CSX (NASDAQ:CSX) PT Lowered to $81.00 at Raymond James

CSX (NASDAQ:CSX) had its target price lowered by Raymond James from $84.00 to $81.00 in a research note issued to investors on Wednesday morning, BenzingaRatingsTable reports. The brokerage currently has an outperform rating on the transportation company’s stock.

A number of other research firms have also commented on CSX. Loop Capital lowered CSX from a buy rating to a hold rating and dropped their price target for the stock from $85.00 to $81.00 in a research report on Wednesday, July 10th. Morgan Stanley set a $60.00 price target on Berry Global Group and gave the stock a hold rating in a research report on Wednesday, April 17th. SNS Securities lowered CSX from a positive rating to a neutral rating in a research report on Wednesday, April 3rd. ValuEngine lowered Acceleron Pharma from a strong-buy rating to a buy rating in a research report on Thursday, April 18th. Finally, Stifel Nicolaus set a $80.00 price target on CSX and gave the stock a hold rating in a research report on Wednesday, April 17th. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $78.13.

NASDAQ:CSX opened at $70.31 on Wednesday. CSX has a 1-year low of $58.47 and a 1-year high of $80.73. The firm has a 50-day moving average of $77.20. The company has a quick ratio of 1.68, a current ratio of 1.55 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $57.33 billion, a price-to-earnings ratio of 18.31, a price-to-earnings-growth ratio of 1.25 and a beta of 1.22.

CSX (NASDAQ:CSX) last released its earnings results on Tuesday, July 16th. The transportation company reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.11 by ($0.03). CSX had a net margin of 27.87% and a return on equity of 26.96%. The company had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.14 billion. During the same period in the previous year, the company posted $1.01 EPS. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. As a group, sell-side analysts expect that CSX will post 4.15 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be issued a dividend of $0.24 per share. The ex-dividend date is Thursday, August 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.37%. CSX’s payout ratio is presently 25.00%.

In related news, EVP Nathan D. Goldman sold 7,000 shares of the stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $79.50, for a total transaction of $556,500.00. Following the completion of the transaction, the executive vice president now directly owns 79,697 shares in the company, valued at $6,335,911.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 4.83% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its holdings in shares of CSX by 0.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,311,053 shares of the transportation company’s stock valued at $267,854,000 after buying an additional 30,225 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of CSX by 6.6% in the 4th quarter. Geode Capital Management LLC now owns 10,386,802 shares of the transportation company’s stock valued at $644,194,000 after buying an additional 646,745 shares in the last quarter. Brandywine Global Investment Management LLC boosted its holdings in shares of CSX by 20,305.3% in the 4th quarter. Brandywine Global Investment Management LLC now owns 142,633 shares of the transportation company’s stock valued at $8,862,000 after buying an additional 141,934 shares in the last quarter. Bronfman E.L. Rothschild L.P. boosted its holdings in shares of CSX by 4.0% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 4,023 shares of the transportation company’s stock valued at $250,000 after buying an additional 153 shares in the last quarter. Finally, Suntrust Banks Inc. boosted its holdings in shares of CSX by 15.2% in the 4th quarter. Suntrust Banks Inc. now owns 342,170 shares of the transportation company’s stock valued at $21,259,000 after buying an additional 45,146 shares in the last quarter. Institutional investors and hedge funds own 75.74% 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, as well as transports intermodal containers and trailers. It transports chemicals, automotive, agricultural and food products, minerals, fertilizers, forest products, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.

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Analyst Recommendations for CSX (NASDAQ:CSX)

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