CSX (NASDAQ:CSX) Sets New 52-Week Low – Here’s Why

CSX Co. (NASDAQ:CSX)’s stock price reached a new 52-week low on Tuesday . The stock traded as low as $30.16 and last traded at $30.18, with a volume of 774493 shares trading hands. The stock had previously closed at $30.65.

Analyst Ratings Changes

CSX has been the topic of a number of recent research reports. BMO Capital Markets cut their price target on CSX from $40.00 to $38.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Barclays cut their price target on CSX from $40.00 to $38.00 and set an “overweight” rating on the stock in a research note on Friday, January 24th. Citigroup cut their price target on CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Stephens reissued an “overweight” rating and set a $38.00 price target on shares of CSX in a research note on Friday, January 24th. Finally, Loop Capital lowered CSX from a “buy” rating to a “hold” rating and cut their price target for the company from $40.00 to $34.00 in a research note on Monday, February 3rd. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.00.

CSX Stock Up 0.1 %

The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. The stock has a 50 day simple moving average of $32.34 and a 200 day simple moving average of $33.55. The stock has a market cap of $55.99 billion, a price-to-earnings ratio of 16.51, a PEG ratio of 1.92 and a beta of 1.25.

CSX (NASDAQ:CSX) last announced its earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a net margin of 23.95% and a return on equity of 28.15%. As a group, analysts expect that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, February 28th will be given a $0.13 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.52 annualized dividend and a yield of 1.76%. This is a boost from CSX’s previous quarterly dividend of $0.12. CSX’s payout ratio is currently 29.05%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CSX. Valley Wealth Managers Inc. raised its stake in shares of CSX by 177.8% during the 3rd quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 480 shares during the period. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of CSX during the 4th quarter valued at $27,000. Accredited Wealth Management LLC bought a new position in CSX in the 4th quarter worth about $29,000. Fourth Dimension Wealth LLC bought a new position in CSX in the 4th quarter worth about $29,000. Finally, SBI Securities Co. Ltd. bought a new position in CSX in the 4th quarter worth about $31,000. Hedge funds and other institutional investors 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.