CSX (NASDAQ:CSX) Price Target Lowered to $33.00 at Jefferies Financial Group

CSX (NASDAQ:CSX - Free Report) had its price objective trimmed by Jefferies Financial Group from $37.00 to $33.00 in a report released on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the transportation company's stock.

Several other research firms have also issued reports on CSX. Deutsche Bank Aktiengesellschaft started coverage on CSX in a research note on Friday, March 7th. They set a "hold" rating and a $34.00 price objective for the company. Raymond James reiterated an "outperform" rating and issued a $37.00 target price (down from $38.00) on shares of CSX in a research report on Friday, January 24th. JPMorgan Chase & Co. cut their price objective on CSX from $38.00 to $37.00 and set an "overweight" rating for the company in a report on Friday, January 24th. Citigroup decreased their price objective on CSX from $39.00 to $36.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Finally, Barclays cut their target price on CSX from $38.00 to $35.00 and set an "overweight" rating for the company in a research note on Wednesday, April 2nd. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $35.55.

CSX Stock Performance

Shares of NASDAQ CSX traded up $0.20 during midday trading on Wednesday, hitting $28.21. The company's stock had a trading volume of 5,452,428 shares, compared to its average volume of 12,644,828. The firm has a market capitalization of $53.17 billion, a price-to-earnings ratio of 15.76, a P/E/G ratio of 1.92 and a beta of 1.23. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The stock has a fifty day moving average price of $30.58 and a 200 day moving average price of $32.71. CSX has a one year low of $26.22 and a one year high of $37.10.

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CSX (NASDAQ:CSX - Get Free Report) last announced its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share 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%. On average, research analysts forecast that CSX will post 1.83 EPS for the current fiscal year.

CSX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a $0.13 dividend. The ex-dividend date was Friday, February 28th. This is a positive change from CSX's previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 1.84%. CSX's dividend payout ratio is 29.05%.

Hedge Funds Weigh In On CSX

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of CSX during the 4th quarter worth approximately $27,000. Accredited Wealth Management LLC bought a new stake in shares of CSX during the fourth quarter valued at approximately $29,000. Fourth Dimension Wealth LLC purchased a new stake in CSX in the fourth quarter worth $29,000. SBI Securities Co. Ltd. bought a new position in CSX in the fourth quarter worth $31,000. Finally, Sierra Ocean LLC purchased a new position in CSX during the fourth quarter valued at $33,000. Hedge funds and other institutional investors own 73.57% 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; 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.