CSX (NASDAQ:CSX) Sets New 1-Year Low – Here’s What Happened

CSX Co. (NASDAQ:CSX)’s share price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $31.74 and last traded at $31.75, with a volume of 2332821 shares. The stock had previously closed at $32.08.

Analysts Set New Price Targets

CSX has been the subject of several research analyst reports. BMO Capital Markets cut their target price on shares of CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. TD Cowen dropped their target price on CSX from $36.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, October 17th. Stifel Nicolaus reduced their price target on shares of CSX from $39.00 to $37.00 and set a “buy” rating on the stock in a research report on Thursday, October 17th. Citigroup raised their price objective on shares of CSX from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Finally, Susquehanna decreased their price target on CSX from $42.00 to $40.00 and set a “positive” rating on the stock in a research report on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $38.78.

CSX Trading Up 0.9 %

The business has a 50 day moving average of $34.57 and a 200 day moving average of $34.04. The firm has a market capitalization of $61.42 billion, a price-to-earnings ratio of 17.12, a PEG ratio of 2.24 and a beta of 1.20. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.39 and a quick ratio of 1.23.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.02). The firm had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.68 billion. CSX had a net margin of 24.77% and a return on equity of 28.92%. CSX’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period last year, the firm earned $0.42 EPS. As a group, research analysts predict that CSX Co. will post 1.84 earnings per share for the current fiscal year.

CSX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend was Friday, November 29th. CSX’s dividend payout ratio (DPR) is presently 25.81%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp boosted its stake in CSX by 0.6% in the 3rd quarter. State Street Corp now owns 82,250,713 shares of the transportation company’s stock worth $2,840,117,000 after purchasing an additional 455,258 shares during the period. Geode Capital Management LLC grew its holdings in shares of CSX by 0.5% during the third quarter. Geode Capital Management LLC now owns 40,906,826 shares of the transportation company’s stock worth $1,407,087,000 after buying an additional 190,346 shares in the last quarter. Fisher Asset Management LLC raised its position in CSX by 3.6% in the 3rd quarter. Fisher Asset Management LLC now owns 24,656,931 shares of the transportation company’s stock valued at $851,404,000 after buying an additional 857,302 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in CSX by 6.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 17,133,857 shares of the transportation company’s stock valued at $573,128,000 after acquiring an additional 1,060,204 shares in the last quarter. Finally, FMR LLC boosted its position in CSX by 10.2% during the 3rd quarter. FMR LLC now owns 15,612,862 shares of the transportation company’s stock worth $539,112,000 after acquiring an additional 1,447,651 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

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.