CSX Co. (NASDAQ:CSX – Get Free Report) gapped down prior to trading on Friday after Susquehanna lowered their price target on the stock from $38.00 to $36.00. The stock had previously closed at $33.71, but opened at $31.94. Susquehanna currently has a neutral rating on the stock. CSX shares last traded at $32.02, with a volume of 4,097,009 shares trading hands.
Other analysts also recently issued research reports about the company. Credit Suisse Group reiterated an “outperform” rating and set a $37.00 price target on shares of CSX in a research note on Friday, April 21st. BMO Capital Markets boosted their price objective on CSX from $36.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday, April 21st. Citigroup cut their price target on CSX from $39.00 to $38.00 and set a “buy” rating for the company in a report on Friday. Bank of America upped their price target on CSX from $35.00 to $36.00 and gave the company a “buy” rating in a report on Friday, April 21st. Finally, TD Cowen upped their price target on CSX from $35.00 to $37.00 and gave the company a “market perform” rating in a report on Friday, April 21st. Nine investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.12.
Institutional Trading of CSX
Hedge funds and other institutional investors have recently modified their holdings of the company. Czech National Bank raised its stake in shares of CSX by 0.6% in the 1st quarter. Czech National Bank now owns 247,675 shares of the transportation company’s stock valued at $7,415,000 after purchasing an additional 1,586 shares during the period. TrueWealth Advisors LLC acquired a new stake in CSX during the first quarter worth approximately $289,000. Point72 Asset Management L.P. lifted its position in CSX by 3.9% during the fourth quarter. Point72 Asset Management L.P. now owns 4,994,715 shares of the transportation company’s stock worth $154,736,000 after acquiring an additional 186,588 shares during the last quarter. Wedbush Securities Inc. lifted its position in CSX by 8.7% during the fourth quarter. Wedbush Securities Inc. now owns 61,169 shares of the transportation company’s stock worth $1,895,000 after acquiring an additional 4,901 shares during the last quarter. Finally, Whittier Trust Co. lifted its position in CSX by 6.6% during the first quarter. Whittier Trust Co. now owns 108,458 shares of the transportation company’s stock worth $3,246,000 after acquiring an additional 6,695 shares during the last quarter. Institutional investors and hedge funds own 72.36% of the company’s stock.
CSX Price Performance
The company’s 50-day simple moving average is $32.72 and its 200-day simple moving average is $31.44. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.45 and a quick ratio of 1.28. The stock has a market capitalization of $65.14 billion, a price-to-earnings ratio of 15.86, a P/E/G ratio of 2.48 and a beta of 1.23.
CSX (NASDAQ:CSX – Get Free Report) last announced its quarterly earnings data on Thursday, July 20th. The transportation company reported $0.49 EPS for the quarter, meeting the consensus estimate of $0.49. The business had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.73 billion. CSX had a net margin of 28.35% and a return on equity of 33.01%. The company’s revenue was down 3.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.50 earnings per share. Research analysts forecast that CSX Co. will post 1.94 earnings per share for the current fiscal year.
CSX Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be paid a $0.11 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.44 annualized dividend and a dividend yield of 1.37%. CSX’s dividend payout ratio is 21.67%.
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 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.