Wells Fargo & Company Cuts CSX (NASDAQ:CSX) Price Target to $31.00

CSX (NASDAQ:CSX) had its price objective reduced by Wells Fargo & Company from $34.00 to $31.00 in a report issued on Thursday,Benzinga reports. They currently have an equal weight rating on the transportation company’s stock.

Other analysts have also issued reports about the company. Susquehanna lowered 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. Raymond James reiterated an “outperform” rating and set a $37.00 price target (down previously from $38.00) on shares of CSX in a research report on Friday, January 24th. Benchmark restated a “buy” rating and issued a $38.00 price objective on shares of CSX in a report on Monday, January 27th. Deutsche Bank Aktiengesellschaft assumed coverage on CSX in a research note on Friday, March 7th. They issued a “hold” rating and a $34.00 price target on the stock. Finally, Loop Capital cut CSX from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $40.00 to $34.00 in a research note on Monday, February 3rd. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $36.75.

CSX Trading Down 2.7 %

CSX opened at $29.11 on Thursday. CSX has a 1-year low of $28.98 and a 1-year high of $37.10. The stock has a market capitalization of $54.86 billion, a PE ratio of 16.26, a PEG ratio of 1.92 and a beta of 1.25. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The firm has a 50-day moving average price of $31.75 and a two-hundred day moving average price of $33.20.

CSX (NASDAQ:CSX) last issued its quarterly 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%. As a group, equities analysts anticipate that CSX will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a $0.13 dividend. This is an increase from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 1.79%. The ex-dividend date was Friday, February 28th. CSX’s dividend payout ratio (DPR) is 29.05%.

Institutional Trading of CSX

A number of hedge funds have recently made changes to their positions in the business. Marshall & Sterling Wealth Advisors Inc. acquired a new position in CSX in the 4th quarter valued at about $27,000. Accredited Wealth Management LLC acquired a new position in shares of CSX in the fourth quarter valued at approximately $29,000. Fourth Dimension Wealth LLC bought a new position in shares of CSX during the fourth quarter worth approximately $29,000. SBI Securities Co. Ltd. acquired a new stake in CSX during the 4th quarter worth approximately $31,000. Finally, Sierra Ocean LLC bought a new stake in CSX in the 4th quarter valued at $33,000. 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.