CSX (NASDAQ:CSX) was downgraded by investment analysts at Scotiabank from an “outperform” rating to a “sector perform” rating in a research report issued to clients and investors on Friday. They presently have a $43.00 price target on the transportation company’s stock. Scotiabank’s price target points to a potential downside of 27.43% from the company’s current price.
Several other analysts have also weighed in on the company. BidaskClub lowered CSX from a “hold” rating to a “sell” rating in a report on Thursday, November 2nd. UBS Group set a $68.00 price objective on CSX and gave the company a “buy” rating in a report on Friday, November 17th. Goldman Sachs Group started coverage on CSX in a report on Monday, November 13th. They issued a “sell” rating and a $45.00 price objective for the company. Zacks Investment Research lowered CSX from a “hold” rating to a “sell” rating in a report on Tuesday, September 26th. Finally, JPMorgan Chase & Co. boosted their price objective on CSX from $58.00 to $62.00 and gave the company an “overweight” rating in a report on Thursday, October 12th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and sixteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $57.28.
Shares of CSX (NASDAQ CSX) traded up $0.56 during trading on Friday, reaching $59.25. The company had a trading volume of 4,742,948 shares, compared to its average volume of 9,300,000. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.86 and a current ratio of 1.05. The company has a market capitalization of $52,950.00, a price-to-earnings ratio of 30.54, a P/E/G ratio of 1.59 and a beta of 1.35. CSX has a 1 year low of $36.21 and a 1 year high of $59.76.
CSX (NASDAQ:CSX) last announced its quarterly earnings data on Tuesday, October 17th. The transportation company reported $0.51 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.51. The firm had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.77 billion. CSX had a return on equity of 17.28% and a net margin of 15.45%. CSX’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.48 earnings per share. equities analysts anticipate that CSX will post 2.21 EPS for the current year.
CSX declared that its board has approved a stock buyback plan on Wednesday, October 25th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the transportation company to purchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.
In other CSX news, Director Gary Keith Anderson acquired 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 24th. The stock was acquired at an average cost of $2,300.00 per share, with a total value of $11,500,000.00. 4.79% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of CSX. Lord Abbett & CO. LLC grew its holdings in CSX by 29.5% in the 2nd quarter. Lord Abbett & CO. LLC now owns 2,479,799 shares of the transportation company’s stock worth $135,298,000 after buying an additional 565,529 shares in the last quarter. Cohen & Steers Inc. grew its holdings in CSX by 31.3% in the 3rd quarter. Cohen & Steers Inc. now owns 1,801,521 shares of the transportation company’s stock worth $97,751,000 after buying an additional 429,795 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in CSX by 10.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,518,838 shares of the transportation company’s stock worth $82,401,000 after buying an additional 149,208 shares in the last quarter. Parametric Portfolio Associates LLC grew its holdings in CSX by 4.5% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 2,642,057 shares of the transportation company’s stock worth $143,358,000 after buying an additional 113,493 shares in the last quarter. Finally, Cibc World Markets Corp grew its holdings in CSX by 105.7% in the 2nd quarter. Cibc World Markets Corp now owns 198,987 shares of the transportation company’s stock worth $10,857,000 after buying an additional 102,248 shares in the last quarter. 70.15% of the stock is owned by institutional investors and hedge funds.
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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.