CSX (NASDAQ:CSX) Price Target Cut to $40.00 by Analysts at Susquehanna

CSX (NASDAQ:CSX) had its target price lowered by Susquehanna from $42.00 to $40.00 in a research note published on Thursday morning, Benzinga reports. Susquehanna currently has a positive rating on the transportation company’s stock.

Several other research firms have also issued reports on CSX. Bank of America lowered CSX from a “buy” rating to a “neutral” rating and set a $37.00 price target on the stock. in a research report on Monday, July 8th. Stephens restated an “overweight” rating and issued a $42.00 price target on shares of CSX in a research report 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. Royal Bank of Canada dropped 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. Finally, Sanford C. Bernstein raised their price objective on CSX from $35.00 to $36.00 and gave the stock a “market perform” rating in a research note on Monday, July 8th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $38.61.

CSX Stock Down 6.7 %

Shares of CSX opened at $33.09 on Thursday. The firm has a market capitalization of $64.69 billion, a price-to-earnings ratio of 18.18, a PEG ratio of 1.90 and a beta of 1.19. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.01 and a current ratio of 1.16. The business’s fifty day moving average price is $34.02 and its two-hundred day moving average price is $33.99. CSX has a 52 week low of $29.03 and a 52 week high of $40.12.

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

CSX Dividend Announcement

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

Hedge Funds Weigh In On CSX

Several hedge funds have recently modified their holdings of CSX. SageView Advisory Group LLC grew its holdings in shares of CSX by 13.2% in the 4th quarter. SageView Advisory Group LLC now owns 7,374 shares of the transportation company’s stock valued at $264,000 after acquiring an additional 858 shares in the last quarter. Wedmont Private Capital grew its holdings in CSX by 7.9% during the first quarter. Wedmont Private Capital now owns 15,138 shares of the transportation company’s stock worth $544,000 after purchasing an additional 1,109 shares during the period. Park Avenue Securities LLC grew its holdings in CSX by 6.8% during the first quarter. Park Avenue Securities LLC now owns 76,256 shares of the transportation company’s stock worth $2,827,000 after purchasing an additional 4,823 shares during the period. RFG Advisory LLC grew its holdings in CSX by 6.3% during 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 period. Finally, First Affirmative Financial Network bought a new position in CSX during the first quarter worth about $210,000. 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.