Stifel Nicolaus Issues Pessimistic Forecast for CSX (NASDAQ:CSX) Stock Price

CSX (NASDAQ:CSX) had its price target reduced by Stifel Nicolaus from $37.00 to $34.00 in a research note published on Monday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the transportation company’s stock.

A number of other equities research analysts also recently issued reports on CSX. Robert W. Baird cut their price target on CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. BMO Capital Markets decreased their price target on shares of CSX from $40.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. Susquehanna dropped their price target on shares of CSX from $39.00 to $37.00 and set a “positive” rating on the stock in a research note on Thursday, March 27th. JPMorgan Chase & Co. reduced their price objective on CSX from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Friday, January 24th. Finally, UBS Group cut their price target on CSX from $39.00 to $36.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, CSX presently has an average rating of “Moderate Buy” and a consensus price target of $35.55.

CSX Stock Performance

Shares of CSX stock opened at $28.27 on Monday. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. The company has a 50 day moving average price of $30.49 and a 200-day moving average price of $32.67. CSX has a 52 week low of $26.22 and a 52 week high of $37.10. The firm has a market capitalization of $53.28 billion, a PE ratio of 15.79, a P/E/G ratio of 1.92 and a beta of 1.23.

CSX (NASDAQ:CSX) last announced its earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a net margin of 23.95% and a return on equity of 28.15%. As a group, equities research analysts expect that CSX will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a $0.13 dividend. The ex-dividend date was Friday, February 28th. This is an increase from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.84%. CSX’s payout ratio is 29.05%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CSX. Wellington Management Group LLP lifted its stake in shares of CSX by 14.7% in the 4th quarter. Wellington Management Group LLP now owns 117,579 shares of the transportation company’s stock valued at $3,794,000 after purchasing an additional 15,029 shares during the last quarter. Diversified Trust Co lifted its position in CSX by 180.7% in the fourth quarter. Diversified Trust Co now owns 72,197 shares of the transportation company’s stock worth $2,330,000 after buying an additional 46,473 shares during the last quarter. Marshall Financial Group LLC purchased a new position in CSX during the fourth quarter worth $1,084,000. Carnegie Investment Counsel increased its position in CSX by 1.4% during the fourth quarter. Carnegie Investment Counsel now owns 612,051 shares of the transportation company’s stock valued at $19,751,000 after acquiring an additional 8,474 shares during the last quarter. Finally, Waycross Partners LLC raised its stake in shares of CSX by 7.0% in the fourth quarter. Waycross Partners LLC now owns 619,471 shares of the transportation company’s stock valued at $19,990,000 after acquiring an additional 40,611 shares during the period. 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.