Susquehanna Trims CSX (NASDAQ:CSX) Target Price to $40.00

CSX (NASDAQ:CSX) had its price target cut by Susquehanna from $42.00 to $40.00 in a research report released on Thursday morning, Benzinga reports. They currently have a positive rating on the transportation company’s stock.

A number of other equities research analysts also recently weighed in on CSX. Bank of America downgraded shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a research report on Monday, July 8th. Benchmark reiterated a “buy” rating and issued a $40.00 price target on shares of CSX in a research report on Wednesday, August 7th. Loop Capital dropped their price target on shares of CSX from $43.00 to $42.00 and set a “buy” rating for the company in a research report on Thursday. Evercore ISI dropped their price target on shares of CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a research report on Thursday. Finally, Stephens reiterated an “overweight” rating and issued a $42.00 price target on shares of CSX in a research report on Tuesday, August 6th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $38.61.

CSX Trading Down 6.7 %

Shares of NASDAQ:CSX opened at $33.09 on Thursday. CSX has a 12-month low of $29.03 and a 12-month high of $40.12. The stock has a market cap of $64.69 billion, a PE ratio of 18.18, a P/E/G ratio of 1.90 and a beta of 1.19. The business has a 50 day moving average of $34.02 and a 200-day moving average of $33.99. The company has a quick ratio of 1.01, a current ratio of 1.16 and a debt-to-equity ratio of 1.42.

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). CSX had a return on equity of 29.11% and a net margin of 24.52%. The firm had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.68 billion. During the same quarter in the prior year, the firm earned $0.42 EPS. The company’s revenue was up 1.3% on a year-over-year basis. As a group, equities research analysts forecast that CSX will post 1.93 earnings per share for the current year.

CSX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.48 annualized dividend and a dividend yield of 1.45%. CSX’s dividend payout ratio (DPR) is presently 26.37%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Itau Unibanco Holding S.A. bought a new stake in shares of CSX in the second quarter worth $26,000. MFA Wealth Advisors LLC bought a new stake in shares of CSX in the second quarter worth $27,000. Financial Synergies Wealth Advisors Inc. bought a new stake in shares of CSX in the first quarter worth $29,000. Fairscale Capital LLC bought a new stake in shares of CSX in the second quarter worth $32,000. Finally, Strategic Financial Concepts LLC bought a new stake in shares of CSX in the second quarter worth $33,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

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.