CSX (NASDAQ:CSX) Price Target Cut to $34.00 by Analysts at Wells Fargo & Company

CSX (NASDAQ:CSX) had its target price trimmed by Wells Fargo & Company from $35.00 to $34.00 in a research note released on Thursday, MarketBeat.com reports. The firm currently has an equal weight rating on the transportation company’s stock.

Other equities research analysts also recently issued research reports about the stock. Susquehanna dropped their target price on shares of CSX from $42.00 to $40.00 and set a “positive” rating for the company in a research report on Thursday. TD Cowen reduced their target price on CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday. BMO Capital Markets lowered their price target on CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a report on Thursday. Barclays decreased their price objective on shares of CSX from $41.00 to $40.00 and set an “overweight” rating for the company in a report on Wednesday, September 25th. Finally, Sanford C. Bernstein increased their target price on shares of CSX from $35.00 to $36.00 and gave the stock a “market perform” rating in a report on Monday, July 8th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $38.61.

CSX Price Performance

CSX opened at $34.12 on Thursday. CSX has a twelve month low of $29.03 and a twelve month high of $40.12. The company has a current ratio of 1.16, a quick ratio of 1.01 and a debt-to-equity ratio of 1.42. The firm has a market cap of $66.70 billion, a price-to-earnings ratio of 18.75, a PEG ratio of 1.90 and a beta of 1.19. The company has a fifty day simple moving average of $34.02 and a 200 day simple moving average of $33.93.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Wednesday, October 16th. The transportation company reported $0.46 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 business had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.68 billion. During the same quarter last year, the firm posted $0.42 EPS. The company’s revenue was up 1.3% compared to the same quarter last year. Equities research analysts expect that CSX will post 1.93 EPS for the current fiscal year.

CSX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a dividend of $0.12 per share. The ex-dividend date is Friday, November 29th. This represents a $0.48 annualized dividend and a yield of 1.41%. CSX’s payout ratio is 26.37%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. McClarren Financial Advisors Inc. grew its position in CSX by 1,608.3% in the third quarter. McClarren Financial Advisors Inc. now owns 2,050 shares of the transportation company’s stock worth $71,000 after buying an additional 1,930 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of CSX by 9.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 322,810 shares of the transportation company’s stock worth $11,147,000 after purchasing an additional 29,161 shares during the period. Cyndeo Wealth Partners LLC lifted its holdings in shares of CSX by 4.0% during the third quarter. Cyndeo Wealth Partners LLC now owns 12,735 shares of the transportation company’s stock valued at $440,000 after purchasing an additional 485 shares during the last quarter. New Century Financial Group LLC increased its stake in CSX by 22.0% in the 3rd quarter. New Century Financial Group LLC now owns 10,751 shares of the transportation company’s stock worth $371,000 after purchasing an additional 1,940 shares in the last quarter. Finally, Resonant Capital Advisors LLC lifted its stake in CSX by 3.6% during the third quarter. Resonant Capital Advisors LLC now owns 55,963 shares of the transportation company’s stock valued at $1,932,000 after buying an additional 1,962 shares in the last quarter. 73.57% of the stock is 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.