CSX (NASDAQ:CSX) Price Target Raised to $37.00

CSX (NASDAQ:CSX) had its price target increased by Sanford C. Bernstein from $36.00 to $37.00 in a report issued on Tuesday morning,MarketScreener reports. The brokerage currently has a market perform rating on the transportation company’s stock.

Several other equities research analysts have also recently commented on the company. Wall Street Zen cut CSX from a “hold” rating to a “sell” rating in a research note on Friday, August 22nd. TD Cowen raised CSX from a “hold” rating to a “buy” rating and raised their target price for the stock from $32.00 to $45.00 in a research note on Monday, July 21st. Deutsche Bank Aktiengesellschaft raised CSX from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Thursday, July 24th. JPMorgan Chase & Co. raised their target price on CSX from $34.00 to $41.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Finally, Wells Fargo & Company upgraded CSX from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $37.00 to $40.00 in a report on Thursday, September 25th. 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 stock. According to MarketBeat, CSX has a consensus rating of “Moderate Buy” and an average target price of $37.50.

CSX Trading Up 1.6%

Shares of CSX stock opened at $35.57 on Tuesday. The stock has a market cap of $66.31 billion, a price-to-earnings ratio of 21.96, a PEG ratio of 2.71 and a beta of 1.29. The stock has a 50-day moving average of $34.23 and a 200-day moving average of $31.94. The company has a current ratio of 0.77, a quick ratio of 0.63 and a debt-to-equity ratio of 1.50. CSX has a 1-year low of $26.22 and a 1-year high of $37.25.

CSX (NASDAQ:CSX) last released its earnings results on Wednesday, July 23rd. The transportation company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.42 by $0.02. CSX had a return on equity of 25.48% and a net margin of 21.92%.The business had revenue of $3.57 billion during the quarter, compared to analysts’ expectations of $3.57 billion. During the same quarter last year, the firm posted $0.49 earnings per share. The firm’s revenue was down 3.5% on a year-over-year basis. On average, equities research analysts forecast that CSX will post 1.83 earnings per share for the current year.

CSX Announces Dividend

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Twin Peaks Wealth Advisors LLC bought a new position in shares of CSX in the second quarter valued at approximately $25,000. Rossby Financial LCC bought a new position in shares of CSX in the first quarter valued at approximately $28,000. WFA of San Diego LLC bought a new position in shares of CSX in the second quarter valued at approximately $28,000. Barnes Dennig Private Wealth Management LLC bought a new position in shares of CSX in the first quarter valued at approximately $30,000. Finally, Kessler Investment Group LLC bought a new position in shares of CSX in the first quarter valued at approximately $32,000. Institutional investors own 73.57% of the company’s stock.

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.