CSX (NASDAQ:CSX) Given New $35.00 Price Target at TD Cowen

by · The Markets Daily

CSX (NASDAQ:CSX – Free Report) had its price target decreased by TD Cowen from $36.00 to $35.00 in a research note issued to investors on Thursday, Marketbeat Ratings reports. TD Cowen currently has a hold rating on the transportation company’s stock.

Several other analysts have also issued reports on the company. Susquehanna increased their target price on CSX from $41.00 to $42.00 and gave the stock a “positive” rating in a report on Wednesday, October 2nd. Benchmark reissued a “buy” rating and issued a $40.00 target price on shares of CSX in a report on Wednesday, August 7th. Bank of America downgraded shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a report on Monday, July 8th. Royal Bank of Canada decreased their price objective on shares of CSX from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research note on Thursday. Finally, Citigroup assumed coverage on CSX in a research note on Wednesday, October 9th. They set a “buy” rating and a $42.00 target price for the company. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $38.61.

Get Our Latest Stock Report on CSX

CSX Stock Down 6.7 %

CSX stock opened at $33.09 on Thursday. The business’s fifty day moving average price is $34.02 and its two-hundred day moving average price is $33.99. The stock has a market capitalization of $64.69 billion, a price-to-earnings ratio of 18.18, a PEG ratio of 1.90 and a beta of 1.19. CSX has a fifty-two week low of $29.03 and a fifty-two week high of $40.12. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.16 and a quick ratio of 1.01.

CSX (NASDAQ:CSX – Get Free Report) last released its quarterly earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). CSX had a net margin of 24.52% and a return on equity of 29.11%. The business had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.68 billion. During the same quarter in the previous year, the firm posted $0.42 earnings per share. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. On average, equities analysts anticipate that CSX will post 1.93 earnings per share for the current year.

CSX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s dividend payout ratio is 26.37%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Itau Unibanco Holding S.A. purchased a new stake in shares of CSX during the second quarter worth about $26,000. MFA Wealth Advisors LLC bought a new stake in shares of CSX in the 2nd quarter valued at approximately $27,000. Financial Synergies Wealth Advisors Inc. bought a new stake in shares of CSX during the 1st quarter worth approximately $29,000. Fairscale Capital LLC purchased a new position in CSX during the 2nd quarter worth $32,000. Finally, Strategic Financial Concepts LLC purchased a new position in CSX during the 2nd quarter worth $33,000. Institutional investors own 73.57% of the company’s stock.

About CSX

(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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