CSX (NASDAQ:CSX) Given New $44.00 Price Target at UBS Group

CSX (NASDAQ:CSX) had its target price lifted by UBS Group from $41.00 to $44.00 in a research report sent to investors on Friday, Marketbeat reports. UBS Group currently has a buy rating on the transportation company’s stock.

CSX has been the subject of a number of other reports. Jefferies Financial Group reissued a “buy” rating on shares of CSX in a report on Monday, September 29th. Wells Fargo & Company upgraded CSX from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $37.00 to $40.00 in a research report on Thursday, September 25th. Evercore ISI cut their price objective on CSX from $39.00 to $37.00 and set an “outperform” rating for the company in a report on Thursday, September 25th. Baird R W raised shares of CSX to a “strong-buy” rating in a report on Tuesday, July 1st. Finally, Bank of America dropped their target price on shares of CSX from $42.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.95.

CSX Trading Up 1.2%

Shares of CSX stock opened at $36.01 on Friday. CSX has a 52-week low of $26.22 and a 52-week high of $37.25. The stock has a market cap of $67.13 billion, a price-to-earnings ratio of 22.23, a P/E/G ratio of 2.79 and a beta of 1.29. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.63 and a current ratio of 0.77. The firm has a fifty day moving average of $34.23 and a 200-day moving average of $32.01.

CSX (NASDAQ:CSX) last issued its earnings results on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.02. CSX had a net margin of 21.92% and a return on equity of 25.48%. The business had revenue of $3.57 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same period in the previous year, the business earned $0.49 EPS. 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 fiscal year.

CSX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 29th were paid a $0.13 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.4%. CSX’s payout ratio is currently 32.10%.

Institutional Trading of CSX

Several hedge funds have recently modified their holdings of CSX. Strs Ohio bought a new position in CSX in the 1st quarter worth approximately $29,614,000. Focus Partners Wealth raised its position in shares of CSX by 6.7% during the first quarter. Focus Partners Wealth now owns 1,447,099 shares of the transportation company’s stock worth $42,588,000 after acquiring an additional 90,313 shares during the last quarter. Woodline Partners LP lifted its stake in shares of CSX by 127.7% during the first quarter. Woodline Partners LP now owns 1,151,161 shares of the transportation company’s stock valued at $33,879,000 after acquiring an additional 645,693 shares during the period. CWA Asset Management Group LLC boosted its holdings in CSX by 15.1% in the first quarter. CWA Asset Management Group LLC now owns 12,514 shares of the transportation company’s stock valued at $368,000 after acquiring an additional 1,642 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC increased its position in CSX by 9.8% in the first quarter. Dynamic Advisor Solutions LLC now owns 38,757 shares of the transportation company’s stock worth $1,141,000 after purchasing an additional 3,458 shares during the period. 73.57% of the stock is 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.