CSX (NASDAQ:CSX) Receives New Coverage from Analysts at Wells Fargo & Company

Wells Fargo & Company initiated coverage on shares of CSX (NASDAQ:CSXFree Report) in a research report released on Friday morning, MarketBeat reports. The brokerage issued an equal weight rating and a $35.00 target price on the transportation company’s stock.

Other equities analysts have also issued reports about the stock. Benchmark reiterated a buy rating and set a $40.00 target price on shares of CSX in a research report on Thursday, April 18th. Stifel Nicolaus increased their price objective on shares of CSX from $37.00 to $39.00 and gave the company a buy rating in a report on Friday, April 12th. Royal Bank of Canada cut their price objective on shares of CSX from $37.00 to $36.00 and set a sector perform rating on the stock in a report on Thursday, April 18th. Jefferies Financial Group cut their price objective on shares of CSX from $40.00 to $38.00 and set a hold rating on the stock in a report on Thursday, April 18th. Finally, Bank of America cut their price objective on shares of CSX from $40.00 to $39.00 and set a buy rating on the stock in a report on Thursday, April 18th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, CSX currently has a consensus rating of Moderate Buy and an average target price of $37.82.

View Our Latest Analysis on CSX

CSX Price Performance

Shares of CSX stock opened at $32.75 on Friday. CSX has a 1 year low of $29.03 and a 1 year high of $40.12. The firm’s 50 day moving average is $34.25 and its 200-day moving average is $35.10. The firm has a market capitalization of $64.02 billion, a price-to-earnings ratio of 17.99, a PEG ratio of 1.71 and a beta of 1.19. The company has a current ratio of 1.15, a quick ratio of 1.00 and a debt-to-equity ratio of 1.42.

CSX (NASDAQ:CSXGet Free Report) last announced its earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.01. CSX had a net margin of 24.75% and a return on equity of 29.58%. The company had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.66 billion. During the same period in the prior year, the business earned $0.48 earnings per share. CSX’s quarterly revenue was down .8% on a year-over-year basis. Sell-side analysts forecast that CSX will post 1.96 EPS for the current fiscal year.

CSX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend is Friday, May 31st. CSX’s dividend payout ratio is 26.37%.

Institutional Investors Weigh In On CSX

Large investors have recently made changes to their positions in the stock. Fortitude Family Office LLC bought a new position in CSX in the fourth quarter valued at $27,000. Life Planning Partners Inc bought a new position in CSX in the fourth quarter valued at $27,000. Financial Synergies Wealth Advisors Inc. bought a new position in CSX in the first quarter valued at $29,000. Turtle Creek Wealth Advisors LLC bought a new position in CSX in the fourth quarter valued at $34,000. Finally, Burkett Financial Services LLC bought a new position in CSX in the fourth quarter valued at $34,000. Institutional investors own 73.57% of the company’s stock.

CSX Company Profile

(Get Free Report)

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.

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