CSX (CSX) Downgraded to Hold at TD Securities

TD Securities downgraded shares of CSX (NASDAQ:CSX) from a buy rating to a hold rating in a research note released on Monday morning. They currently have $54.00 target price on the transportation company’s stock, down from their previous target price of $63.00.

Several other equities analysts also recently commented on CSX. UBS set a $68.00 target price on CSX and gave the company a buy rating in a research report on Sunday. ValuEngine downgraded CSX from a buy rating to a hold rating in a research report on Monday, October 2nd. Barclays reaffirmed a buy rating and issued a $68.00 target price on shares of CSX in a research report on Wednesday, December 13th. Scotiabank set a $55.00 target price on CSX and gave the company a buy rating in a research report on Friday. Finally, BidaskClub raised CSX from a sell rating to a hold rating in a research report on Wednesday, December 6th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and sixteen have issued a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $56.73.

CSX (NASDAQ CSX) opened at $53.59 on Monday. The firm has a market capitalization of $47,304.76, a P/E ratio of 24.62, a price-to-earnings-growth ratio of 1.63 and a beta of 1.35. The company has a current ratio of 1.05, a quick ratio of 0.86 and a debt-to-equity ratio of 1.08. CSX has a 12-month low of $35.59 and a 12-month high of $58.35.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Tuesday, October 17th. The transportation company reported $0.51 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.51. CSX had a return on equity of 17.28% and a net margin of 15.45%. The firm had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter in the previous year, the business earned $0.48 earnings per share. The business’s revenue was up 1.2% compared to the same quarter last year. equities analysts forecast that CSX will post 2.21 EPS for the current year.

CSX announced that its board has authorized a stock repurchase program on Wednesday, October 25th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the transportation company to repurchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Thursday, November 30th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend was Wednesday, November 29th. CSX’s payout ratio is presently 41.24%.

In other CSX news, Director Gary Keith Anderson bought 5,000 shares of the business’s stock in a transaction on Friday, November 24th. The stock was 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 corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Eaton Vance Management lifted its stake in shares of CSX by 6.9% in the 2nd 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 during the last quarter. Parametric Portfolio Associates LLC lifted its stake in shares of CSX by 4.5% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 2,642,057 shares of the transportation company’s stock valued at $143,358,000 after acquiring an additional 113,493 shares during the last quarter. Lord Abbett & CO. LLC lifted its stake in shares of CSX by 29.5% in the 2nd quarter. Lord Abbett & CO. LLC now owns 2,479,799 shares of the transportation company’s stock valued at $135,298,000 after acquiring an additional 565,529 shares during the last quarter. Cohen & Steers Inc. lifted its stake in shares of CSX by 31.3% in the 3rd 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 during the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in shares of CSX by 10.9% in the 3rd 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 during the last quarter. Institutional investors own 70.15% of the company’s stock.

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About CSX

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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