Robert W. Baird Initiates Coverage on CSX (NASDAQ:CSX)

Robert W. Baird started coverage on shares of CSX (NASDAQ:CSX) in a report issued on Tuesday morning, MarketBeat.com reports. The firm issued an outperform rating and a $38.00 target price on the transportation company’s stock.

Several other research analysts have also issued reports on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of CSX in a research report on Friday, March 7th. They issued a “hold” rating and a $34.00 target price for the company. Bank of America upped their target price on shares of CSX from $33.00 to $35.00 and gave the stock a “neutral” rating in a research report on Friday, June 13th. Jefferies Financial Group cut their target price on shares of CSX from $37.00 to $33.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. Stifel Nicolaus cut their target price on shares of CSX from $37.00 to $34.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Finally, Royal Bank Of Canada cut their target price on shares of CSX from $31.00 to $30.00 and set a “sector perform” rating for the company in a research report on Thursday, April 17th. Nine investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $34.14.

CSX Stock Up 2.6%

CSX opened at $33.47 on Tuesday. The company has a fifty day moving average price of $30.86 and a 200-day moving average price of $31.04. The firm has a market capitalization of $62.88 billion, a P/E ratio of 20.04, a price-to-earnings-growth ratio of 2.86 and a beta of 1.23. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.88 and a quick ratio of 0.75. CSX has a one year low of $26.22 and a one year high of $37.10.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Wednesday, April 16th. The transportation company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.05). The firm had revenue of $3.42 billion for the quarter, compared to analysts’ expectations of $3.53 billion. CSX had a net margin of 22.66% and a return on equity of 26.42%. Equities research analysts expect that CSX will post 1.83 earnings per share for the current fiscal year.

CSX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend was Friday, May 30th. CSX’s payout ratio is currently 31.14%.

Hedge Funds Weigh In On CSX

A number of institutional investors have recently bought and sold shares of CSX. Wellington Management Group LLP boosted its holdings in CSX by 14.7% in the fourth quarter. Wellington Management Group LLP now owns 117,579 shares of the transportation company’s stock worth $3,794,000 after purchasing an additional 15,029 shares during the last quarter. CWA Asset Management Group LLC raised its holdings in CSX by 15.1% during the first quarter. CWA Asset Management Group LLC now owns 12,514 shares of the transportation company’s stock valued at $368,000 after acquiring an additional 1,642 shares during the period. Dynamic Advisor Solutions LLC raised its holdings in CSX by 9.8% during the first quarter. Dynamic Advisor Solutions LLC now owns 38,757 shares of the transportation company’s stock valued at $1,141,000 after acquiring an additional 3,458 shares during the period. Farther Finance Advisors LLC lifted its stake in CSX by 61.4% in the 1st quarter. Farther Finance Advisors LLC now owns 14,154 shares of the transportation company’s stock worth $418,000 after purchasing an additional 5,382 shares in the last quarter. Finally, Cercano Management LLC purchased a new stake in shares of CSX during the 4th quarter valued at about $4,869,000. 73.57% of the stock is owned by institutional investors.

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.