CSX (NASDAQ:CSX) Sets New 52-Week Low – Time to Sell?

CSX Co. (NASDAQ:CSX) shares reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $31.74 and last traded at $31.75, with a volume of 2332821 shares changing hands. The stock had previously closed at $32.08.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Wells Fargo & Company reduced their price target on shares of CSX from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 17th. TD Cowen dropped their target price on shares of CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday, October 17th. Citigroup boosted their price target on shares of CSX from $42.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Susquehanna reduced their price objective on shares of CSX from $42.00 to $40.00 and set a “positive” rating for the company in a research note on Thursday, October 17th. Finally, Royal Bank of Canada dropped their target price on CSX from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 17th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $38.78.

CSX Trading Down 1.0 %

The stock’s fifty day simple moving average is $34.70 and its 200-day simple moving average is $34.07. 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 firm has a market cap of $61.23 billion, a PE ratio of 17.07, a PEG ratio of 2.24 and a beta of 1.20.

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

CSX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend was Friday, November 29th. CSX’s dividend payout ratio is presently 25.81%.

Institutional Investors Weigh In On CSX

Several hedge funds have recently bought and sold shares of CSX. Itau Unibanco Holding S.A. acquired a new position in CSX during the second quarter worth $26,000. Valley Wealth Managers Inc. increased its position in shares of CSX by 177.8% during the third quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock valued at $26,000 after acquiring an additional 480 shares during the last quarter. Morton Brown Family Wealth LLC acquired a new position in shares of CSX in the 3rd quarter worth approximately $31,000. Fairscale Capital LLC purchased a new position in shares of CSX during the 2nd quarter worth approximately $32,000. Finally, Strategic Financial Concepts LLC purchased a new position in shares of CSX during the 2nd quarter worth approximately $33,000. Hedge funds and other 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.