Barclays Issues Positive Forecast for CSX (NASDAQ:CSX) Stock Price

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

Several other brokerages have also recently weighed in on CSX. Stephens reduced their price target on CSX from $41.00 to $39.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. TD Cowen reduced their target price on CSX from $36.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, October 17th. Citigroup increased their price target on shares of CSX from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday. JPMorgan Chase & Co. boosted their price objective on shares of CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, August 6th. Finally, Benchmark reiterated a “buy” rating and issued a $40.00 target price on shares of CSX in a research note on Wednesday, August 7th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $38.78.

CSX Price Performance

Shares of NASDAQ:CSX opened at $35.13 on Wednesday. The company has a 50-day moving average price of $34.32 and a two-hundred day moving average price of $33.89. CSX has a twelve month low of $30.86 and a twelve month high of $40.12. 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 firm has a market capitalization of $67.75 billion, a PE ratio of 18.89, a P/E/G ratio of 2.32 and a beta of 1.19.

CSX (NASDAQ:CSX) last released 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 business had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.68 billion. During the same period last year, the business posted $0.42 earnings per share. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. Equities analysts forecast that CSX will post 1.84 EPS for the current year.

CSX Announces Dividend

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

Institutional Trading of CSX

A number of hedge funds have recently bought and sold shares of the company. State Street Corp boosted its position in CSX by 0.6% during the third quarter. State Street Corp now owns 82,250,713 shares of the transportation company’s stock valued at $2,840,117,000 after buying an additional 455,258 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of CSX by 0.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 65,251,716 shares of the transportation company’s stock valued at $2,418,883,000 after acquiring an additional 443,755 shares during the last quarter. Geode Capital Management LLC boosted its holdings in CSX by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 40,906,826 shares of the transportation company’s stock valued at $1,407,087,000 after acquiring an additional 190,346 shares during the period. Fisher Asset Management LLC grew its position in CSX by 3.6% during the 3rd quarter. Fisher Asset Management LLC now owns 24,656,931 shares of the transportation company’s stock worth $851,404,000 after acquiring an additional 857,302 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in CSX by 6.6% in 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 purchasing an additional 1,060,204 shares during the period. Institutional investors 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.