CSX (NASDAQ:CSX) Given New $41.00 Price Target at Stephens

CSX (NASDAQ:CSX) had its price objective increased by Stephens from $39.00 to $41.00 in a research note released on Monday morning,MarketScreener reports. They currently have an overweight rating on the transportation company’s stock.

CSX has been the topic of a number of other research reports. Baird R W raised CSX to a “strong-buy” rating in a report on Tuesday, July 1st. Sanford C. Bernstein raised their price objective on CSX from $36.00 to $37.00 and gave the stock a “market perform” rating in a research note on Tuesday, September 30th. Susquehanna decreased their price objective on shares of CSX from $35.00 to $34.00 and set a “neutral” rating for the company in a report on Thursday, September 25th. Wells Fargo & Company upgraded shares of CSX from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $37.00 to $40.00 in a research note on Thursday, September 25th. Finally, Bank of America reduced their price target on shares of CSX from $42.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, CSX has an average rating of “Moderate Buy” and a consensus price target of $38.09.

CSX Trading Up 0.7%

NASDAQ CSX opened at $36.25 on Monday. The company has a market capitalization of $67.58 billion, a price-to-earnings ratio of 22.38, a price-to-earnings-growth ratio of 2.79 and a beta of 1.29. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.77 and a quick ratio of 0.63. CSX has a 12 month low of $26.22 and a 12 month high of $37.25. The company’s fifty day moving average price is $34.24 and its two-hundred day moving average price is $32.05.

CSX (NASDAQ:CSX) last issued its earnings results on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. The business had revenue of $3.57 billion for the quarter, compared to analyst estimates of $3.57 billion. CSX had a net margin of 21.92% and a return on equity of 25.48%. The company’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.49 EPS. As a group, research analysts predict that CSX will post 1.83 earnings per share for the current fiscal year.

CSX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were given a $0.13 dividend. The ex-dividend date was Friday, August 29th. This represents a $0.52 annualized dividend and a yield of 1.4%. CSX’s dividend payout ratio is 32.10%.

Hedge Funds Weigh In On CSX

Several hedge funds and other institutional investors have recently made changes to their positions in CSX. Brighton Jones LLC raised its stake in CSX by 5.5% during the 4th quarter. Brighton Jones LLC now owns 16,254 shares of the transportation company’s stock valued at $525,000 after acquiring an additional 849 shares in the last quarter. NBC Securities Inc. increased its holdings in shares of CSX by 94,100.0% during the first quarter. NBC Securities Inc. now owns 6,594 shares of the transportation company’s stock valued at $194,000 after purchasing an additional 6,587 shares during the period. Hennion & Walsh Asset Management Inc. bought a new stake in shares of CSX during the first quarter valued at about $555,000. Clean Yield Group raised its stake in shares of CSX by 54.5% during the first quarter. Clean Yield Group now owns 1,590 shares of the transportation company’s stock valued at $47,000 after purchasing an additional 561 shares in the last quarter. Finally, Wedmont Private Capital lifted its holdings in CSX by 4.6% in the first quarter. Wedmont Private Capital now owns 16,220 shares of the transportation company’s stock worth $454,000 after purchasing an additional 711 shares during the period. 73.57% of the stock is currently owned by institutional investors and hedge funds.

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.