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

CSX (NASDAQ:CSX) had its target price upped by Barclays from $40.00 to $41.00 in a research note released on Wednesday morning,Benzinga reports. Barclays currently has an overweight rating on the transportation company’s stock.

Other equities research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. raised their target price on CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. Stifel Nicolaus lowered their price objective on shares of CSX from $39.00 to $37.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. Benchmark reissued a “buy” rating and set a $40.00 target price on shares of CSX in a research note on Wednesday, August 7th. Stephens reduced their price target on shares of CSX from $41.00 to $39.00 and set an “overweight” rating for the company in a report on Thursday, October 17th. Finally, BMO Capital Markets dropped their price objective on shares of CSX from $40.00 to $39.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $38.78.

CSX Stock Down 1.4 %

Shares of CSX opened at $35.13 on Wednesday. The stock’s 50-day moving average price is $34.32 and its two-hundred day moving average price is $33.89. CSX has a 12 month low of $30.86 and a 12 month high of $40.12. The company has a market capitalization of $67.75 billion, a PE ratio of 18.89, a PEG ratio of 2.32 and a beta of 1.19. The company has a current ratio of 1.39, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The company had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.68 billion. CSX had a return on equity of 28.92% and a net margin of 24.77%. CSX’s revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.42 earnings per share. On average, analysts anticipate that CSX will post 1.84 EPS for the current year.

CSX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s dividend payout ratio (DPR) is presently 25.81%.

Hedge Funds Weigh In On CSX

A number of hedge funds and other institutional investors have recently modified their holdings of CSX. Valley Wealth Managers Inc. grew its position in CSX by 177.8% during the third quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock valued at $26,000 after buying an additional 480 shares during the period. Itau Unibanco Holding S.A. purchased a new position in CSX in the second quarter valued at about $26,000. MFA Wealth Advisors LLC purchased a new position in CSX in the second quarter valued at about $27,000. Fairscale Capital LLC bought a new position in shares of CSX during the 2nd quarter valued at approximately $32,000. Finally, Morton Brown Family Wealth LLC purchased a new stake in shares of CSX during the 3rd quarter worth approximately $31,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

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.