Royal Bank of Canada Issues Pessimistic Forecast for CSX (NASDAQ:CSX) Stock Price

CSX (NASDAQ:CSX) had its price objective cut by Royal Bank of Canada from $34.00 to $33.00 in a research note issued to investors on Friday,Benzinga reports. They currently have a sector perform rating on the transportation company’s stock.

CSX has been the subject of a number of other research reports. Raymond James reissued an “outperform” rating and issued a $37.00 target price (down previously from $38.00) on shares of CSX in a research report on Friday. Evercore ISI reduced their target price on shares of CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Stifel Nicolaus cut their price objective on shares of CSX from $39.00 to $37.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. Robert W. Baird cut their price objective on shares of CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday. Finally, Wells Fargo & Company cut their price objective on shares of CSX from $36.00 to $34.00 and set an “equal weight” rating for the company in a research report on Friday. Six analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $37.68.

CSX Price Performance

NASDAQ:CSX opened at $32.69 on Friday. CSX has a one year low of $31.43 and a one year high of $40.12. The company has a market cap of $63.04 billion, a P/E ratio of 17.58, a P/E/G ratio of 2.06 and a beta of 1.22. The firm’s fifty day moving average price is $33.58 and its two-hundred day moving average price is $33.95. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.39 and a quick ratio of 1.23.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a net margin of 24.77% and a return on equity of 28.92%. Equities analysts expect that CSX will post 1.83 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CSX. Perpetual Ltd acquired a new position in shares of CSX in the fourth quarter valued at approximately $83,301,000. Assenagon Asset Management S.A. increased its position in CSX by 318.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 3,270,966 shares of the transportation company’s stock valued at $112,946,000 after purchasing an additional 2,489,329 shares during the period. FMR LLC increased its position in CSX by 10.2% during the 3rd quarter. FMR LLC now owns 15,612,862 shares of the transportation company’s stock valued at $539,112,000 after purchasing an additional 1,447,651 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its position in CSX by 275.3% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,854,075 shares of the transportation company’s stock valued at $62,019,000 after purchasing an additional 1,360,075 shares during the period. Finally, KBC Group NV increased its position in CSX by 616.4% during the 4th quarter. KBC Group NV now owns 1,114,542 shares of the transportation company’s stock valued at $35,966,000 after purchasing an additional 958,957 shares during the period. Institutional investors and hedge funds own 73.57% of the company’s stock.

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.