CSX (NASDAQ:CSX) PT Lowered to $37.00 at Stifel Nicolaus

CSX (NASDAQ:CSX) had its price objective trimmed by Stifel Nicolaus from $39.00 to $37.00 in a research note published on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the transportation company’s stock.

CSX has been the subject of several other reports. Evercore ISI decreased their target price on shares of CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a research note on Thursday. Loop Capital decreased their target price on shares of CSX from $43.00 to $42.00 and set a “buy” rating for the company in a research note on Thursday. Susquehanna reduced their price objective on shares of CSX from $42.00 to $40.00 and set a “positive” rating for the company in a research report on Thursday. TD Cowen dropped their target price on shares of CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday. Finally, Benchmark reaffirmed a “buy” rating and issued a $40.00 price target on shares of CSX in a research note on Wednesday, August 7th. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, CSX currently has a consensus rating of “Moderate Buy” and an average target price of $38.61.

CSX Stock Up 3.1 %

CSX stock opened at $34.12 on Thursday. The firm’s fifty day simple moving average is $34.02 and its 200-day simple moving average is $33.93. The company has a market capitalization of $66.70 billion, a P/E ratio of 18.75, a price-to-earnings-growth ratio of 1.90 and a beta of 1.19. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.16 and a quick ratio of 1.01. CSX has a 12 month low of $29.03 and a 12 month high of $40.12.

CSX (NASDAQ:CSX) last posted its earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share (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 firm had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.68 billion. During the same quarter in the prior year, the firm earned $0.42 earnings per share. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. As a group, equities research analysts forecast that CSX will post 1.93 earnings per share for the current year.

CSX Announces Dividend

The business 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. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s dividend payout ratio is presently 26.37%.

Hedge Funds Weigh In On CSX

A number of institutional investors and hedge funds have recently made changes to their positions in CSX. Western Wealth Management LLC lifted its stake in CSX by 0.8% in the second quarter. Western Wealth Management LLC now owns 36,127 shares of the transportation company’s stock valued at $1,208,000 after buying an additional 295 shares during the last quarter. TriaGen Wealth Management LLC lifted its stake in CSX by 2.7% in the second quarter. TriaGen Wealth Management LLC now owns 11,524 shares of the transportation company’s stock valued at $385,000 after buying an additional 300 shares during the last quarter. Miracle Mile Advisors LLC raised its stake in shares of CSX by 0.3% during the first 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 during the last quarter. Team Hewins LLC raised its stake in shares of CSX by 1.7% during the first quarter. Team Hewins LLC now owns 18,778 shares of the transportation company’s stock worth $696,000 after purchasing an additional 306 shares during the last quarter. Finally, Jamison Private Wealth Management Inc. raised its stake 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 worth $43,000 after purchasing an additional 316 shares during the last quarter. 73.57% of the stock is 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.