Stephens Trims CSX (NASDAQ:CSX) Target Price to $39.00

CSX (NASDAQ:CSX) had its target price cut by Stephens from $41.00 to $39.00 in a report released on Thursday, Benzinga reports. They currently have an overweight rating on the transportation company’s stock.

A number of other brokerages also recently weighed in on CSX. 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 report on Monday, July 8th. Wells Fargo & Company cut their price target on CSX from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Thursday. TD Cowen lowered their price objective on CSX from $36.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday. JPMorgan Chase & Co. raised their target price on CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. Finally, Citigroup initiated coverage on shares of CSX in a research report on Wednesday, October 9th. They set a “buy” rating and a $42.00 price target for the company. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $38.61.

CSX Trading Up 3.1 %

NASDAQ:CSX opened at $34.12 on Thursday. CSX has a 52 week low of $29.03 and a 52 week high of $40.12. The company has a quick ratio of 1.01, a current ratio of 1.16 and a debt-to-equity ratio of 1.42. The company has a market cap of $66.70 billion, a PE ratio of 18.75, a P/E/G ratio of 1.90 and a beta of 1.19. The business’s 50 day moving average is $34.02 and its two-hundred day moving average is $33.93.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The business had revenue of $3.62 billion during 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 business’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.42 EPS. On average, analysts predict that CSX will post 1.93 EPS for the current year.

CSX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, November 29th. This represents a $0.48 annualized dividend and a dividend yield of 1.41%. CSX’s dividend payout ratio (DPR) is 26.37%.

Hedge Funds Weigh In On CSX

Hedge funds have recently modified their holdings of the stock. Western Wealth Management LLC raised its holdings in CSX by 0.8% during the 2nd quarter. Western Wealth Management LLC now owns 36,127 shares of the transportation company’s stock worth $1,208,000 after buying an additional 295 shares during the period. TriaGen Wealth Management LLC boosted its stake in CSX by 2.7% in the 2nd quarter. TriaGen Wealth Management LLC now owns 11,524 shares of the transportation company’s stock worth $385,000 after purchasing an additional 300 shares during the period. Miracle Mile Advisors LLC grew its position in CSX by 0.3% during the 1st quarter. Miracle Mile Advisors LLC now owns 103,563 shares of the transportation company’s stock worth $3,839,000 after purchasing an additional 303 shares in the last quarter. Team Hewins LLC lifted its holdings in shares of CSX by 1.7% in the first quarter. Team Hewins LLC now owns 18,778 shares of the transportation company’s stock valued at $696,000 after purchasing an additional 306 shares in the last quarter. Finally, Jamison Private Wealth Management Inc. grew its holdings in shares of CSX by 33.7% during the third quarter. Jamison Private Wealth Management Inc. now owns 1,253 shares of the transportation company’s stock valued at $43,000 after buying an additional 316 shares in the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.

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.