CSX (NASDAQ:CSX) Given New $35.00 Price Target at Royal Bank of Canada

CSX (NASDAQ:CSX) had its target price decreased by Royal Bank of Canada from $36.00 to $35.00 in a report published on Thursday morning, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the transportation company’s stock.

A number of other brokerages have also commented on CSX. Evercore ISI upgraded shares of CSX to a “strong-buy” rating in a research note on Tuesday, August 6th. Barclays cut their price target on shares of CSX from $41.00 to $40.00 and set an “overweight” rating for the company in a report on Wednesday, September 25th. JPMorgan Chase & Co. increased their price objective on shares of CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. Benchmark restated a “buy” rating and issued a $40.00 price target on shares of CSX in a research report on Wednesday, August 7th. Finally, Sanford C. Bernstein increased their price objective on shares of CSX from $35.00 to $36.00 and gave the stock a “market perform” rating in a research report on Monday, July 8th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.61.

CSX Stock Performance

Shares of CSX stock opened at $33.09 on Thursday. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.16 and a quick ratio of 1.01. The firm has a market cap of $64.69 billion, a P/E ratio of 18.18, a P/E/G ratio of 1.90 and a beta of 1.19. The firm has a 50 day simple moving average of $34.02 and a 200 day simple moving average of $33.99. CSX has a fifty-two week low of $29.03 and a fifty-two week high of $40.12.

CSX (NASDAQ:CSX) last announced its quarterly 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). CSX had a return on equity of 29.11% and a net margin of 24.52%. The firm had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.68 billion. During the same period in the prior year, the business earned $0.42 earnings per share. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. Sell-side analysts predict that CSX will post 1.93 earnings per share for the current fiscal year.

CSX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.45%. The ex-dividend date is Friday, November 29th. CSX’s dividend payout ratio is 26.37%.

Institutional Trading of CSX

Several hedge funds and other institutional investors have recently modified their holdings of CSX. Banque Cantonale Vaudoise increased its holdings in CSX by 149.1% during the 2nd quarter. Banque Cantonale Vaudoise now owns 17,208 shares of the transportation company’s stock worth $575,000 after acquiring an additional 10,301 shares during the period. Ascent Group LLC boosted its position in CSX by 559.7% during the 1st quarter. Ascent Group LLC now owns 58,779 shares of the transportation company’s stock valued at $2,179,000 after buying an additional 49,869 shares during the period. PFG Advisors boosted its position in CSX by 2.1% during the 1st quarter. PFG Advisors now owns 18,880 shares of the transportation company’s stock valued at $700,000 after buying an additional 387 shares during the period. Sei Investments Co. boosted its position in CSX by 4.2% during the 1st quarter. Sei Investments Co. now owns 597,426 shares of the transportation company’s stock valued at $22,146,000 after buying an additional 23,938 shares during the period. Finally, William B. Walkup & Associates Inc. purchased a new stake in CSX during the 2nd quarter valued at $867,000. 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.