CSX (NASDAQ:CSX) Given New $37.00 Price Target at Evercore ISI

CSX (NASDAQ:CSX) had its price target cut by Evercore ISI from $39.00 to $37.00 in a report issued on Thursday morning,MarketScreener reports. They currently have an outperform rating on the transportation company’s stock.

A number of other research firms have also commented on CSX. Bank of America cut their price objective on CSX from $42.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday. Citigroup lifted their price objective on CSX from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, July 9th. Wall Street Zen lowered CSX from a “hold” rating to a “sell” rating in a research note on Friday, August 22nd. Baird R W raised CSX to a “strong-buy” rating in a research note on Tuesday, July 1st. Finally, Benchmark boosted their price target on CSX from $37.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $37.59.

CSX Stock Performance

NASDAQ:CSX opened at $33.78 on Thursday. The stock has a market cap of $62.98 billion, a P/E ratio of 20.85, a price-to-earnings-growth ratio of 2.53 and a beta of 1.25. The company has a current ratio of 0.77, a quick ratio of 0.63 and a debt-to-equity ratio of 1.50. The stock’s 50-day moving average is $34.19 and its 200-day moving average is $31.75. CSX has a 1-year low of $26.22 and a 1-year high of $37.25.

CSX (NASDAQ:CSX) last released its quarterly earnings results 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 company had revenue of $3.57 billion for the quarter, compared to analysts’ expectations of $3.57 billion. CSX had a return on equity of 25.48% and a net margin of 21.92%.The business’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.49 earnings per share. Equities research analysts anticipate that CSX will post 1.83 earnings per share for the current year.

CSX Announces Dividend

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Twin Peaks Wealth Advisors LLC bought a new position in shares of CSX during the 2nd quarter worth $25,000. Rossby Financial LCC purchased a new stake in shares of CSX in the 1st quarter valued at about $28,000. WFA of San Diego LLC purchased a new stake in shares of CSX in the 2nd quarter valued at about $28,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of CSX in the 1st quarter valued at about $30,000. Finally, Kessler Investment Group LLC purchased a new stake in shares of CSX in the 1st quarter valued at about $32,000. Institutional investors 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.