CSX (NASDAQ:CSX) Sets New 52-Week Low – Should You Sell?

CSX Co. (NASDAQ:CSX) shares hit a new 52-week low on Tuesday . The stock traded as low as $31.29 and last traded at $31.41, with a volume of 3610560 shares trading hands. The stock had previously closed at $31.93.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Jefferies Financial Group raised CSX from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research report on Friday, January 10th. JPMorgan Chase & Co. dropped their price target on shares of CSX from $38.00 to $37.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Wells Fargo & Company lowered their price objective on shares of CSX from $36.00 to $34.00 and set an “equal weight” rating for the company in a research note on Friday, January 24th. Barclays cut their target price on CSX from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. Finally, Raymond James restated an “outperform” rating and set a $37.00 price target (down from $38.00) on shares of CSX in a research note on Friday, January 24th. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $37.16.

CSX Stock Performance

The company has a market capitalization of $60.17 billion, a price-to-earnings ratio of 17.43, a price-to-earnings-growth 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 50-day simple moving average of $32.59 and a 200-day simple moving average of $33.69.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a return on equity of 28.15% and a net margin of 23.95%. On average, analysts anticipate that CSX Co. will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be given a $0.13 dividend. This is a positive change from CSX’s previous quarterly dividend of $0.12. The ex-dividend date is Friday, February 28th. This represents a $0.52 annualized dividend and a dividend yield of 1.67%. CSX’s dividend payout ratio (DPR) is presently 29.05%.

Institutional Investors Weigh In On CSX

Institutional investors and hedge funds have recently made changes to their positions in the company. Farther Finance Advisors LLC grew its position in shares of CSX by 11.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 8,254 shares of the transportation company’s stock valued at $285,000 after buying an additional 842 shares during the last quarter. Princeton Global Asset Management LLC grew its holdings in shares of CSX by 91.3% during the third quarter. Princeton Global Asset Management LLC now owns 3,061 shares of the transportation company’s stock valued at $106,000 after purchasing an additional 1,461 shares during the last quarter. Clear Creek Financial Management LLC raised its position in shares of CSX by 5.8% during the 3rd quarter. Clear Creek Financial Management LLC now owns 11,507 shares of the transportation company’s stock worth $397,000 after purchasing an additional 634 shares during the period. Janney Montgomery Scott LLC lifted its holdings in shares of CSX by 0.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 696,804 shares of the transportation company’s stock worth $24,061,000 after purchasing an additional 3,037 shares during the last quarter. Finally, Van ECK Associates Corp lifted its holdings in shares of CSX by 35.9% in the 3rd quarter. Van ECK Associates Corp now owns 956,778 shares of the transportation company’s stock worth $32,139,000 after purchasing an additional 252,592 shares during the last quarter. 73.57% of the stock is owned by institutional investors and hedge funds.

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.