CSX (NASDAQ:CSX) Price Target Lowered to $34.00 at Wells Fargo & Company

CSX (NASDAQ:CSX) had its price target lowered by Wells Fargo & Company from $35.00 to $34.00 in a research note released on Thursday, Benzinga reports. The firm currently has an equal weight rating on the transportation company’s stock.

Other analysts have also recently issued research reports about the company. BMO Capital Markets dropped their price objective on CSX from $40.00 to $39.00 and set an “outperform” rating on the stock in a report on Thursday. Evercore ISI decreased their price objective on CSX from $38.00 to $37.00 and set an “outperform” rating on the stock in a report on Thursday. Susquehanna decreased their price objective on CSX from $42.00 to $40.00 and set a “positive” rating on the stock in a report on Thursday. Sanford C. Bernstein raised their price objective on CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a report on Monday, July 8th. Finally, Stephens reissued an “overweight” rating and set a $42.00 price objective on shares of CSX in a report on Tuesday, August 6th. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $38.61.

CSX Stock Performance

Shares of CSX opened at $33.09 on Thursday. The stock’s 50-day simple moving average is $34.02 and its 200 day simple moving average is $33.99. The stock has a market capitalization of $64.69 billion, a price-to-earnings ratio of 18.18, a price-to-earnings-growth ratio of 1.90 and a beta of 1.19. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.01 and a current ratio of 1.16. CSX has a 52-week low of $29.03 and a 52-week high of $40.12.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The company had revenue of $3.62 billion for the quarter, compared to analysts’ expectations of $3.68 billion. CSX had a return on equity of 29.11% and a net margin of 24.52%. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period last year, the company posted $0.42 EPS. Research analysts forecast that CSX will post 1.93 EPS for the current fiscal year.

CSX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s payout ratio is presently 26.37%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Itau Unibanco Holding S.A. purchased a new position in shares of CSX in the 2nd quarter valued at approximately $26,000. Financial Synergies Wealth Advisors Inc. purchased a new position in shares of CSX in the 1st quarter valued at approximately $29,000. MFA Wealth Advisors LLC purchased a new position in shares of CSX in the 2nd quarter valued at approximately $27,000. Fairscale Capital LLC purchased a new position in shares of CSX in the 2nd quarter valued at approximately $32,000. Finally, Valued Wealth Advisors LLC raised its stake in CSX by 172.7% during the first quarter. Valued Wealth Advisors LLC now owns 938 shares of the transportation company’s stock valued at $35,000 after buying an additional 594 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.