CSX (NASDAQ:CSX) Given New $41.00 Price Target at Barclays

CSX (NASDAQ:CSX) had its price target lifted by Barclays from $40.00 to $41.00 in a report published on Wednesday,Benzinga reports. Barclays currently has an overweight rating on the transportation company’s stock.

CSX has been the subject of a number of other research reports. BMO Capital Markets cut their price objective on shares of CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Wells Fargo & Company reduced their price objective on CSX from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Thursday, October 17th. JPMorgan Chase & Co. boosted their price objective on CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. Royal Bank of Canada reduced their target price on CSX from $36.00 to $35.00 and set a “sector perform” rating for the company in a research report on Thursday, October 17th. Finally, Citigroup boosted their price target on shares of CSX from $42.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $38.78.

CSX Price Performance

Shares of NASDAQ:CSX opened at $35.13 on Wednesday. The company has a market cap of $67.75 billion, a price-to-earnings ratio of 18.89, a PEG ratio of 2.32 and a beta of 1.19. The business has a 50 day moving average price of $34.32 and a 200 day moving average price of $33.89. The company has a quick ratio of 1.23, a current ratio of 1.39 and a debt-to-equity ratio of 1.43. CSX has a twelve month low of $30.86 and a twelve month high of $40.12.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.02). CSX had a net margin of 24.77% and a return on equity of 28.92%. The business had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.68 billion. During the same period in the prior year, the company posted $0.42 earnings per share. The firm’s revenue was up 1.3% compared to the same quarter last year. Research analysts predict that CSX will post 1.84 earnings per share for the current year.

CSX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a dividend of $0.12 per share. The ex-dividend date is Friday, November 29th. This represents a $0.48 dividend on an annualized basis and a yield of 1.37%. CSX’s dividend payout ratio is 25.81%.

Hedge Funds Weigh In On CSX

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC lifted its holdings in CSX by 0.5% during the 3rd 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. Brophy Wealth Management LLC bought a new stake in shares of CSX during the third quarter worth $414,000. Conway Capital Management Inc. acquired a new position in shares of CSX during the third quarter valued at $1,347,000. Continuum Advisory LLC lifted its stake in shares of CSX by 6.1% during the third quarter. Continuum Advisory LLC now owns 25,259 shares of the transportation company’s stock valued at $900,000 after acquiring an additional 1,449 shares during the period. Finally, Nomura Asset Management Co. Ltd. boosted its holdings in CSX by 6.8% in the third quarter. Nomura Asset Management Co. Ltd. now owns 653,025 shares of the transportation company’s stock valued at $22,549,000 after acquiring an additional 41,547 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.