CSX (NASDAQ:CSX) Price Target Cut to $36.00 by Analysts at Royal Bank of Canada

CSX (NASDAQ:CSX) had its target price trimmed by Royal Bank of Canada from $37.00 to $36.00 in a report issued on Thursday morning, Benzinga reports. The firm currently has a sector perform rating on the transportation company’s stock.

Several other analysts have also recently commented on CSX. Benchmark restated a buy rating and set a $40.00 target price on shares of CSX in a report on Thursday. JPMorgan Chase & Co. decreased their target price on CSX from $40.00 to $39.00 and set an overweight rating on the stock in a report on Thursday, December 21st. Bank of America decreased their target price on CSX from $40.00 to $39.00 and set a buy rating on the stock in a report on Thursday. Jefferies Financial Group decreased their target price on CSX from $40.00 to $38.00 and set a hold rating on the stock in a report on Thursday. Finally, Raymond James upped their price target on CSX from $35.00 to $38.00 and gave the company an outperform rating in a research note on Tuesday, January 16th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, CSX has an average rating of Moderate Buy and a consensus price target of $37.72.

CSX Stock Performance

Shares of NASDAQ:CSX opened at $34.39 on Thursday. The business’s fifty day moving average price is $36.93 and its two-hundred day moving average price is $34.32. CSX has a fifty-two week low of $29.03 and a fifty-two week high of $40.12. The stock has a market capitalization of $67.32 billion, a price-to-earnings ratio of 18.90, a price-to-earnings-growth ratio of 1.97 and a beta of 1.18. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.05 and a quick ratio of 0.91.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. The firm had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.66 billion. CSX had a return on equity of 29.88% and a net margin of 24.75%. The business’s revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.48 earnings per share. As a group, analysts predict that CSX will post 1.97 EPS for the current fiscal year.

CSX Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were issued a $0.12 dividend. This is an increase from CSX’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a dividend yield of 1.40%. The ex-dividend date was Wednesday, February 28th. CSX’s dividend payout ratio is 26.37%.

Institutional Investors Weigh In On CSX

Large investors have recently modified their holdings of the business. West Tower Group LLC bought a new stake in shares of CSX in the fourth quarter worth about $26,000. Fortitude Family Office LLC bought a new stake in shares of CSX in the fourth quarter worth about $27,000. Life Planning Partners Inc bought a new stake in shares of CSX in the fourth quarter worth about $27,000. Fortis Capital Advisors LLC bought a new stake in shares of CSX in the fourth quarter worth about $27,000. Finally, Financial Synergies Wealth Advisors Inc. bought a new stake in shares of CSX in the first quarter worth about $29,000. 73.57% of the stock is currently owned by 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.