CSX (NASDAQ:CSX) was downgraded by investment analysts at Scotiabank from an “outperform” rating to a “sector perform” rating in a note issued to investors on Friday, January 12th, Marketbeat.com reports. They presently have a $43.00 price objective on the transportation company’s stock, down from their prior price objective of $63.00. Scotiabank’s price objective points to a potential downside of 22.17% from the stock’s current price.
CSX has been the topic of several other research reports. Robert W. Baird restated a “buy” rating and issued a $59.00 price target on shares of CSX in a research report on Tuesday, January 9th. Zacks Investment Research raised shares of CSX from a “sell” rating to a “hold” rating in a research note on Thursday, October 12th. TD Securities lowered shares of CSX from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $63.00 to $54.00 in a research note on Monday, December 18th. Credit Suisse Group raised their price objective on shares of CSX from $60.00 to $61.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 18th. Finally, BidaskClub lowered shares of CSX from a “hold” rating to a “sell” rating in a research note on Thursday, November 2nd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seventeen have assigned a buy rating to the company. CSX presently has a consensus rating of “Buy” and a consensus target price of $60.38.
CSX (NASDAQ CSX) opened at $55.25 on Friday. CSX has a 12 month low of $45.41 and a 12 month high of $60.04. The company has a current ratio of 1.01, a quick ratio of 0.86 and a debt-to-equity ratio of 0.80. The company has a market cap of $49,378.20, a P/E ratio of 9.10, a P/E/G ratio of 1.35 and a beta of 1.26.
CSX (NASDAQ:CSX) last posted its quarterly earnings data on Tuesday, January 16th. The transportation company reported $0.64 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.08. CSX had a net margin of 47.96% and a return on equity of 17.16%. The business had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.89 billion. During the same quarter last year, the business earned $0.49 earnings per share. The business’s revenue for the quarter was down 5.7% on a year-over-year basis. research analysts expect that CSX will post 3.07 EPS for the current fiscal year.
CSX declared that its board has initiated a stock repurchase 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 reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.
In related news, Director Gary Keith Anderson acquired 5,000 shares of the company’s stock in a transaction dated Friday, November 24th. The shares were bought at an average price of $2,300.00 per share, for a total transaction of $11,500,000.00. Insiders own 4.79% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. APG Asset Management N.V. increased its stake in CSX by 25.0% in the fourth quarter. APG Asset Management N.V. now owns 3,218,644 shares of the transportation company’s stock valued at $147,450,000 after purchasing an additional 644,500 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in CSX by 0.4% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 3,179,120 shares of the transportation company’s stock valued at $174,884,000 after purchasing an additional 12,684 shares in the last quarter. Parametric Portfolio Associates LLC increased its stake in CSX by 4.5% in the third quarter. Parametric Portfolio Associates LLC now owns 2,642,057 shares of the transportation company’s stock valued at $143,358,000 after purchasing an additional 113,493 shares in the last quarter. 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 in the last quarter. Finally, Cohen & Steers Inc. increased its stake in 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 purchasing an additional 429,795 shares in the last quarter. Institutional investors own 69.94% 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.
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