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

CSX (NASDAQ:CSX) had its price target raised by Barclays from $40.00 to $41.00 in a research note released on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the transportation company’s stock.

CSX has been the subject of several other reports. BMO Capital Markets decreased their price target on shares of CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. TD Cowen decreased their price objective on CSX from $36.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, October 17th. Stephens lowered their target price on CSX from $41.00 to $39.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. Benchmark reiterated a “buy” rating and issued a $40.00 price target on shares of CSX in a research report on Wednesday, August 7th. Finally, Evercore ISI lowered their price objective on CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $38.78.

CSX Price Performance

CSX stock traded down $0.24 during midday trading on Wednesday, reaching $36.24. 499,349 shares of the stock were exchanged, compared to its average volume of 11,673,951. CSX has a 52 week low of $30.86 and a 52 week high of $40.12. The company has a fifty day moving average price of $34.26 and a 200 day moving average price of $33.87. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.39 and a quick ratio of 1.23. The stock has a market capitalization of $69.89 billion, a PE ratio of 19.61, a P/E/G ratio of 2.29 and a beta of 1.19.

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

CSX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.48 annualized dividend and a dividend yield of 1.32%. CSX’s dividend payout ratio is currently 25.81%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Valley Wealth Managers Inc. raised its holdings 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. bought a new stake in shares of CSX during the second quarter worth about $26,000. MFA Wealth Advisors LLC acquired a new stake in shares of CSX in the 2nd quarter worth about $27,000. Fairscale Capital LLC bought a new position in CSX in the 2nd quarter valued at about $32,000. Finally, Morton Brown Family Wealth LLC acquired a new position in CSX during the 3rd quarter valued at about $31,000. 73.57% of the stock is owned by institutional investors and hedge funds.

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.