Raymond James Cuts CSX (NASDAQ:CSX) Price Target to $34.00

CSX (NASDAQ:CSX) had its price objective trimmed by Raymond James from $37.00 to $34.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an outperform rating on the transportation company’s stock.

A number of other equities research analysts have also recently commented on CSX. Loop Capital cut CSX from a “buy” rating to a “hold” rating and reduced their price objective for the company from $40.00 to $34.00 in a research note on Monday, February 3rd. UBS Group cut their target price on CSX from $39.00 to $36.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. Deutsche Bank Aktiengesellschaft started coverage on shares of CSX in a research note on Friday, March 7th. They set a “hold” rating and a $34.00 price target for the company. Wells Fargo & Company dropped their price objective on shares of CSX from $34.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 27th. Finally, Robert W. Baird decreased their target price on shares of CSX from $39.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $35.70.

CSX Stock Up 0.7 %

Shares of NASDAQ CSX opened at $28.01 on Friday. 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’s 50 day moving average price is $30.58 and its 200-day moving average price is $32.71. The company has a market capitalization of $52.79 billion, a P/E ratio of 15.65, a price-to-earnings-growth ratio of 1.92 and a beta of 1.23.

CSX (NASDAQ:CSX) last released its 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 analysts forecast that CSX will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a $0.13 dividend. This is a positive change from CSX’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.52 annualized dividend and a yield of 1.86%. CSX’s payout ratio is currently 29.05%.

Institutional Investors Weigh In On CSX

Several large investors have recently modified their holdings of the stock. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in CSX during the fourth quarter valued at about $27,000. Accredited Wealth Management LLC bought a new stake in shares of CSX in the fourth quarter valued at approximately $29,000. Fourth Dimension Wealth LLC purchased a new stake in shares of CSX during the 4th quarter valued at approximately $29,000. SBI Securities Co. Ltd. bought a new position in CSX in the 4th quarter worth approximately $31,000. Finally, Sierra Ocean LLC bought a new stake in CSX during the 4th quarter valued at $33,000. Hedge funds and other institutional investors 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.