Raymond James Financial reaffirmed their outperform rating on shares of CSX (NASDAQ:CSX - Free Report) in a report issued on Tuesday morning, Marketbeat.com reports. The brokerage currently has a $37.00 target price on the transportation company's stock, up from their previous target price of $33.00.
Several other research analysts have also commented on CSX. BMO Capital Markets reduced their price objective on shares of CSX from $36.00 to $35.00 and set an "outperform" rating for the company in a research note on Thursday, April 17th. Wells Fargo & Company boosted their price objective on shares of CSX from $28.00 to $35.00 and gave the stock an "equal weight" rating in a research note on Monday, July 7th. JPMorgan Chase & Co. boosted their price objective on shares of CSX from $31.00 to $34.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Jefferies Financial Group cut their price target on shares of CSX from $37.00 to $33.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Finally, The Goldman Sachs Group restated a "neutral" rating and set a $35.00 price target on shares of CSX in a research note on Monday, June 2nd. Nine research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, CSX presently has a consensus rating of "Moderate Buy" and a consensus target price of $34.82.
Read Our Latest Stock Analysis on CSX
CSX Stock Down 0.7%
Shares of CSX traded down $0.22 during mid-day trading on Tuesday, hitting $33.26. The company's stock had a trading volume of 11,484,674 shares, compared to its average volume of 13,414,217. The company's 50-day moving average is $31.95 and its 200-day moving average is $31.12. CSX has a 52-week low of $26.22 and a 52-week high of $37.10. The firm has a market capitalization of $62.48 billion, a price-to-earnings ratio of 19.92, a PEG ratio of 3.04 and a beta of 1.23. The company has a current ratio of 0.88, a quick ratio of 0.75 and a debt-to-equity ratio of 1.52.
CSX (NASDAQ:CSX - Get Free Report) last announced 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). The business had revenue of $3.42 billion during the quarter, compared to analysts' expectations of $3.53 billion. CSX had a return on equity of 26.42% and a net margin of 22.66%. On average, equities research analysts forecast that CSX will post 1.83 EPS for the current fiscal year.
CSX Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date was Friday, May 30th. CSX's dividend payout ratio (DPR) is presently 31.14%.
Institutional Trading of CSX
A number of hedge funds have recently added to or reduced their stakes in CSX. Associated Banc Corp increased its stake in CSX by 0.9% in the 1st quarter. Associated Banc Corp now owns 40,384 shares of the transportation company's stock valued at $1,189,000 after buying an additional 356 shares during the period. Portside Wealth Group LLC increased its stake in CSX by 1.3% in the 1st quarter. Portside Wealth Group LLC now owns 27,335 shares of the transportation company's stock valued at $804,000 after buying an additional 361 shares during the period. Ullmann Wealth Partners Group LLC increased its stake in CSX by 1.3% in the 1st quarter. Ullmann Wealth Partners Group LLC now owns 29,276 shares of the transportation company's stock valued at $862,000 after buying an additional 363 shares during the period. Family Legacy Inc. increased its stake in CSX by 0.6% in the 4th quarter. Family Legacy Inc. now owns 68,009 shares of the transportation company's stock valued at $2,190,000 after buying an additional 375 shares during the period. Finally, LRI Investments LLC increased its stake in CSX by 4.8% in the 1st quarter. LRI Investments LLC now owns 8,254 shares of the transportation company's stock valued at $243,000 after buying an additional 375 shares during the period. 73.57% of the stock is owned by hedge funds and other institutional investors.
CSX Company Profile
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Get Free Report)
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.
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