Evercore ISI Issues Pessimistic Forecast for CSX (NASDAQ:CSX) Stock Price

Key Points

• Evercore ISI has reduced CSX's price target from $39.00 to $37.00, while maintaining an "outperform" rating, indicating a potential upside of 9.40% from the current price.
• CSX's earnings report revealed a quarterly EPS of $0.44, slightly exceeding analysts' expectations, though the company's revenue has declined 3.5% year-over-year.
• Institutional ownership of CSX is substantial, with 73.57% of the company's stock held by institutional investors after several new stakes were acquired recently.

CSX (NASDAQ:CSX - Get Free Report) had its price target reduced by stock analysts at Evercore ISI from $39.00 to $37.00 in a research report issued to clients and investors on Thursday,MarketScreener reports. The brokerage presently has an "outperform" rating on the transportation company's stock. Evercore ISI's price target indicates a potential upside of 9.40% from the company's current price.

Several other research analysts have also weighed in on the company. Citigroup upped their price target on CSX from $36.00 to $38.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. TD Cowen raised shares of CSX from a "hold" rating to a "buy" rating and lifted their target price for the company from $32.00 to $45.00 in a research note on Monday, July 21st. Barclays raised their price target on CSX from $36.00 to $38.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. BMO Capital Markets downgraded shares of CSX from an "outperform" rating to a "market perform" rating and set a $38.00 target price for the company. in a research report on Monday, August 18th. Finally, Robert W. Baird upped their price objective on shares of CSX from $38.00 to $44.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $37.59.

CSX Price Performance

NASDAQ:CSX opened at $33.82 on Thursday. CSX has a 52-week low of $26.22 and a 52-week high of $37.25. The company has a quick ratio of 0.63, a current ratio of 0.77 and a debt-to-equity ratio of 1.50. The firm has a market cap of $63.05 billion, a P/E ratio of 20.88, a PEG ratio of 2.54 and a beta of 1.25. The business's 50-day moving average price is $34.20 and its 200 day moving average price is $31.73.

CSX (NASDAQ:CSX - Get Free Report) last released its earnings results on Wednesday, July 23rd. The transportation company reported $0.44 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.02. CSX had a net margin of 21.92% and a return on equity of 25.48%. The business had revenue of $3.57 billion for the quarter, compared to the consensus estimate of $3.57 billion. During the same period in the previous year, the firm earned $0.49 EPS. The business's revenue for the quarter was down 3.5% on a year-over-year basis. As a group, sell-side analysts predict that CSX will post 1.83 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Twin Peaks Wealth Advisors LLC acquired a new stake in CSX during the 2nd quarter valued at $25,000. WFA of San Diego LLC bought a new stake in CSX during the 2nd quarter worth about $28,000. Barnes Dennig Private Wealth Management LLC bought a new position in shares of CSX in the first quarter worth about $30,000. Rossby Financial LCC bought a new stake in shares of CSX during the first quarter valued at approximately $28,000. Finally, Kessler Investment Group LLC acquired a new stake in shares of CSX in the first quarter valued at approximately $32,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.