CSX (NASDAQ:CSX) Sets New 52-Week Low – Here’s Why

CSX Co. (NASDAQ:CSX) hit a new 52-week low on Tuesday . The company traded as low as $30.16 and last traded at $30.18, with a volume of 774493 shares. The stock had previously closed at $30.65.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CSX. Jefferies Financial Group upgraded CSX from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a report on Friday, January 10th. Deutsche Bank Aktiengesellschaft began coverage on CSX in a report on Friday, March 7th. They issued a “hold” rating and a $34.00 price objective for the company. Benchmark reiterated a “buy” rating and issued a $38.00 price objective on shares of CSX in a report on Monday, January 27th. Raymond James reiterated an “outperform” rating and issued a $37.00 price objective (down from $38.00) on shares of CSX in a report on Friday, January 24th. Finally, Loop Capital cut CSX from a “buy” rating to a “hold” rating and cut their price objective for the stock from $40.00 to $34.00 in a report on Monday, February 3rd. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $37.00.

CSX Price Performance

The business has a 50-day simple moving average of $32.34 and a 200 day simple moving average of $33.55. The firm has a market cap of $55.99 billion, a P/E ratio of 16.51, a price-to-earnings-growth ratio of 1.92 and a beta of 1.25. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86.

CSX (NASDAQ:CSX) last announced its earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) 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, analysts anticipate that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a $0.13 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.52 annualized dividend and a dividend yield of 1.76%. This is a positive change from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio is currently 29.05%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Avior Wealth Management LLC increased its position in CSX by 2.5% during the 3rd quarter. Avior Wealth Management LLC now owns 11,790 shares of the transportation company’s stock valued at $407,000 after buying an additional 293 shares in the last quarter. Rehmann Capital Advisory Group increased its position in CSX by 1.3% during the 3rd quarter. Rehmann Capital Advisory Group now owns 23,990 shares of the transportation company’s stock valued at $830,000 after buying an additional 306 shares in the last quarter. Associated Banc Corp increased its position in CSX by 0.6% during the 3rd quarter. Associated Banc Corp now owns 55,534 shares of the transportation company’s stock valued at $1,918,000 after buying an additional 310 shares in the last quarter. Joel Isaacson & Co. LLC increased its position in CSX by 2.4% during the 4th quarter. Joel Isaacson & Co. LLC now owns 13,036 shares of the transportation company’s stock valued at $421,000 after buying an additional 310 shares in the last quarter. Finally, Patrick M Sweeney & Associates Inc. increased its position in CSX by 1.0% during the 4th quarter. Patrick M Sweeney & Associates Inc. now owns 31,827 shares of the transportation company’s stock valued at $1,027,000 after buying an additional 313 shares in the last quarter. 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.