CSX (NASDAQ:CSX) Stock Rating Reaffirmed by Royal Bank of Canada

Royal Bank of Canada reissued their sector perform rating on shares of CSX (NASDAQ:CSX) in a report published on Tuesday morning, Benzinga reports. The brokerage currently has a $36.00 target price on the transportation company’s stock.

A number of other research analysts have also commented on the company. UBS Group decreased their price objective on CSX from $46.00 to $44.00 and set a buy rating on the stock in a research report on Thursday, April 18th. Sanford C. Bernstein lifted their price target on CSX from $35.00 to $36.00 and gave the stock a market perform rating in a report on Monday, July 8th. Susquehanna cut their price objective on shares of CSX from $44.00 to $40.00 and set a positive rating for the company in a research report on Tuesday, June 25th. Benchmark restated a buy rating and set a $40.00 price objective on shares of CSX in a research report on Thursday, April 18th. Finally, Bank of America downgraded shares of CSX from a buy rating to a neutral rating and set a $37.00 price objective for the company. in a research report on Monday, July 8th. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $38.80.

CSX Price Performance

Shares of CSX stock traded down $0.25 during trading hours on Tuesday, hitting $34.00. The company had a trading volume of 7,875,230 shares, compared to its average volume of 11,820,301. The firm has a market capitalization of $66.47 billion, a price-to-earnings ratio of 18.68, a PEG ratio of 1.89 and a beta of 1.20. CSX has a 12 month low of $29.03 and a 12 month high of $40.12. The firm’s fifty day moving average is $33.58 and its 200 day moving average is $35.01. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.00 and a current ratio of 1.15.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Monday, August 5th. The transportation company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. The business had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.70 billion. CSX had a return on equity of 29.58% and a net margin of 24.75%. CSX’s revenue for the quarter was up .0% on a year-over-year basis. During the same period in the prior year, the company earned $0.49 EPS. On average, sell-side analysts predict that CSX will post 1.94 EPS for the current fiscal year.

CSX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, August 30th. This represents a $0.48 annualized dividend and a yield of 1.41%. CSX’s dividend payout ratio is currently 26.37%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CSX. MFA Wealth Advisors LLC bought a new stake in shares of CSX during the second quarter worth $27,000. Financial Synergies Wealth Advisors Inc. bought a new stake in shares of CSX during the first quarter worth $29,000. Strategic Financial Concepts LLC bought a new stake in shares of CSX during the second quarter worth $33,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of CSX during the fourth quarter worth $34,000. Finally, Burkett Financial Services LLC bought a new stake in shares of CSX during the fourth quarter worth $34,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

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.