CSX (NASDAQ:CSX) Price Target Cut to $34.00 by Analysts at Stifel Nicolaus

CSX (NASDAQ:CSX) had its price objective lowered by Stifel Nicolaus from $37.00 to $34.00 in a research report report published on Monday,Benzinga reports. The brokerage currently has a buy rating on the transportation company’s stock.

Several other research firms also recently commented on CSX. Citigroup decreased their target price on shares of CSX from $39.00 to $36.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Benchmark reaffirmed a “buy” rating and set a $38.00 target price on shares of CSX in a research report on Monday, January 27th. Royal Bank of Canada lowered their price target on CSX from $34.00 to $33.00 and set a “sector perform” rating for the company in a research report on Friday, January 24th. Loop Capital lowered shares of CSX from a “buy” rating to a “hold” rating and reduced their target price for the stock from $40.00 to $34.00 in a research note on Monday, February 3rd. Finally, Jefferies Financial Group cut their price target on shares of CSX from $37.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $35.55.

CSX Trading Up 0.9 %

CSX opened at $28.27 on Monday. The company has a fifty day moving average price of $30.49 and a two-hundred day moving average price of $32.67. CSX has a 1-year low of $26.22 and a 1-year high of $37.10. The company has a market cap of $53.28 billion, a P/E ratio of 15.79, a price-to-earnings-growth ratio of 1.92 and a beta of 1.23. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a return on equity of 28.15% and a net margin of 23.95%. Analysts predict 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 dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.52 annualized dividend and a dividend yield of 1.84%. This is a positive change from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio (DPR) is currently 29.05%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Wellington Management Group LLP grew its stake in shares of CSX by 14.7% in the 4th quarter. Wellington Management Group LLP now owns 117,579 shares of the transportation company’s stock worth $3,794,000 after buying an additional 15,029 shares during the last quarter. Diversified Trust Co raised its position in shares of CSX by 180.7% in the 4th quarter. Diversified Trust Co now owns 72,197 shares of the transportation company’s stock worth $2,330,000 after purchasing an additional 46,473 shares during the last quarter. Marshall Financial Group LLC bought a new position in CSX in the 4th quarter worth about $1,084,000. Carnegie Investment Counsel grew its position in CSX by 1.4% during the 4th quarter. Carnegie Investment Counsel now owns 612,051 shares of the transportation company’s stock valued at $19,751,000 after purchasing an additional 8,474 shares during the last quarter. Finally, Waycross Partners LLC increased its stake in CSX by 7.0% during the 4th quarter. Waycross Partners LLC now owns 619,471 shares of the transportation company’s stock valued at $19,990,000 after purchasing an additional 40,611 shares in the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

About CSX

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.