Credit Suisse Group Trims CSX (NASDAQ:CSX) Target Price to $86.00

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CSX (NASDAQ:CSX) had its price objective decreased by Credit Suisse Group from $92.00 to $86.00 in a report issued on Wednesday morning, The Fly reports. Credit Suisse Group currently has an outperform rating on the transportation company’s stock.

A number of other research firms also recently commented on CSX. BidaskClub downgraded shares of Zynerba Pharmaceuticals from a buy rating to a hold rating in a report on Wednesday, June 26th. Stephens reaffirmed an overweight rating and issued a $120.00 price objective on shares of TAKE-TWO INTERACTIVE SOFTWARE in a report on Wednesday. Stifel Nicolaus set a $80.00 price objective on shares of CSX and gave the stock a hold rating in a report on Wednesday, April 17th. Loop Capital downgraded shares of CSX from a buy rating to a hold rating and decreased their price objective for the stock from $85.00 to $81.00 in a report on Wednesday, July 10th. Finally, Morgan Stanley set a $60.00 price objective on shares of Berry Global Group and gave the stock a hold rating in a report on Wednesday, April 17th. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $78.13.

CSX stock opened at $70.31 on Wednesday. CSX has a twelve month low of $58.47 and a twelve month high of $80.73. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.55 and a quick ratio of 1.68. The firm has a market capitalization of $57.33 billion, a P/E ratio of 18.31, a P/E/G ratio of 1.25 and a beta of 1.22. The stock’s 50 day moving average is $77.20.

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

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

In other news, EVP Nathan D. Goldman sold 7,000 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were 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 owns 79,697 shares of the company’s stock, valued at $6,335,911.50. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 4.83% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC raised its stake in shares of CSX by 14.1% during the fourth quarter. FMR LLC now owns 23,161,058 shares of the transportation company’s stock valued at $1,438,997,000 after purchasing an additional 2,867,186 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of CSX by 0.5% during the first quarter. Janus Henderson Group PLC now owns 12,929,434 shares of the transportation company’s stock valued at $967,382,000 after purchasing an additional 60,234 shares in the last quarter. Egerton Capital UK LLP raised its stake in shares of CSX by 2.5% during the first quarter. Egerton Capital UK LLP now owns 12,140,980 shares of the transportation company’s stock valued at $908,388,000 after purchasing an additional 290,774 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of CSX by 6.6% during the fourth quarter. Geode Capital Management LLC now owns 10,386,802 shares of the transportation company’s stock valued at $644,194,000 after purchasing an additional 646,745 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of CSX during the fourth quarter valued at about $463,481,000. 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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