CSX (NASDAQ:CSX) Target Price Reduced to $40.00

On October 19th, 2024, CSX (NASDAQ:CSX) saw its target price downgraded by analysts at Susquehanna from $42.00 to $40.00, according to a research note shared with investors. Despite this adjustment, Susquehanna maintains a "positive" rating for CSX’s stock. The lowered price target indicates that there may be a potential upside of 17.23% based on the stock's current price.

Other financial firms have also recently provided their insights on CSX. Barclays reduced their target price from $41.00 to $40.00, while assigning an "overweight" rating to the stock in a report dated September 25th. Likewise, Loop Capital lowered its target from $43.00 to $42.00, maintaining a "buy" rating in their analysis. On October 9th, Citigroup began coverage on CSX, giving it a "buy" rating along with a target price of $42.00. Additionally, Evercore ISI adjusted their price target for CSX down from $38.00 to $37.00 while keeping an "outperform" rating. Finally, Stephens reaffirmed their "overweight" rating with a price objective set at $42.00, in a report released on August 6th. In total, seven analysts recommend holding onto the stock, while twelve others suggest buying it. As reported by MarketBeat.com, CSX holds a consensus rating of "Moderate Buy," along with a consensus price target of $38.61.

CSX Stock Overview

On Thursday, CSX opened at $34.12. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.16, and a quick ratio of 1.01. Over the past year, CSX shares reached a low of $29.03 and a high of $40.12. The 50-day simple moving average stands at $34.02, while the 200-day moving average is $33.97. Currently, CSX has a market capitalization of $66.70 billion, a price-to-earnings ratio of 18.75, a PEG ratio of 1.90, and a beta of 1.19.

Earnings Report and Expectations

CSX recently announced its earnings for the third quarter on October 16th. The company reported earnings of $0.46 per share for the quarter, which is slightly below the estimated consensus of $0.48, missing it by $0.02. Revenue for the quarter was $3.62 billion, again falling short of the expected $3.68 billion. CSX's net margin is 24.52%, with a return on equity of 29.11%. Year-over-year, the company’s revenue increased by 1.3%. Last year during the same period, the company reported earnings of $0.42 per share. Analysts project that CSX will achieve earnings of $1.93 per share in the current fiscal year.

Institutional Investor Activity

Recently, several hedge funds and institutional investors have adjusted their positions in CSX. For example, Itau Unibanco Holding S.A. bought a new stake in CSX valued at about $26,000 in the second quarter. Financial Synergies Wealth Advisors Inc. also picked up a new stake worth $29,000 in the first quarter. MFA Wealth Advisors LLC acquired $27,000 worth of CSX shares in the second quarter. Fairscale Capital LLC invested $32,000 in CSX shares during the same period. Additionally, Valued Wealth Advisors LLC raised its stake in CSX by 172.7% in the first quarter, now owning 938 shares which are valued at $35,000 after purchasing an extra 594 shares last quarter. Institutional investors and hedge funds collectively own 73.57% of CSX’s stock.

About CSX Corporation

CSX Corporation and its subsidiaries offer rail-based freight transportation services. The company provides rail logistics services, including the transportation of intermodal containers and trailers, alongside various transportation services such as rail-to-truck transfers and bulk commodity operations. CSX is involved in transporting a diverse range of products including chemicals, agricultural and food items, minerals, automotive goods, forest products, fertilizers, and metals, as well as coal, coke, and iron ore to power generation facilities, steel producers, and industrial plants. They also export coal through deep-water ports.

CSX, Stocks, Analysts