CSX (NASDAQ:CSX) Price Target Lowered to $36.00 at Citigroup

CSX (NASDAQ:CSX) had its target price cut by Citigroup from $39.00 to $36.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have a buy rating on the transportation company’s stock.

Several other equities analysts have also recently commented on CSX. Royal Bank of Canada cut their target price on shares of CSX from $34.00 to $33.00 and set a “sector perform” rating for the company in a research note on Friday, January 24th. Stephens reaffirmed an “overweight” rating and set a $38.00 price objective on shares of CSX in a research report on Friday, January 24th. Robert W. Baird decreased their target price on CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. Barclays cut their price target on CSX from $38.00 to $35.00 and set an “overweight” rating for the company in a report on Wednesday, April 2nd. Finally, Raymond James reissued an “outperform” rating and set a $37.00 price objective (down previously from $38.00) on shares of CSX in a report on Friday, January 24th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, CSX currently has an average rating of “Moderate Buy” and a consensus price target of $36.05.

CSX Trading Down 1.5 %

Shares of NASDAQ:CSX opened at $26.69 on Tuesday. CSX has a 52-week low of $26.22 and a 52-week high of $37.10. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. The company has a market cap of $50.30 billion, a P/E ratio of 14.91, a P/E/G ratio of 1.92 and a beta of 1.23. The stock’s 50-day moving average is $30.94 and its 200-day moving average is $32.87.

CSX (NASDAQ:CSX) last issued its quarterly earnings results 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 return on equity of 28.15% and a net margin of 23.95%. Equities research analysts predict that CSX will post 1.83 earnings per share for the current 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 given a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, February 28th. This is a positive change from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a yield of 1.95%. CSX’s dividend payout ratio is 29.05%.

Institutional Investors Weigh In On CSX

Hedge funds and other institutional investors have recently bought and sold shares of the business. Rehmann Capital Advisory Group raised its stake in shares of CSX by 1.3% in the third quarter. Rehmann Capital Advisory Group now owns 23,990 shares of the transportation company’s stock worth $830,000 after acquiring an additional 306 shares during the last quarter. Joel Isaacson & Co. LLC raised its position in CSX by 2.4% in the 4th quarter. Joel Isaacson & Co. LLC now owns 13,036 shares of the transportation company’s stock worth $421,000 after purchasing an additional 310 shares during the last quarter. Patrick M Sweeney & Associates Inc. lifted its holdings in CSX by 1.0% during the 4th quarter. Patrick M Sweeney & Associates Inc. now owns 31,827 shares of the transportation company’s stock worth $1,027,000 after buying an additional 313 shares in the last quarter. West Branch Capital LLC boosted its position in CSX by 3.3% in the 4th quarter. West Branch Capital LLC now owns 10,317 shares of the transportation company’s stock valued at $333,000 after buying an additional 332 shares during the last quarter. Finally, Alhambra Investment Management LLC increased its stake in shares of CSX by 4.3% in the 4th quarter. Alhambra Investment Management LLC now owns 8,292 shares of the transportation company’s stock valued at $268,000 after buying an additional 342 shares during the period. 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.