Morgan Stanley Lowers CSX (CSX) Price Target to $47.00
CSX (NASDAQ:CSX) had its price target cut by Morgan Stanley from $51.00 to $47.00 in a research report report published on Friday. They currently have an underweight rating on the transportation company’s stock.
Other equities analysts have also issued reports about the stock. Scotiabank lowered shares of CSX from an outperform rating to a sector perform rating and decreased their price objective for the stock from $63.00 to $43.00 in a report on Friday, January 12th. BidaskClub upgraded shares of CSX from a hold rating to a buy rating in a report on Wednesday, January 10th. Zacks Investment Research upgraded shares of CSX from a hold rating to a buy rating and set a $65.00 price objective on the stock in a report on Friday, January 19th. Royal Bank of Canada upped their price objective on shares of CSX from $59.00 to $67.00 and gave the stock an outperform rating in a report on Tuesday, January 9th. They noted that the move was a valuation call. Finally, Citigroup restated a buy rating and issued a $64.00 price objective on shares of CSX in a report on Wednesday, January 17th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and eighteen have given a buy rating to the stock. The company has an average rating of Buy and a consensus price target of $60.71.
CSX (NASDAQ:CSX) opened at $54.78 on Friday. The company has a quick ratio of 0.81, a current ratio of 1.01 and a debt-to-equity ratio of 0.80. The firm has a market cap of $48,833.48, a PE ratio of 9.02, a price-to-earnings-growth ratio of 1.33 and a beta of 1.27. CSX has a fifty-two week low of $45.41 and a fifty-two week high of $60.04.
CSX announced that its Board of Directors has authorized a stock repurchase program on Monday, February 12th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the transportation company to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, March 1st will be paid a dividend of $0.22 per share. This is an increase from CSX’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend is Wednesday, February 28th. CSX’s dividend payout ratio is presently 14.50%.
Several large investors have recently made changes to their positions in CSX. First Command Financial Services Inc. increased its position in shares of CSX by 130.0% in the 4th quarter. First Command Financial Services Inc. now owns 2,123 shares of the transportation company’s stock valued at $117,000 after purchasing an additional 1,200 shares during the last quarter. Prentiss Smith & Co. Inc. purchased a new stake in shares of CSX in the 4th quarter valued at approximately $119,000. Icon Wealth Partners LLC purchased a new stake in shares of CSX in the 4th quarter valued at approximately $126,000. Front Row Advisors LLC purchased a new stake in shares of CSX in the 4th quarter valued at approximately $135,000. Finally, Pinebridge Investments L.P. increased its position in shares of CSX by 93.7% in the 4th quarter. Pinebridge Investments L.P. now owns 3,384 shares of the transportation company’s stock valued at $186,000 after purchasing an additional 1,637 shares during the last quarter. 74.77% of the stock is currently owned by institutional investors.
CSX Corporation is a transportation company. The Company provides rail-based freight transportation services, including traditional rail service and transport of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations.
Receive News & Ratings for CSX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CSX and related companies with MarketBeat.com's FREE daily email newsletter.