CSX (CSX) Upgraded to “Hold” at BidaskClub

BidaskClub upgraded shares of CSX (NASDAQ:CSX) from a sell rating to a hold rating in a report published on Wednesday.

Several other equities analysts have also recently commented on the stock. UBS set a $68.00 price target on shares of CSX and gave the company a buy rating in a research report on Friday, November 17th. Credit Suisse Group decreased their price target on shares of CSX from $61.00 to $60.00 and set an outperform rating for the company in a research report on Thursday, September 7th. Goldman Sachs Group started coverage on shares of CSX in a research report on Monday, November 13th. They issued a sell rating and a $45.00 price target for the company. Zacks Investment Research cut shares of CSX from a hold rating to a sell rating in a research report on Tuesday, September 26th. Finally, BMO Capital Markets reaffirmed a buy rating on shares of CSX in a research report on Wednesday, August 30th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have assigned a buy rating to the company. CSX has an average rating of Buy and a consensus price target of $56.95.

Shares of CSX (CSX) traded down $0.16 during mid-day trading on Wednesday, reaching $55.63. 5,744,600 shares of the company’s stock traded hands, compared to its average volume of 8,532,604. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.05 and a quick ratio of 0.86. CSX has a 52 week low of $35.59 and a 52 week high of $58.25. The stock has a market cap of $49,860.81, a PE ratio of 25.95, a PEG ratio of 1.72 and a beta of 1.35.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Tuesday, October 17th. The transportation company reported $0.51 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.51. CSX had a net margin of 15.45% and a return on equity of 17.28%. The company had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.77 billion. During the same quarter last year, the company posted $0.48 EPS. The firm’s revenue was up 1.2% compared to the same quarter last year. sell-side analysts predict that CSX will post 2.22 earnings per share for the current fiscal year.

CSX announced that its Board of Directors has approved a stock buyback program on Wednesday, October 25th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the transportation company to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be paid a dividend of $0.20 per share. The ex-dividend date is Wednesday, November 29th. This represents a $0.80 annualized dividend and a yield of 1.44%. CSX’s dividend payout ratio is currently 41.24%.

In related news, Director Gary Keith Anderson purchased 5,000 shares of the business’s stock in a transaction that occurred on Friday, November 24th. The shares were purchased at an average cost of $2,300.00 per share, for a total transaction of $11,500,000.00. 4.79% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of CSX. Lord Abbett & CO. LLC increased its stake in CSX by 29.5% in the second quarter. Lord Abbett & CO. LLC now owns 2,479,799 shares of the transportation company’s stock valued at $135,298,000 after purchasing an additional 565,529 shares during the period. Cohen & Steers Inc. boosted its holdings in shares of CSX by 31.3% in the third quarter. Cohen & Steers Inc. now owns 1,801,521 shares of the transportation company’s stock valued at $97,751,000 after acquiring an additional 429,795 shares in the last quarter. Eaton Vance Management boosted its holdings in shares of CSX by 6.9% in the second quarter. Eaton Vance Management now owns 5,126,177 shares of the transportation company’s stock valued at $279,684,000 after acquiring an additional 333,005 shares in the last quarter. Schroder Investment Management Group boosted its holdings in shares of CSX by 16.4% in the second quarter. Schroder Investment Management Group now owns 1,243,903 shares of the transportation company’s stock valued at $66,946,000 after acquiring an additional 175,540 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in shares of CSX by 10.9% in the third quarter. Russell Investments Group Ltd. now owns 1,518,838 shares of the transportation company’s stock valued at $82,401,000 after acquiring an additional 149,208 shares in the last quarter. Institutional investors own 70.24% of the company’s stock.

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CSX Company Profile

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.

Analyst Recommendations for CSX (NASDAQ:CSX)

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