CSX Co. (NASDAQ:CSX) Receives $33.86 Average PT from Brokerages

Shares of CSX Co. (NASDAQ:CSX - Get Free Report) have earned a consensus rating of "Moderate Buy" from the twenty analysts that are covering the firm, Marketbeat.com reports. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $33.86.

A number of brokerages recently weighed in on CSX. Stephens reissued an "overweight" rating and issued a $38.00 price target on shares of CSX in a research report on Friday, January 24th. Bank of America reduced their target price on CSX from $33.00 to $30.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. UBS Group cut their price target on CSX from $36.00 to $34.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Royal Bank of Canada decreased their price objective on CSX from $31.00 to $30.00 and set a "sector perform" rating on the stock in a report on Thursday, April 17th. Finally, Susquehanna reduced their price objective on CSX from $37.00 to $35.00 and set a "positive" rating on the stock in a research note on Thursday, April 17th.

CSX Price Performance

NASDAQ CSX traded up $0.59 during mid-day trading on Wednesday, hitting $28.70. The stock had a trading volume of 11,525,727 shares, compared to its average volume of 12,691,017. The firm's 50 day moving average is $29.11 and its 200 day moving average is $32.05. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23. The stock has a market capitalization of $53.91 billion, a price-to-earnings ratio of 16.03, a PEG ratio of 1.92 and a beta of 1.22. CSX has a twelve month low of $26.22 and a twelve month high of $37.10.

CSX (NASDAQ:CSX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.05). CSX had a net margin of 23.95% and a return on equity of 28.15%. The firm had revenue of $3.42 billion during the quarter, compared to analysts' expectations of $3.53 billion. Equities research analysts forecast that CSX will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend was Friday, February 28th. This is an increase from CSX's previous quarterly dividend of $0.12. CSX's payout ratio is 31.14%.

Hedge Funds Weigh In On CSX

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank acquired a new position in CSX in the 4th quarter valued at approximately $780,194,000. Ameriprise Financial Inc. raised its position in CSX by 89.7% during the 4th quarter. Ameriprise Financial Inc. now owns 20,856,567 shares of the transportation company's stock worth $673,025,000 after purchasing an additional 9,863,587 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in CSX by 40.5% during the 4th quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company's stock worth $753,507,000 after buying an additional 6,730,316 shares during the period. Mitsubishi UFJ Trust & Banking Corp grew its position in shares of CSX by 471.9% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 6,748,661 shares of the transportation company's stock valued at $217,808,000 after buying an additional 5,568,624 shares during the last quarter. Finally, Fiduciary Management Inc. WI acquired a new stake in shares of CSX in the fourth quarter valued at about $178,259,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

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.