CSX (NASDAQ:CSX) Price Target Raised to $31.00

CSX (NASDAQ:CSX) had its price objective increased by Bank of America from $30.00 to $31.00 in a research report sent to investors on Monday morning,Benzinga reports. Bank of America currently has a neutral rating on the transportation company’s stock.

Several other brokerages also recently weighed in on CSX. UBS Group reduced their price target on shares of CSX from $36.00 to $34.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Raymond James reissued an “outperform” rating and set a $33.00 price target (down previously from $34.00) on shares of CSX in a research report on Thursday, April 17th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of CSX in a research report on Friday, March 7th. They set a “hold” rating and a $34.00 price target for the company. Barclays dropped their target price on shares of CSX from $35.00 to $31.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Finally, Evercore ISI dropped their target price on shares of CSX from $35.00 to $33.00 and set an “outperform” rating on the stock in a report on Thursday, April 17th. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $33.90.

CSX Price Performance

Shares of CSX opened at $31.03 on Monday. The company has a market capitalization of $58.29 billion, a P/E ratio of 17.34, a price-to-earnings-growth ratio of 1.92 and a beta of 1.22. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. The firm has a 50 day moving average of $28.76 and a 200 day moving average of $31.81. CSX has a twelve month low of $26.22 and a twelve month high of $37.10.

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

CSX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.52 annualized dividend and a dividend yield of 1.68%. CSX’s payout ratio is 31.14%.

Institutional Trading of CSX

Several institutional investors and hedge funds have recently modified their holdings of CSX. Czech National Bank raised its position in shares of CSX by 5.9% during the 4th quarter. Czech National Bank now owns 418,120 shares of the transportation company’s stock valued at $13,493,000 after purchasing an additional 23,178 shares during the period. Salem Investment Counselors Inc. increased its holdings in CSX by 47.5% in the 4th quarter. Salem Investment Counselors Inc. now owns 10,554 shares of the transportation company’s stock valued at $341,000 after acquiring an additional 3,400 shares during the last quarter. Cooper Financial Group increased its holdings in CSX by 5.3% in the 4th quarter. Cooper Financial Group now owns 10,299 shares of the transportation company’s stock valued at $332,000 after acquiring an additional 522 shares during the last quarter. Miracle Mile Advisors LLC increased its holdings in CSX by 20.1% in the 4th quarter. Miracle Mile Advisors LLC now owns 125,277 shares of the transportation company’s stock valued at $4,043,000 after acquiring an additional 20,978 shares during the last quarter. Finally, Courier Capital LLC increased its holdings in CSX by 3.3% in the 4th quarter. Courier Capital LLC now owns 12,299 shares of the transportation company’s stock valued at $397,000 after acquiring an additional 392 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors.

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.