Royal Bank of Canada Trims CSX (NASDAQ:CSX) Target Price to $35.00

CSX (NASDAQ:CSX) had its target price trimmed by Royal Bank of Canada from $36.00 to $35.00 in a research report report published on Thursday morning, MarketBeat reports. The firm currently has a sector perform rating on the transportation company’s stock.

Other equities research analysts also recently issued research reports about the company. Sanford C. Bernstein boosted their price target on CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a research report on Monday, July 8th. BMO Capital Markets reiterated an “outperform” rating and issued a $40.00 price target on shares of CSX in a research note on Tuesday, August 6th. Evercore ISI upgraded CSX to a “strong-buy” rating in a research note on Tuesday, August 6th. Stephens restated an “overweight” rating and set a $42.00 price objective on shares of CSX in a research note on Tuesday, August 6th. Finally, JPMorgan Chase & Co. increased their price target on CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 6th. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.61.

CSX Stock Performance

CSX stock opened at $34.12 on Thursday. The firm has a market capitalization of $66.70 billion, a P/E ratio of 18.75, a PEG ratio of 1.90 and a beta of 1.19. The stock has a fifty day moving average price of $34.02 and a 200 day moving average price of $33.93. CSX has a 52 week low of $29.03 and a 52 week high of $40.12. 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 (NASDAQ:CSX) last released its earnings results on Wednesday, October 16th. The transportation company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.02). CSX had a net margin of 24.52% and a return on equity of 29.11%. The business had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.68 billion. During the same quarter in the previous year, the company posted $0.42 earnings per share. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. Equities research analysts anticipate that CSX will post 1.93 earnings per share for the current year.

CSX Dividend Announcement

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

Hedge Funds Weigh In On CSX

Several hedge funds have recently modified their holdings of CSX. Interval Partners LP grew its holdings in shares of CSX by 849.0% in the 2nd quarter. Interval Partners LP now owns 5,118,751 shares of the transportation company’s stock worth $171,222,000 after acquiring an additional 4,579,344 shares during the last quarter. Manning & Napier Advisors LLC acquired a new stake in CSX during the second quarter valued at $116,430,000. M&G Plc acquired a new stake in CSX during the first quarter valued at $126,089,000. Wulff Hansen & CO. boosted its position in CSX by 3,243.0% during the second quarter. Wulff Hansen & CO. now owns 2,192,246 shares of the transportation company’s stock valued at $73,331,000 after purchasing an additional 2,126,668 shares during the last quarter. Finally, Bank of Montreal Can boosted 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 valued at $225,917,000 after purchasing an additional 1,884,998 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.

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.