Brokerages Set CSX Co. (NASDAQ:CSX) Target Price at $37.16

CSX Co. (NASDAQ:CSX) has earned a consensus recommendation of “Moderate Buy” from the nineteen analysts that are currently covering the stock, MarketBeat reports. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $37.16.

A number of equities research analysts have commented on CSX shares. Raymond James reissued an “outperform” rating and issued a $37.00 price objective (down previously from $38.00) on shares of CSX in a research note on Friday, January 24th. Loop Capital cut CSX from a “buy” rating to a “hold” rating and reduced their target price for the stock from $40.00 to $34.00 in a research report on Monday, February 3rd. Wells Fargo & Company cut their price objective on CSX from $36.00 to $34.00 and set an “equal weight” rating for the company in a report on Friday, January 24th. Benchmark reaffirmed a “buy” rating and set a $38.00 price target on shares of CSX in a research report on Monday, January 27th. Finally, Susquehanna reduced their price objective on CSX from $40.00 to $39.00 and set a “positive” rating for the company in a research report on Wednesday, January 8th.

CSX Trading Up 0.8 %

NASDAQ:CSX opened at $33.37 on Friday. The business’s 50-day simple moving average is $32.72 and its 200-day simple moving average is $33.81. CSX has a fifty-two week low of $31.43 and a fifty-two week high of $40.12. The stock has a market capitalization of $64.35 billion, a PE ratio of 18.64, a price-to-earnings-growth ratio of 1.91 and a beta of 1.23. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23.

CSX (NASDAQ:CSX) last released 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 net margin of 23.95% and a return on equity of 28.15%. Sell-side analysts expect that CSX will post 1.86 earnings per share for the current fiscal year.

CSX Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a $0.13 dividend. This is an increase from CSX’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a yield of 1.56%. CSX’s payout ratio is 26.82%.

Hedge Funds Weigh In On CSX

Large investors have recently bought and sold shares of the business. Valley Wealth Managers Inc. raised its stake in CSX by 177.8% in the third quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock worth $26,000 after buying an additional 480 shares in the last quarter. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of CSX during the fourth quarter worth $27,000. Morton Brown Family Wealth LLC acquired a new position in shares of CSX during the third quarter worth $31,000. SBI Securities Co. Ltd. acquired a new position in shares of CSX during the fourth quarter worth $31,000. Finally, Sierra Ocean LLC acquired a new position in shares of CSX during the fourth quarter worth $33,000. Institutional investors own 73.57% of the company’s stock.

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.