Analysts Set CSX Co. (NASDAQ:CSX) Price Target at $38.80

CSX Co. (NASDAQ:CSX) has received an average recommendation of “Moderate Buy” from the sixteen ratings firms that are presently covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $38.80.

Several research analysts recently weighed in on the company. Evercore ISI upgraded CSX to a “strong-buy” rating in a research note on Tuesday, August 6th. Sanford C. Bernstein upped their price objective on shares of CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a report on Monday, July 8th. Wells Fargo & Company assumed coverage on shares of CSX in a research report on Friday, June 7th. They issued an “equal weight” rating and a $35.00 price objective for the company. Benchmark reissued a “buy” rating and set a $40.00 target price on shares of CSX in a research report on Wednesday, August 7th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $40.00 price target on shares of CSX in a report on Tuesday, August 6th.

CSX Stock Performance

CSX stock opened at $34.80 on Tuesday. CSX has a one year low of $29.03 and a one year high of $40.12. The firm has a market cap of $68.03 billion, a price-to-earnings ratio of 19.12, a PEG ratio of 1.77 and a beta of 1.19. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.01 and a current ratio of 1.16. The firm has a 50-day simple moving average of $34.00 and a two-hundred day simple moving average of $34.42.

CSX (NASDAQ:CSX) last announced its earnings results on Monday, August 5th. The transportation company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.01. The company had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.70 billion. CSX had a net margin of 24.52% and a return on equity of 29.11%. CSX’s revenue was up .0% compared to the same quarter last year. During the same period last year, the firm earned $0.49 earnings per share. On average, equities analysts forecast that CSX will post 1.93 EPS for the current fiscal year.

CSX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a $0.12 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.48 annualized dividend and a dividend yield of 1.38%. CSX’s dividend payout ratio (DPR) is presently 26.37%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Western Wealth Management LLC raised its position in shares of CSX by 0.8% in the second quarter. Western Wealth Management LLC now owns 36,127 shares of the transportation company’s stock worth $1,208,000 after acquiring an additional 295 shares during the period. TriaGen Wealth Management LLC boosted its position in CSX by 2.7% during the second 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 in the last quarter. Miracle Mile Advisors LLC grew its holdings in CSX by 0.3% in the first quarter. Miracle Mile Advisors LLC now owns 103,563 shares of the transportation company’s stock valued at $3,839,000 after purchasing an additional 303 shares during the period. Team Hewins LLC grew its holdings in 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 during the period. Finally, Zions Bancorporation N.A. raised its stake in shares of CSX by 4.8% during the 2nd quarter. Zions Bancorporation N.A. now owns 6,985 shares of the transportation company’s stock worth $234,000 after buying an additional 322 shares during the period. 73.57% of the stock is 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.