CSX (NASDAQ:CSX) Given New $36.00 Price Target at UBS Group

CSX (NASDAQ:CSX) had its target price lowered by UBS Group from $39.00 to $36.00 in a report issued on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the transportation company’s stock.

Other analysts also recently issued research reports about the stock. Benchmark reaffirmed a “buy” rating and set a $38.00 price target on shares of CSX in a research note on Monday, January 27th. Barclays cut their price target on CSX from $38.00 to $35.00 and set an “overweight” rating on the stock in a research note on Wednesday. Royal Bank of Canada cut their target price on shares of CSX from $34.00 to $33.00 and set a “sector perform” rating on the stock in a research report on Friday, January 24th. Raymond James reaffirmed an “outperform” rating and issued a $37.00 price target (down previously from $38.00) on shares of CSX in a research report on Friday, January 24th. Finally, Stephens reissued an “overweight” rating and issued a $38.00 price objective on shares of CSX in a research note on Friday, January 24th. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $36.20.

CSX Stock Performance

Shares of CSX stock opened at $29.74 on Wednesday. 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 stock’s fifty day moving average is $31.54 and its two-hundred day moving average is $33.12. CSX has a 52 week low of $28.78 and a 52 week high of $37.10. The company has a market capitalization of $56.05 billion, a PE ratio of 16.61, a price-to-earnings-growth ratio of 1.92 and a beta of 1.22.

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

CSX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid 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 dividend on an annualized basis and a yield of 1.75%. CSX’s dividend payout ratio (DPR) is 29.05%.

Institutional Trading of CSX

Large investors have recently added to or reduced their stakes in the company. Public Sector Pension Investment Board raised its position in CSX by 10.3% during the 3rd quarter. Public Sector Pension Investment Board now owns 82,276 shares of the transportation company’s stock worth $2,841,000 after buying an additional 7,700 shares during the last quarter. Erste Asset Management GmbH acquired a new stake in CSX during the 3rd quarter worth about $2,204,000. Benjamin Edwards Inc. raised its stake in shares of CSX by 485.7% during the 3rd quarter. Benjamin Edwards Inc. now owns 66,074 shares of the transportation company’s stock valued at $2,282,000 after buying an additional 54,792 shares during the last quarter. Hilltop Holdings Inc. acquired a new position in shares of CSX in the 3rd quarter valued at about $323,000. Finally, HighTower Advisors LLC boosted its stake in shares of CSX by 1.5% in the third quarter. HighTower Advisors LLC now owns 819,304 shares of the transportation company’s stock worth $28,274,000 after buying an additional 11,890 shares during the last quarter. 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.