CSX (NASDAQ:CSX) Price Target Lowered to $36.00 at Royal Bank of Canada

CSX (NASDAQ:CSX) had its price target decreased by Royal Bank of Canada from $37.00 to $36.00 in a research report report published on Thursday, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the transportation company’s stock.

A number of other analysts have also weighed in on CSX. Susquehanna increased their price objective on shares of CSX from $42.00 to $44.00 and gave the stock a positive rating in a research note on Thursday, March 28th. BMO Capital Markets increased their price target on CSX from $37.00 to $38.00 and gave the stock an outperform rating in a research report on Thursday, January 25th. Raymond James boosted their price objective on CSX from $35.00 to $38.00 and gave the company an outperform rating in a report on Tuesday, January 16th. Stifel Nicolaus upped their target price on CSX from $37.00 to $39.00 and gave the stock a buy rating in a research note on Friday, April 12th. Finally, Benchmark reiterated a buy rating and set a $40.00 price target on shares of CSX in a research report on Thursday. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, CSX currently has a consensus rating of Moderate Buy and a consensus price target of $38.00.

CSX Stock Down 0.1 %

Shares of CSX stock opened at $34.34 on Thursday. CSX has a fifty-two week low of $29.03 and a fifty-two week high of $40.12. The firm has a market capitalization of $67.22 billion, a PE ratio of 18.87, a P/E/G ratio of 2.00 and a beta of 1.18. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.91 and a current ratio of 1.15. The stock’s 50-day simple moving average is $36.88 and its 200-day simple moving average is $34.40.

CSX (NASDAQ:CSX) last issued its earnings results on Wednesday, April 17th. The transportation company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. CSX had a return on equity of 29.58% and a net margin of 24.75%. The firm had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.66 billion. During the same quarter in the prior year, the firm earned $0.48 earnings per share. CSX’s revenue for the quarter was down .8% on a year-over-year basis. Equities analysts expect that CSX will post 1.95 earnings per share for the current year.

CSX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This is a boost from CSX’s previous quarterly dividend of $0.11. This represents a $0.48 dividend on an annualized basis and a yield of 1.40%. CSX’s dividend payout ratio is currently 26.37%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Value Partners Investments Inc. purchased a new stake in CSX during the 3rd quarter worth approximately $1,172,000. Morgan Stanley boosted its stake in shares of CSX by 3.1% in the third quarter. Morgan Stanley now owns 24,340,514 shares of the transportation company’s stock worth $748,471,000 after acquiring an additional 739,411 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of CSX by 3,241.9% in the fourth quarter. International Assets Investment Management LLC now owns 235,304 shares of the transportation company’s stock worth $8,158,000 after acquiring an additional 228,263 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of CSX by 5.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 723,344 shares of the transportation company’s stock worth $25,078,000 after purchasing an additional 34,730 shares in the last quarter. Finally, Sapient Capital LLC acquired a new position in CSX in the 4th quarter valued at $1,279,000. 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.