Brokerages Set CSX Co. (NASDAQ:CSX) Price Target at $39.19

CSX Co. (NASDAQ:CSX) has earned an average rating of “Moderate Buy” from the seventeen ratings firms that are currently covering the company, MarketBeat.com reports. Six analysts have rated the stock with a hold recommendation, ten have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $39.19.

CSX has been the topic of a number of recent analyst reports. Citigroup began coverage on shares of CSX in a research note on Wednesday, October 9th. They set a “buy” rating and a $42.00 price target on the stock. Barclays dropped their target price on shares of CSX from $41.00 to $40.00 and set an “overweight” rating for the company in a report on Wednesday, September 25th. Susquehanna boosted their price target on CSX from $41.00 to $42.00 and gave the stock a “positive” rating in a research note on Wednesday, October 2nd. Evercore ISI raised CSX to a “strong-buy” rating in a research note on Tuesday, August 6th. Finally, Bank of America cut 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.

Hedge Funds Weigh In On CSX

A number of institutional investors have recently modified their holdings of the company. Itau Unibanco Holding S.A. purchased a new stake in CSX in the 2nd quarter worth approximately $26,000. MFA Wealth Advisors LLC purchased a new stake in shares of CSX in the second quarter valued at $27,000. Financial Synergies Wealth Advisors Inc. acquired a new position in CSX in the first quarter valued at $29,000. Fairscale Capital LLC purchased a new position in CSX during the second quarter worth about $32,000. Finally, Strategic Financial Concepts LLC acquired a new stake in CSX in the 2nd quarter worth about $33,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Price Performance

Shares of CSX opened at $35.47 on Friday. The company has a current ratio of 1.16, a quick ratio of 1.01 and a debt-to-equity ratio of 1.42. The stock’s 50 day moving average is $34.05 and its two-hundred day moving average is $33.99. CSX has a twelve month low of $29.03 and a twelve month high of $40.12. The firm has a market capitalization of $69.34 billion, a PE ratio of 19.49, a P/E/G ratio of 1.90 and a beta of 1.19.

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

CSX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.12 per share. The ex-dividend date is Friday, November 29th. This represents a $0.48 annualized dividend and a dividend yield of 1.35%. CSX’s dividend payout ratio is currently 26.37%.

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.