CSX (NASDAQ:CSX) Price Target Lowered to $37.00 at Evercore ISI

CSX (NASDAQ:CSX) had its price objective trimmed by Evercore ISI from $38.00 to $37.00 in a research note released on Thursday morning, Benzinga reports. The firm currently has an outperform rating on the transportation company’s stock.

A number of other brokerages have also weighed in on CSX. Sanford C. Bernstein upped their price objective on CSX from $35.00 to $36.00 and gave the stock a “market perform” rating in a report on Monday, July 8th. Stephens reaffirmed an “overweight” rating and set a $42.00 price objective on shares of CSX in a report on Tuesday, August 6th. Barclays dropped their price objective on CSX from $41.00 to $40.00 and set an “overweight” rating on the stock in a report on Wednesday, September 25th. BMO Capital Markets reaffirmed an “outperform” rating and set a $40.00 price objective on shares of CSX in a report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. upped their target price on CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a report on Tuesday, August 6th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $38.61.

CSX Price Performance

CSX stock opened at $33.09 on Thursday. CSX has a 12 month low of $29.03 and a 12 month high of $40.12. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.16 and a quick ratio of 1.01. The business has a 50 day simple moving average of $34.02 and a 200-day simple moving average of $33.99. The stock has a market capitalization of $64.69 billion, a PE ratio of 18.18, a price-to-earnings-growth ratio of 1.90 and a beta of 1.19.

CSX (NASDAQ:CSX) last announced its quarterly earnings data 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 29.11% and a net margin of 24.52%. The business had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.68 billion. During the same period in the prior year, the company earned $0.42 EPS. The company’s revenue was up 1.3% on a year-over-year basis. Equities analysts predict that CSX will post 1.93 earnings per share for the current year.

CSX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date is Friday, November 29th. CSX’s payout ratio is currently 26.37%.

Hedge Funds Weigh In On CSX

Several large investors have recently added to or reduced their stakes in CSX. Itau Unibanco Holding S.A. purchased a new position in CSX during the second quarter worth about $26,000. MFA Wealth Advisors LLC purchased a new position in CSX during the second quarter worth about $27,000. Financial Synergies Wealth Advisors Inc. purchased a new position in shares of CSX in the 1st quarter worth about $29,000. Fairscale Capital LLC purchased a new position in shares of CSX in the 2nd quarter worth about $32,000. Finally, Strategic Financial Concepts LLC purchased a new position in shares of CSX in the 2nd quarter worth about $33,000. 73.57% of the stock is currently 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.