CSX (NASDAQ:CSX) Downgraded by BidaskClub to “Sell”

BidaskClub lowered shares of CSX (NASDAQ:CSX) from a hold rating to a sell rating in a research report report published on Wednesday, June 26th, BidAskClub reports.

CSX has been the topic of a number of other research reports. TD Securities cut shares of Western Forest Products from a buy rating to a hold rating and lowered their price target for the stock from C$2.25 to C$2.00 in a report on Wednesday, April 17th. BMO Capital Markets assumed coverage on Yelp in a research note on Wednesday, April 17th. They issued an outperform rating for the company. Susquehanna Bancshares restated a neutral rating on shares of CSX in a research note on Wednesday, April 3rd. UBS Group reaffirmed a buy rating on shares of Cie Gnrl des Etblsmnts Michelin SCA in a research report on Friday, April 5th. Finally, Zacks Investment Research downgraded HANNOVER RUECK/S from a hold rating to a sell rating in a research report on Monday, April 22nd. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $78.13.

CSX stock traded up $0.45 during trading hours on Wednesday, hitting $71.83. 13,341,952 shares of the stock were exchanged, compared to its average volume of 4,768,498. CSX has a 12 month low of $58.47 and a 12 month high of $80.73. The stock has a 50-day moving average of $77.34. The stock has a market capitalization of $64.37 billion, a PE ratio of 18.71, a P/E/G ratio of 1.33 and a beta of 1.22. The company has a quick ratio of 1.68, a current ratio of 1.81 and a debt-to-equity ratio of 1.27.

CSX (NASDAQ:CSX) last issued its earnings results on Tuesday, July 16th. The transportation company reported $1.08 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.11 by ($0.03). The firm had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.14 billion. CSX had a net margin of 27.87% and a return on equity of 26.63%. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.01 EPS. As a group, sell-side analysts expect that CSX will post 4.3 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend is Thursday, August 29th. CSX’s dividend payout ratio is currently 25.00%.

In other news, EVP Nathan D. Goldman sold 7,000 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $79.50, for a total transaction of $556,500.00. Following the sale, the executive vice president now owns 79,697 shares in the company, valued at $6,335,911.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.83% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Liberty Wealth Management LLC bought a new position in shares of CSX in the 4th quarter valued at about $28,000. Berman Capital Advisors LLC purchased a new position in CSX during the 4th quarter worth approximately $35,000. IMA Wealth Inc. purchased a new position in CSX during the 1st quarter worth approximately $35,000. Destination Wealth Management purchased a new position in CSX during the 1st quarter worth approximately $36,000. Finally, Riverview Trust Co purchased a new position in CSX during the 4th quarter worth approximately $39,000. 75.74% of the stock is currently 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, as well as transports intermodal containers and trailers. It transports chemicals, automotive, agricultural and food products, minerals, fertilizers, forest products, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.

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Analyst Recommendations for CSX (NASDAQ:CSX)

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