CSX Co. (NASDAQ:CSX) Receives $37.00 Average Price Target from Brokerages

Shares of CSX Co. (NASDAQ:CSX) have earned an average recommendation of “Moderate Buy” from the twenty ratings firms that are presently covering the firm, Marketbeat reports. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $37.00.

Several research analysts have commented on the stock. Citigroup decreased their target price on shares of CSX from $40.00 to $39.00 and set a “buy” rating for the company in a report on Friday, January 24th. Jefferies Financial Group upgraded shares of CSX from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a report on Friday, January 10th. JPMorgan Chase & Co. decreased their target price on shares of CSX from $38.00 to $37.00 and set an “overweight” rating for the company in a report on Friday, January 24th. Raymond James reiterated an “outperform” rating and issued a $37.00 target price (down from $38.00) on shares of CSX in a report on Friday, January 24th. Finally, BMO Capital Markets decreased their target price on shares of CSX from $40.00 to $38.00 and set an “outperform” rating for the company in a report on Friday, January 24th.

Hedge Funds Weigh In On CSX

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Valley Wealth Managers Inc. raised its position in shares of CSX by 177.8% in the third quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 480 shares during the period. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of CSX in the fourth quarter valued at approximately $27,000. Accredited Wealth Management LLC bought a new position in shares of CSX in the fourth quarter valued at approximately $29,000. Fourth Dimension Wealth LLC bought a new position in shares of CSX in the fourth quarter valued at approximately $29,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of CSX in the fourth quarter valued at approximately $31,000. Institutional investors own 73.57% of the company’s stock.

CSX Price Performance

Shares of NASDAQ CSX opened at $30.33 on Tuesday. CSX has a twelve month low of $28.98 and a twelve month high of $38.03. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The company has a market capitalization of $57.46 billion, a price-to-earnings ratio of 16.94, a PEG ratio of 1.92 and a beta of 1.25. The firm has a 50-day moving average of $32.20 and a two-hundred day moving average of $33.46.

CSX (NASDAQ:CSX) last issued its quarterly 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, analysts expect that CSX will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

The firm also recently disclosed 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. This represents a $0.52 annualized dividend and a yield of 1.71%. 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. CSX’s dividend payout ratio (DPR) is presently 29.05%.

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.