Susquehanna Cuts CSX (NASDAQ:CSX) Price Target to $37.00

CSX (NASDAQ:CSX) had its price objective lowered by Susquehanna from $39.00 to $37.00 in a research report report published on Thursday morning, Marketbeat.com reports. Susquehanna currently has a positive rating on the transportation company’s stock.

Several other equities research analysts have also recently issued reports on CSX. Royal Bank of Canada dropped their target price on shares of CSX from $34.00 to $33.00 and set a “sector perform” rating on the stock in a report on Friday, January 24th. Jefferies Financial Group upgraded CSX from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research note on Friday, January 10th. Robert W. Baird cut their price objective on CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a report on Friday, January 24th. Loop Capital downgraded CSX from a “buy” rating to a “hold” rating and cut their price target for the company from $40.00 to $34.00 in a research note on Monday, February 3rd. Finally, Citigroup reduced their price target on shares of CSX from $40.00 to $39.00 and set a “buy” rating for the company in a research report on Friday, January 24th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, CSX currently has an average rating of “Moderate Buy” and an average price target of $36.75.

CSX Stock Down 2.7 %

CSX stock opened at $29.11 on Thursday. The stock has a market capitalization of $54.86 billion, a P/E ratio of 16.26, a P/E/G ratio of 1.92 and a beta of 1.25. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23. CSX has a 1-year low of $28.98 and a 1-year high of $37.10. The business has a fifty day moving average price of $31.75 and a 200-day moving average price of $33.20.

CSX (NASDAQ:CSX) last posted its earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a net margin of 23.95% and a return on equity of 28.15%. Equities analysts forecast that CSX will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a $0.13 dividend. The ex-dividend date of this dividend was Friday, February 28th. This is a boost from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a yield of 1.79%. CSX’s payout ratio is currently 29.05%.

Institutional Investors Weigh In On CSX

A number of institutional investors have recently added to or reduced their stakes in CSX. Larson Financial Group LLC increased its holdings in CSX by 20.2% in the 3rd quarter. Larson Financial Group LLC now owns 5,957 shares of the transportation company’s stock valued at $206,000 after acquiring an additional 1,000 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of CSX by 4.3% during the third quarter. The Manufacturers Life Insurance Company now owns 2,679,505 shares of the transportation company’s stock valued at $92,523,000 after purchasing an additional 109,422 shares in the last quarter. FMR LLC increased its holdings in shares of CSX by 10.2% in the third quarter. FMR LLC now owns 15,612,862 shares of the transportation company’s stock worth $539,112,000 after purchasing an additional 1,447,651 shares during the last quarter. Transamerica Financial Advisors Inc. bought a new stake in shares of CSX in the third quarter worth about $66,000. Finally, Townsquare Capital LLC lifted its position in shares of CSX by 8.2% in the third quarter. Townsquare Capital LLC now owns 221,010 shares of the transportation company’s stock worth $7,631,000 after buying an additional 16,772 shares in the last quarter. 73.57% of the stock is 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.