Susquehanna Trims CSX (NASDAQ:CSX) Target Price to $40.00

CSX (NASDAQ:CSX) had its target price cut by Susquehanna from $42.00 to $40.00 in a report issued on Thursday, Benzinga reports. They currently have a positive rating on the transportation company’s stock.

A number of other equities research analysts have also issued reports on the company. Barclays dropped their price target on CSX from $41.00 to $40.00 and set an “overweight” rating for the company in a research report on Wednesday, September 25th. TD Cowen dropped their target price on CSX from $36.00 to $35.00 and set a “hold” rating for the company in a report on Thursday. Evercore ISI reduced their price target on CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a report on Thursday. BMO Capital Markets dropped their price objective on shares of CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a report on Thursday. Finally, Loop Capital cut their price objective on shares of CSX from $43.00 to $42.00 and set a “buy” rating for the company in a research report on Thursday. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, CSX presently has an average rating of “Moderate Buy” and a consensus price target of $38.61.

CSX Trading Up 3.1 %

Shares of CSX stock opened at $34.12 on Thursday. CSX has a fifty-two week low of $29.03 and a fifty-two week high of $40.12. The firm has a market capitalization of $66.70 billion, a P/E ratio of 18.75, a PEG ratio of 1.90 and a beta of 1.19. The stock’s fifty day moving average is $34.02 and its two-hundred day moving average is $33.95. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.01 and a current ratio of 1.16.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.02). CSX had a return on equity of 29.11% and a net margin of 24.52%. The business had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.68 billion. During the same period in the prior year, the business posted $0.42 earnings per share. The business’s quarterly revenue was up 1.3% on a year-over-year basis. Research analysts expect that CSX will post 1.93 earnings per share for the current fiscal year.

CSX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.48 annualized dividend and a dividend yield of 1.41%. CSX’s dividend payout ratio is presently 26.37%.

Hedge Funds Weigh In On CSX

A number of hedge funds and other institutional investors have recently bought and sold shares of CSX. Price T Rowe Associates Inc. MD lifted its position in shares of CSX by 0.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 65,251,716 shares of the transportation company’s stock worth $2,418,883,000 after purchasing an additional 443,755 shares in the last quarter. Bank of New York Mellon Corp increased its stake in CSX by 6.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 17,133,857 shares of the transportation company’s stock worth $573,128,000 after buying an additional 1,060,204 shares during the period. Dimensional Fund Advisors LP lifted its holdings in CSX by 9.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 12,421,862 shares of the transportation company’s stock worth $415,466,000 after buying an additional 1,060,617 shares in the last quarter. Bank of Montreal Can boosted its position in CSX by 38.7% in the 2nd quarter. Bank of Montreal Can now owns 6,749,827 shares of the transportation company’s stock valued at $225,917,000 after buying an additional 1,884,998 shares during the period. Finally, Interval Partners LP grew its stake in shares of CSX by 849.0% in the second quarter. Interval Partners LP now owns 5,118,751 shares of the transportation company’s stock worth $171,222,000 after acquiring an additional 4,579,344 shares in the last quarter. 73.57% of the stock is currently owned by hedge funds and other 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.