CSX (NASDAQ:CSX) Price Target Lowered to $34.00 at Raymond James

CSX (NASDAQ:CSX) had its target price trimmed by Raymond James from $37.00 to $34.00 in a research note released on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the transportation company’s stock.

Several other analysts have also issued reports on CSX. Robert W. Baird cut their target price on CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. UBS Group lowered their target price on CSX from $39.00 to $36.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. Susquehanna reduced their price target on CSX from $39.00 to $37.00 and set a “positive” rating on the stock in a research report on Thursday, March 27th. Jefferies Financial Group lowered their price objective on CSX from $37.00 to $33.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. Finally, BMO Capital Markets cut their target price on shares of CSX from $40.00 to $38.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.70.

CSX Price Performance

CSX stock opened at $28.01 on Friday. The business has a 50-day simple moving average of $30.58 and a 200 day simple moving average of $32.71. CSX has a 52 week low of $26.22 and a 52 week high of $37.10. The stock has a market cap of $52.79 billion, a price-to-earnings ratio of 15.65, a PEG ratio of 1.92 and a beta of 1.23. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a return on equity of 28.15% and a net margin of 23.95%. On average, research analysts forecast that CSX will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $0.13 dividend. This is an increase from CSX’s previous quarterly dividend of $0.12. The ex-dividend date was Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a yield of 1.86%. CSX’s dividend payout ratio is 29.05%.

Institutional Trading of CSX

A number of hedge funds have recently modified their holdings of the business. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of CSX in the 4th quarter worth about $27,000. Accredited Wealth Management LLC purchased a new stake in CSX in the fourth quarter worth about $29,000. Fourth Dimension Wealth LLC bought a new position in shares of CSX during the fourth quarter valued at approximately $29,000. SBI Securities Co. Ltd. purchased a new position in shares of CSX during the fourth quarter valued at approximately $31,000. Finally, Sierra Ocean LLC bought a new stake in shares of CSX in the 4th quarter worth approximately $33,000. Institutional investors own 73.57% of the company’s stock.

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.