CSX (NASDAQ:CSX) Price Target Cut to $37.00 by Analysts at Susquehanna

CSX (NASDAQ:CSX) had its price objective reduced by Susquehanna from $39.00 to $37.00 in a research note published on Thursday,Benzinga reports. Susquehanna currently has a positive rating on the transportation company’s stock.

Several other analysts have also recently weighed in on the stock. Robert W. Baird reduced their price objective on shares of CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Royal Bank of Canada decreased their price target on CSX from $34.00 to $33.00 and set a “sector perform” rating for the company in a research note on Friday, January 24th. Barclays lowered their price objective on CSX from $40.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Stephens reissued an “overweight” rating and set a $38.00 target price on shares of CSX in a research report on Friday, January 24th. Finally, BMO Capital Markets lowered their price target on shares of CSX from $40.00 to $38.00 and set an “outperform” rating for the company in a report on Friday, January 24th. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $36.75.

CSX Price Performance

Shares of CSX stock opened at $29.92 on Thursday. The business has a fifty day simple moving average of $31.82 and a 200 day simple moving average of $33.23. The company has a market cap of $56.69 billion, a P/E ratio of 16.72, a P/E/G ratio of 1.92 and a beta of 1.25. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. CSX has a twelve month low of $28.98 and a twelve month high of $37.18.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a return on equity of 28.15% and a net margin of 23.95%. On average, sell-side analysts forecast that CSX will post 1.83 EPS for the current fiscal year.

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date was Friday, February 28th. This is a positive change from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio is currently 29.05%.

Hedge Funds Weigh In On CSX

A number of hedge funds have recently added to or reduced their stakes in CSX. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of CSX during the fourth quarter valued at approximately $27,000. Accredited Wealth Management LLC bought a new position in CSX during the 4th quarter valued at $29,000. Fourth Dimension Wealth LLC purchased a new position in CSX during the 4th quarter worth $29,000. SBI Securities Co. Ltd. bought a new stake in shares of CSX in the 4th quarter worth $31,000. Finally, Sierra Ocean LLC purchased a new stake in shares of CSX in the fourth quarter valued at about $33,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

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.