Shares of CSX Co. (NASDAQ:CSX – Get Free Report) have been given an average recommendation of “Moderate Buy” by the twenty research firms that are currently covering the firm, MarketBeat.com reports. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $37.00.
A number of brokerages recently issued reports on CSX. Robert W. Baird cut their target price on CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Loop Capital downgraded CSX from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $40.00 to $34.00 in a research report on Monday, February 3rd. Stephens reiterated an “overweight” rating and set a $38.00 target price on shares of CSX in a research report on Friday, January 24th. Wells Fargo & Company reduced their target price on CSX from $36.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Friday, January 24th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on CSX in a research note on Friday, March 7th. They issued a “hold” rating and a $34.00 target price for the company.
Read Our Latest Stock Analysis on CSX
CSX Price Performance
CSX (NASDAQ:CSX – Get Free Report) last issued its earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates 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 EPS for the current year.
CSX Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $0.13 dividend. This is an increase from CSX’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a yield of 1.73%. CSX’s dividend payout ratio is presently 29.05%.
Institutional Trading of CSX
Hedge funds have recently made changes to their positions in the company. Diversified Trust Co grew its stake in shares of CSX by 180.7% in the 4th quarter. Diversified Trust Co now owns 72,197 shares of the transportation company’s stock valued at $2,330,000 after buying an additional 46,473 shares during the period. Marshall Financial Group LLC purchased a new position in shares of CSX during the 4th quarter worth approximately $1,084,000. Thrivent Financial for Lutherans boosted its position in shares of CSX by 0.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 3,374,499 shares of the transportation company’s stock worth $116,521,000 after purchasing an additional 24,430 shares during the period. Carnegie Investment Counsel boosted its position in shares of CSX by 1.4% during the 4th quarter. Carnegie Investment Counsel now owns 612,051 shares of the transportation company’s stock worth $19,751,000 after purchasing an additional 8,474 shares during the period. Finally, Nomura Asset Management Co. Ltd. boosted its position in shares of CSX by 6.8% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 653,025 shares of the transportation company’s stock worth $22,549,000 after purchasing an additional 41,547 shares during the period. Hedge funds and other institutional investors own 73.57% of the company’s stock.
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.
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