CSX (NASDAQ:CSX) PT Lowered to $81.00

CSX (NASDAQ:CSX) had its target price cut by Raymond James from $84.00 to $81.00 in a research report sent to investors on Wednesday morning, BenzingaRatingsTable reports. They currently have an outperform rating on the transportation company’s stock.

Several other brokerages have also commented on CSX. Cowen reissued a buy rating on shares of Alector in a report on Wednesday. Morgan Stanley set a $60.00 price target on shares of Berry Global Group and gave the stock a hold rating in a report on Wednesday, April 17th. Credit Suisse Group set a GBX 3,090 ($40.38) price target on shares of Royal Dutch Shell and gave the stock a buy rating in a report on Wednesday. Citigroup set a $20.00 price target on shares of Compania de Minas Buenaventura SAA and gave the stock a buy rating in a report on Thursday, April 4th. Finally, UBS Group reissued a buy rating on shares of Cie Gnrl des Etblsmnts Michelin SCA in a report on Friday, April 5th. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have assigned a buy rating to the company. CSX presently has an average rating of Hold and a consensus price target of $78.13.

CSX opened at $70.31 on Wednesday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.68 and a current ratio of 1.55. The company has a fifty day moving average price of $77.20. CSX has a 1 year low of $58.47 and a 1 year high of $80.73. The firm has a market cap of $56.12 billion, a PE ratio of 16.90, a P/E/G ratio of 1.22 and a beta of 1.22.

CSX (NASDAQ:CSX) last posted its earnings results on Tuesday, July 16th. The transportation company reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by ($0.03). CSX had a net margin of 27.87% and a return on equity of 26.96%. The firm had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.14 billion. During the same quarter in the prior year, the firm earned $1.01 earnings per share. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. Analysts forecast that CSX will post 4.15 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date is Thursday, August 29th. CSX’s payout ratio is 25.00%.

In other news, EVP Nathan D. Goldman sold 7,000 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $79.50, for a total transaction of $556,500.00. Following the completion of the sale, the executive vice president now owns 79,697 shares of the company’s stock, valued at $6,335,911.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 4.83% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. CWM LLC grew its holdings in shares of CSX by 10.7% in the first quarter. CWM LLC now owns 1,347 shares of the transportation company’s stock valued at $101,000 after purchasing an additional 130 shares during the period. Community Bank & Trust Waco Texas grew its holdings in shares of CSX by 1.1% in the second quarter. Community Bank & Trust Waco Texas now owns 12,314 shares of the transportation company’s stock valued at $953,000 after purchasing an additional 132 shares during the period. Hilltop Holdings Inc. grew its holdings in shares of CSX by 1.7% in the fourth quarter. Hilltop Holdings Inc. now owns 8,866 shares of the transportation company’s stock valued at $551,000 after purchasing an additional 149 shares during the period. RFG Advisory LLC grew its holdings in shares of CSX by 3.6% in the first quarter. RFG Advisory LLC now owns 4,276 shares of the transportation company’s stock valued at $319,000 after purchasing an additional 150 shares during the period. Finally, Adirondack Trust Co. grew its holdings in shares of CSX by 2.2% in the first quarter. Adirondack Trust Co. now owns 6,960 shares of the transportation company’s stock valued at $554,000 after purchasing an additional 150 shares during the period. 75.74% of the stock is owned by hedge funds and other institutional investors.

CSX Company Profile

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services, as well as transports intermodal containers and trailers. It transports chemicals, automotive, agricultural and food products, minerals, fertilizers, forest products, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.

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Analyst Recommendations for CSX (NASDAQ:CSX)

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