Royal Bank of Canada Cuts CSX (NASDAQ:CSX) Price Target to $30.00

CSX (NASDAQ:CSX - Free Report) had its target price lowered by Royal Bank of Canada from $31.00 to $30.00 in a report issued on Thursday morning,Benzinga reports. The firm currently has a sector perform rating on the transportation company's stock.

CSX has been the subject of several other research reports. Robert W. Baird decreased their price target on shares of CSX from $39.00 to $38.00 and set an "outperform" rating for the company in a research note on Friday, January 24th. JPMorgan Chase & Co. decreased their target price on CSX from $38.00 to $37.00 and set an "overweight" rating for the company in a research report on Friday, January 24th. Citigroup dropped their price target on CSX from $39.00 to $36.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Loop Capital downgraded CSX from a "buy" rating to a "hold" rating and decreased their price objective for the company from $40.00 to $34.00 in a report on Monday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of CSX in a research note on Friday, March 7th. They issued a "hold" rating and a $34.00 price objective for the company. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, CSX currently has an average rating of "Moderate Buy" and a consensus price target of $33.95.

CSX Trading Up 1.1 %

CSX traded up $0.29 during trading hours on Thursday, reaching $27.64. 21,437,293 shares of the company's stock traded hands, compared to its average volume of 12,670,602. 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 firm has a 50-day moving average price of $30.07 and a 200 day moving average price of $32.48. CSX has a 52-week low of $26.22 and a 52-week high of $37.10. The firm has a market capitalization of $52.09 billion, a PE ratio of 15.44, a PEG ratio of 1.92 and a beta of 1.23.

CSX (NASDAQ:CSX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The transportation company reported $0.34 EPS for the quarter, missing analysts' consensus estimates of $0.39 by ($0.05). CSX had a return on equity of 28.15% and a net margin of 23.95%. The company had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.53 billion. As a group, sell-side analysts predict that CSX will post 1.83 EPS for the current fiscal year.

CSX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a dividend of $0.13 per share. This is a positive change from CSX's previous quarterly dividend of $0.12. The ex-dividend date was Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a yield of 1.88%. CSX's dividend payout ratio is presently 31.14%.

Institutional Investors Weigh In On CSX

A number of large investors have recently made changes to their positions in the stock. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in CSX during the 4th quarter valued at about $27,000. Accredited Wealth Management LLC acquired a new stake in CSX during the fourth quarter worth about $29,000. Fourth Dimension Wealth LLC purchased a new position in CSX during the fourth quarter valued at approximately $29,000. SBI Securities Co. Ltd. acquired a new position in CSX in the fourth quarter valued at approximately $31,000. Finally, Sierra Ocean LLC purchased a new stake in CSX in the 4th quarter worth approximately $33,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

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.