CSX (NASDAQ:CSX) Price Target Raised to $41.00 at Barclays

CSX (NASDAQ:CSX) had its target price hoisted by Barclays from $40.00 to $41.00 in a research report report published on Wednesday,Benzinga reports. They currently have an overweight rating on the transportation company’s stock.

Several other brokerages also recently commented on CSX. Stifel Nicolaus reduced their target price on CSX from $39.00 to $37.00 and set a “buy” rating for the company in a report on Thursday, October 17th. BMO Capital Markets decreased their target price on shares of CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Wells Fargo & Company cut their price target on shares of CSX from $35.00 to $34.00 and set an “equal weight” rating on the stock in a report on Thursday, October 17th. Loop Capital decreased their price objective on shares of CSX from $43.00 to $42.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. Finally, Benchmark reissued a “buy” rating and set a $40.00 target price on shares of CSX in a research note on Wednesday, August 7th. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $38.78.

CSX Stock Performance

NASDAQ:CSX opened at $35.13 on Wednesday. The company has a 50-day moving average of $34.32 and a 200-day moving average of $33.89. The firm has a market cap of $67.75 billion, a price-to-earnings ratio of 18.89, a price-to-earnings-growth ratio of 2.32 and a beta of 1.19. The company has a current ratio of 1.39, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. CSX has a twelve month low of $30.86 and a twelve month high of $40.12.

CSX (NASDAQ:CSX) last issued its earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). CSX had a return on equity of 28.92% and a net margin of 24.77%. The business had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.68 billion. During the same quarter in the previous year, the business posted $0.42 earnings per share. The company’s quarterly revenue was up 1.3% on a year-over-year basis. Analysts forecast that CSX will post 1.84 earnings per share for the current fiscal year.

CSX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date is Friday, November 29th. CSX’s dividend payout ratio (DPR) is presently 25.81%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CSX. Valley Wealth Managers Inc. increased its position in 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 last quarter. Itau Unibanco Holding S.A. acquired a new position in shares of CSX during the 2nd quarter valued at about $26,000. MFA Wealth Advisors LLC bought a new position in shares of CSX in the 2nd quarter valued at approximately $27,000. Fairscale Capital LLC acquired a new stake in CSX in the 2nd quarter worth approximately $32,000. Finally, Morton Brown Family Wealth LLC bought a new stake in CSX during the third quarter worth approximately $31,000. Institutional investors and hedge funds 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.