CSX (NASDAQ:CSX) Stock Price Expected to Rise, Citigroup Analyst Says

CSX (NASDAQ:CSX) had its price objective boosted by Citigroup from $42.00 to $44.00 in a research note released on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the transportation company’s stock.

Several other research analysts also recently commented on the stock. Susquehanna cut their price objective on shares of CSX from $42.00 to $40.00 and set a “positive” rating for the company in a report on Thursday, October 17th. Benchmark restated a “buy” rating and issued a $40.00 target price on shares of CSX in a research note on Wednesday, August 7th. Barclays lowered their price objective on shares of CSX from $41.00 to $40.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 25th. Loop Capital decreased their price target on shares of CSX from $43.00 to $42.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. Finally, Stephens reduced their price target on CSX from $41.00 to $39.00 and set an “overweight” rating on the stock in a research report on Thursday, October 17th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $38.78.

CSX Price Performance

Shares of NASDAQ CSX opened at $35.13 on Tuesday. The company has a market capitalization of $67.75 billion, a PE ratio of 18.91, a PEG ratio of 2.32 and a beta of 1.19. The company has a quick ratio of 1.23, a current ratio of 1.39 and a debt-to-equity ratio of 1.43. The stock’s 50 day moving average price is $34.29 and its 200-day moving average price is $33.88. CSX has a twelve month low of $30.86 and a twelve month high of $40.12.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.02). CSX had a return on equity of 28.92% and a net margin of 24.77%. The company had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.68 billion. During the same period in the prior year, the firm posted $0.42 EPS. The business’s revenue was up 1.3% on a year-over-year basis. On average, equities analysts anticipate that CSX will post 1.84 EPS for the current year.

CSX Dividend Announcement

The firm also recently declared 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 is Friday, November 29th. This represents a $0.48 dividend on an annualized basis and a yield of 1.37%. CSX’s payout ratio is 25.81%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CSX. Itau Unibanco Holding S.A. acquired a new stake in CSX in the 2nd quarter valued at about $26,000. Valley Wealth Managers Inc. boosted its stake in shares of CSX by 177.8% during the third quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock worth $26,000 after buying an additional 480 shares during the period. MFA Wealth Advisors LLC purchased a new position in shares of CSX in the 2nd quarter valued at approximately $27,000. Morton Brown Family Wealth LLC purchased a new position in CSX during the 3rd quarter worth $31,000. Finally, Fairscale Capital LLC acquired a new stake in CSX in the second quarter valued at about $32,000. 73.57% of the stock is owned by hedge funds and other 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.