CSX (NASDAQ:CSX) Price Target Cut to $40.00 by Analysts at Bank of America

CSX (NASDAQ:CSX) had its price objective cut by Bank of America from $42.00 to $40.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have a buy rating on the transportation company’s stock.

Several other research analysts also recently weighed in on the stock. BMO Capital Markets downgraded shares of CSX from an “outperform” rating to a “market perform” rating and set a $38.00 target price on the stock. in a research report on Monday, August 18th. Citigroup raised their price objective on shares of CSX from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, July 9th. Robert W. Baird boosted their target price on shares of CSX from $38.00 to $44.00 and gave the company an “outperform” rating in a research note on Friday, July 25th. Benchmark increased their target price on CSX from $37.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Finally, Barclays lifted their price target on CSX from $36.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $37.32.

CSX Trading Down 0.7%

CSX stock opened at $33.82 on Wednesday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.63 and a current ratio of 0.77. The firm has a market cap of $63.05 billion, a price-to-earnings ratio of 20.88, a price-to-earnings-growth ratio of 2.54 and a beta of 1.25. CSX has a 1 year low of $26.22 and a 1 year high of $37.25. The firm’s 50 day moving average price is $34.20 and its two-hundred day moving average price is $31.73.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.02. The business had revenue of $3.57 billion during the quarter, compared to analyst estimates of $3.57 billion. CSX had a return on equity of 25.48% and a net margin of 21.92%.The company’s revenue was down 3.5% compared to the same quarter last year. During the same period last year, the company posted $0.49 EPS. On average, research analysts predict that CSX will post 1.83 EPS for the current fiscal year.

CSX Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, August 29th were paid a $0.13 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.52 annualized dividend and a dividend yield of 1.5%. CSX’s payout ratio is presently 32.10%.

Institutional Trading of CSX

A number of institutional investors have recently added to or reduced their stakes in CSX. Twin Peaks Wealth Advisors LLC bought a new position in shares of CSX during the 2nd quarter valued at $25,000. WFA of San Diego LLC acquired a new position in CSX during the second quarter worth $28,000. Barnes Dennig Private Wealth Management LLC bought a new position in CSX during the first quarter valued at about $30,000. Rossby Financial LCC acquired a new stake in shares of CSX in the first quarter worth about $28,000. Finally, Kessler Investment Group LLC acquired a new position in shares of CSX during the 1st quarter valued at about $32,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

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.