CSX (NASDAQ:CSX) Given New $39.00 Price Target at BMO Capital Markets

CSX (NASDAQ:CSX) had its price objective reduced by BMO Capital Markets from $40.00 to $39.00 in a research note released on Thursday, Benzinga reports. They currently have an outperform rating on the transportation company’s stock.

CSX has been the topic of a number of other reports. Evercore ISI dropped their price objective on CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a research note on Thursday. JPMorgan Chase & Co. boosted their price target on CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. Stephens reiterated an “overweight” rating and issued a $42.00 price objective on shares of CSX in a research note on Tuesday, August 6th. Benchmark reiterated a “buy” rating and issued a $40.00 price objective on shares of CSX in a research note on Wednesday, August 7th. Finally, Royal Bank of Canada lowered their price objective on CSX from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research note on Thursday. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $38.61.

CSX Stock Performance

Shares of CSX stock opened at $33.09 on Thursday. The company has a market capitalization of $64.69 billion, a price-to-earnings ratio of 18.18, a P/E/G ratio of 1.90 and a beta of 1.19. CSX has a 1-year low of $29.03 and a 1-year high of $40.12. The company has a current ratio of 1.16, a quick ratio of 1.01 and a debt-to-equity ratio of 1.42. The stock’s fifty day simple moving average is $34.02 and its 200-day simple moving average is $33.99.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). CSX had a net margin of 24.52% and a return on equity of 29.11%. The firm had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.68 billion. During the same period in the previous year, the business posted $0.42 EPS. CSX’s revenue for the quarter was up 1.3% on a year-over-year basis. On average, sell-side analysts predict that CSX will post 1.93 earnings per share for the current fiscal year.

CSX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.48 annualized dividend and a yield of 1.45%. CSX’s dividend payout ratio (DPR) is currently 26.37%.

Institutional Investors Weigh In On CSX

Several hedge funds have recently bought and sold shares of the stock. Itau Unibanco Holding S.A. bought a new position in shares of CSX during the second quarter worth approximately $26,000. MFA Wealth Advisors LLC acquired a new position in CSX in the second quarter valued at $27,000. Financial Synergies Wealth Advisors Inc. bought a new stake in CSX during the first quarter valued at $29,000. Fairscale Capital LLC bought a new stake in CSX during the second quarter valued at $32,000. Finally, Strategic Financial Concepts LLC bought a new position in shares of CSX during the 2nd quarter worth about $33,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

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.