The firm issued a hold rating and a $34.00 price objective on the transportation company’s stock.

CSX has been the topic of several other reports. Citigroup cut their target price on shares of CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Royal Bank of Canada reduced their price objective on CSX from $34.00 to $33.00 and set a “sector perform” rating for the company in a research note on Friday, January 24th. Susquehanna decreased their price objective on CSX from $40.00 to $39.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th. Robert W. Baird dropped their target price on CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. Finally, Jefferies Financial Group upgraded shares of CSX from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a report on Friday, January 10th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, CSX presently has a consensus rating of “Moderate Buy” and an average price target of $37.00.

CSX Trading Up 1.1 %

NASDAQ:CSX opened at $31.26 on Friday. The stock has a fifty day simple moving average of $32.48 and a 200 day simple moving average of $33.62. The firm has a market capitalization of $60.28 billion, a price-to-earnings ratio of 17.46, a price-to-earnings-growth ratio of 1.92 and a beta of 1.23. CSX has a 1-year low of $30.55 and a 1-year high of $38.35. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43.

CSX (NASDAQ:CSX) last announced its earnings results on Thursday, January 23rd. The transportation company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a return on equity of 28.15% and a net margin of 23.95%. Sell-side analysts forecast that CSX will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be issued a $0.13 dividend. This is a positive change from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 1.66%. The ex-dividend date is Friday, February 28th. CSX’s payout ratio is 29.05%.

Hedge Funds Weigh In On CSX

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CSX. State Street Corp lifted its position in CSX by 0.6% during the 3rd quarter. State Street Corp now owns 82,250,713 shares of the transportation company’s stock worth $2,840,117,000 after acquiring an additional 455,258 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of CSX by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 41,633,333 shares of the transportation company’s stock worth $1,339,555,000 after purchasing an additional 726,507 shares during the last quarter. Invesco Ltd. lifted its position in shares of CSX by 13.5% during the 4th quarter. Invesco Ltd. now owns 25,103,077 shares of the transportation company’s stock worth $810,076,000 after purchasing an additional 2,977,212 shares during the last quarter. Fisher Asset Management LLC boosted its stake in CSX by 1.2% during the 4th quarter. Fisher Asset Management LLC now owns 24,956,467 shares of the transportation company’s stock valued at $805,345,000 after purchasing an additional 299,536 shares during the period. Finally, Norges Bank acquired a new stake in CSX in the 4th quarter valued at approximately $780,194,000. 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.