CSX (NASDAQ:CSX) Price Target Cut to $38.00 by Analysts at Jefferies Financial Group

CSX (NASDAQ:CSX) had its price target reduced by Jefferies Financial Group from $40.00 to $38.00 in a research report report published on Thursday morning, Benzinga reports. They currently have a hold rating on the transportation company’s stock.

Several other equities research analysts have also recently commented on the company. Susquehanna boosted their price target on CSX from $42.00 to $44.00 and gave the company a positive rating in a research note on Thursday, March 28th. TD Cowen boosted their price target on CSX from $32.00 to $36.00 and gave the company a market perform rating in a research note on Thursday, January 25th. JPMorgan Chase & Co. lowered their price target on CSX from $40.00 to $39.00 and set an overweight rating for the company in a research note on Thursday, December 21st. Benchmark boosted their target price on CSX from $38.00 to $40.00 and gave the stock a buy rating in a report on Wednesday, April 10th. Finally, Stifel Nicolaus boosted their target price on CSX from $37.00 to $39.00 and gave the stock a buy rating in a report on Friday, April 12th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $37.72.

CSX Trading Up 0.7 %

NASDAQ:CSX opened at $34.39 on Thursday. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.05 and a quick ratio of 0.91. CSX has a fifty-two week low of $29.03 and a fifty-two week high of $40.12. The stock’s 50-day moving average is $36.93 and its two-hundred day moving average is $34.32. The stock has a market cap of $67.32 billion, a PE ratio of 18.90, a price-to-earnings-growth ratio of 1.97 and a beta of 1.18.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Wednesday, April 17th. The transportation company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.45 by $0.01. The business had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.66 billion. CSX had a return on equity of 29.88% and a net margin of 24.75%. The firm’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.48 EPS. As a group, equities research analysts forecast that CSX will post 1.97 earnings per share for the current fiscal year.

CSX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.40%. This is a positive change from CSX’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Wednesday, February 28th. CSX’s dividend payout ratio is presently 26.37%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. West Tower Group LLC bought a new stake in CSX in the fourth quarter valued at $26,000. Fortitude Family Office LLC bought a new stake in CSX in the fourth quarter valued at $27,000. Life Planning Partners Inc bought a new stake in CSX in the fourth quarter valued at $27,000. Fortis Capital Advisors LLC bought a new stake in CSX in the fourth quarter valued at $27,000. Finally, Financial Synergies Wealth Advisors Inc. bought a new stake in CSX in the first quarter valued at $29,000. 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.