CSX (NASDAQ:CSX) Price Target Raised to $41.00

CSX (NASDAQ:CSX) had its target price upped by Susquehanna from $40.00 to $41.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have a positive rating on the transportation company’s stock.

CSX has been the subject of several other reports. JPMorgan Chase & Co. increased their price target on CSX from $39.00 to $42.00 and gave the company an overweight rating in a research report on Tuesday, August 6th. Bank of America downgraded CSX from a buy rating to a neutral rating and set a $37.00 price objective for the company. in a report on Monday, July 8th. Royal Bank of Canada reissued a sector perform rating and issued a $36.00 target price on shares of CSX in a research note on Tuesday, August 6th. Stephens reaffirmed an overweight rating and set a $42.00 price target on shares of CSX in a research report on Tuesday, August 6th. Finally, Wells Fargo & Company started 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. Seven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, CSX presently has an average rating of Moderate Buy and a consensus target price of $38.80.

CSX Price Performance

NASDAQ CSX opened at $34.00 on Wednesday. CSX has a 12-month low of $29.03 and a 12-month high of $40.12. The firm’s 50 day moving average is $33.58 and its 200-day moving average is $35.01. The company has a market capitalization of $66.47 billion, a PE ratio of 18.68, a price-to-earnings-growth ratio of 1.89 and a beta of 1.20. The company has a quick ratio of 1.00, a current ratio of 1.15 and a debt-to-equity ratio of 1.42.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Monday, August 5th. The transportation company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.01. CSX had a net margin of 24.75% and a return on equity of 29.58%. The firm had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.70 billion. During the same period in the previous year, the business earned $0.49 EPS. The company’s revenue was up .0% compared to the same quarter last year. Equities research analysts anticipate that CSX will post 1.94 earnings per share for the current fiscal year.

CSX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be issued 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 is Friday, August 30th. CSX’s dividend payout ratio is presently 26.37%.

Institutional Trading of CSX

Several hedge funds have recently added to or reduced their stakes in CSX. Western Wealth Management LLC boosted its position in CSX by 0.8% during the second quarter. Western Wealth Management LLC now owns 36,127 shares of the transportation company’s stock valued at $1,208,000 after acquiring an additional 295 shares during the last quarter. TriaGen Wealth Management LLC boosted its position in shares of CSX by 2.7% during the 2nd quarter. TriaGen Wealth Management LLC now owns 11,524 shares of the transportation company’s stock valued at $385,000 after purchasing an additional 300 shares in the last quarter. Miracle Mile Advisors LLC grew its stake in 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 period. Team Hewins LLC increased 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 worth $696,000 after purchasing an additional 306 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. lifted its stake in CSX by 0.3% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 120,244 shares of the transportation company’s stock valued at $4,169,000 after buying an additional 309 shares during the period. 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.