CSX (NASDAQ:CSX) Given New $35.00 Price Target at BMO Capital Markets

CSX (NASDAQ:CSX) had its price target decreased by BMO Capital Markets from $36.00 to $35.00 in a report published on Thursday,Benzinga reports. BMO Capital Markets currently has an outperform rating on the transportation company’s stock.

Several other research analysts have also recently weighed in on CSX. Raymond James decreased their price objective on shares of CSX from $37.00 to $34.00 and set an “outperform” rating for the company in a report on Friday, April 11th. Robert W. Baird decreased their target price on shares of CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Susquehanna dropped their price target on CSX from $39.00 to $37.00 and set a “positive” rating on the stock in a research note on Thursday, March 27th. Wells Fargo & Company reduced their price objective on CSX from $34.00 to $31.00 and set an “equal weight” rating for the company in a research report on Thursday, March 27th. Finally, Benchmark reissued a “buy” rating and issued a $38.00 target price on shares of CSX in a research report on Monday, January 27th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, CSX currently has an average rating of “Moderate Buy” and a consensus target price of $33.95.

CSX Stock Performance

Shares of CSX opened at $27.64 on Thursday. The company has a market cap of $52.09 billion, a price-to-earnings ratio of 15.44, a P/E/G ratio of 1.92 and a beta of 1.23. The business’s fifty day simple moving average is $30.18 and its two-hundred day simple moving average is $32.55. CSX has a 12 month low of $26.22 and a 12 month high of $37.10. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Wednesday, April 16th. The transportation company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.05). CSX had a net margin of 23.95% and a return on equity of 28.15%. The business had revenue of $3.42 billion for the quarter, compared to analysts’ expectations of $3.53 billion. Research analysts anticipate that CSX will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a $0.13 dividend. The ex-dividend date was Friday, February 28th. This is a boost from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.88%. CSX’s dividend payout ratio is 31.14%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Geode Capital Management LLC lifted its position in shares of CSX by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 41,633,333 shares of the transportation company’s stock valued at $1,339,555,000 after acquiring an additional 726,507 shares in the last quarter. Invesco Ltd. lifted its holdings in CSX by 13.5% in the 4th quarter. Invesco Ltd. now owns 25,103,077 shares of the transportation company’s stock worth $810,076,000 after purchasing an additional 2,977,212 shares in the last quarter. Fisher Asset Management LLC boosted its stake in CSX by 1.2% in the 4th quarter. Fisher Asset Management LLC now owns 24,956,467 shares of the transportation company’s stock worth $805,345,000 after purchasing an additional 299,536 shares during the period. Norges Bank purchased a new stake in CSX during the 4th quarter valued at approximately $780,194,000. Finally, Bank of New York Mellon Corp raised its position in shares of CSX by 40.5% during the fourth quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company’s stock valued at $753,507,000 after buying an additional 6,730,316 shares during the last quarter. Hedge funds and other 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.