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

CSX Co. (NASDAQ:CSX)’s share price hit a new 52-week low during trading on Thursday . The company traded as low as $31.74 and last traded at $31.75, with a volume of 2332821 shares changing hands. The stock had previously closed at $32.08.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Evercore ISI decreased their price target on shares of CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Stephens lowered their price objective on CSX from $41.00 to $39.00 and set an “overweight” rating on the stock in a report on Thursday, October 17th. TD Cowen cut their target price on CSX from $36.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, October 17th. Stifel Nicolaus decreased their price target on CSX from $39.00 to $37.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. Finally, Wells Fargo & Company cut their price objective on CSX from $35.00 to $34.00 and set an “equal weight” rating for the company in a research report on Thursday, October 17th. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, CSX has a consensus rating of “Moderate Buy” and an average price target of $38.78.

CSX Stock Performance

The firm has a fifty day moving average price of $34.57 and a 200 day moving average price of $34.04. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.39 and a quick ratio of 1.23. The firm has a market capitalization of $61.42 billion, a PE ratio of 17.12, a P/E/G ratio of 2.24 and a beta of 1.20.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). The firm had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.68 billion. CSX had a return on equity of 28.92% and a net margin of 24.77%. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.42 EPS. Research analysts anticipate that CSX Co. will post 1.84 earnings per share for the current fiscal year.

CSX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend was Friday, November 29th. CSX’s dividend payout ratio (DPR) is currently 25.81%.

Institutional Investors Weigh In On CSX

Large investors have recently made changes to their positions in the company. State Street Corp raised its position in shares of CSX by 0.6% in the third quarter. State Street Corp now owns 82,250,713 shares of the transportation company’s stock valued at $2,840,117,000 after purchasing an additional 455,258 shares during the period. Geode Capital Management LLC lifted its position in CSX by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 40,906,826 shares of the transportation company’s stock worth $1,407,087,000 after acquiring an additional 190,346 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in CSX by 3.6% during the third quarter. Fisher Asset Management LLC now owns 24,656,931 shares of the transportation company’s stock valued at $851,404,000 after acquiring an additional 857,302 shares during the period. Bank of New York Mellon Corp grew its position in shares of CSX by 6.6% in the second quarter. Bank of New York Mellon Corp now owns 17,133,857 shares of the transportation company’s stock valued at $573,128,000 after purchasing an additional 1,060,204 shares during the last quarter. Finally, FMR LLC increased its stake in shares of CSX by 10.2% in the third quarter. FMR LLC now owns 15,612,862 shares of the transportation company’s stock worth $539,112,000 after purchasing an additional 1,447,651 shares during the period. 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.