CSX (NASDAQ:CSX) PT Lowered to $35.00 at TD Cowen

CSX (NASDAQ:CSX) had its price objective lowered by TD Cowen from $36.00 to $35.00 in a research report report published on Thursday morning, MarketBeat.com reports. TD Cowen currently has a hold rating on the transportation company’s stock.

CSX has been the topic of a number of other research reports. Barclays lowered their price objective on shares of CSX from $41.00 to $40.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 25th. Citigroup assumed coverage on CSX in a report on Wednesday, October 9th. They set a “buy” rating and a $42.00 price target on the stock. Stephens reaffirmed an “overweight” rating and issued a $42.00 price objective on shares of CSX in a report on Tuesday, August 6th. Sanford C. Bernstein increased their target price on CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a report on Monday, July 8th. Finally, Susquehanna raised their target price on CSX from $41.00 to $42.00 and gave the stock a “positive” rating in a research report on Wednesday, October 2nd. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, CSX presently has an average rating of “Moderate Buy” and an average target price of $38.61.

CSX Stock Up 3.1 %

CSX stock opened at $34.12 on Thursday. The stock has a market capitalization of $66.70 billion, a P/E ratio of 18.75, a P/E/G ratio of 1.90 and a beta of 1.19. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.16 and a quick ratio of 1.01. CSX has a 1-year low of $29.03 and a 1-year high of $40.12. The business has a fifty day moving average price of $34.02 and a 200-day moving average price of $33.95.

CSX (NASDAQ:CSX) last issued its earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The business had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.68 billion. CSX had a return on equity of 29.11% and a net margin of 24.52%. CSX’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period last year, the firm posted $0.42 EPS. Equities analysts forecast that CSX will post 1.93 earnings per share for the current fiscal year.

CSX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a $0.12 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.48 dividend on an annualized basis and a yield of 1.41%. CSX’s payout ratio is presently 26.37%.

Hedge Funds Weigh In On CSX

Large investors have recently made changes to their positions in the business. SageView Advisory Group LLC boosted its position in shares of CSX by 13.2% during the fourth quarter. SageView Advisory Group LLC now owns 7,374 shares of the transportation company’s stock worth $264,000 after acquiring an additional 858 shares during the last quarter. Wedmont Private Capital boosted its holdings in shares of CSX by 7.9% during the 1st quarter. Wedmont Private Capital now owns 15,138 shares of the transportation company’s stock valued at $544,000 after purchasing an additional 1,109 shares during the last quarter. Park Avenue Securities LLC grew its position in shares of CSX by 6.8% during the first quarter. Park Avenue Securities LLC now owns 76,256 shares of the transportation company’s stock valued at $2,827,000 after purchasing an additional 4,823 shares in the last quarter. RFG Advisory LLC increased its holdings in shares of CSX by 6.3% in the first quarter. RFG Advisory LLC now owns 19,887 shares of the transportation company’s stock worth $737,000 after purchasing an additional 1,177 shares during the last quarter. Finally, First Affirmative Financial Network purchased a new stake in shares of CSX in the first quarter worth about $210,000. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

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.