CSX (NASDAQ:CSX) Cut to “Neutral” at Citigroup

CSX (NASDAQ:CSXGet Rating) was downgraded by equities research analysts at Citigroup from a “buy” rating to a “neutral” rating in a note issued to investors on Thursday, Briefing.com reports. They currently have a $35.00 target price on the transportation company’s stock, down from their prior target price of $45.00. Citigroup’s target price would suggest a potential upside of 8.29% from the company’s previous close.

Several other equities analysts have also recently issued reports on CSX. Susquehanna boosted their price target on shares of CSX from $44.00 to $45.00 and gave the company a “positive” rating in a research report on Thursday, April 21st. Morgan Stanley decreased their target price on CSX from $26.00 to $25.00 and set an “underweight” rating for the company in a research report on Friday, January 21st. TD Securities lowered CSX from a “buy” rating to a “hold” rating and dropped their price target for the company from $41.00 to $38.00 in a research report on Monday, April 18th. Wolfe Research decreased their price objective on CSX from $41.00 to $40.00 and set an “outperform” rating for the company in a report on Friday, January 21st. Finally, Cowen upped their target price on shares of CSX from $35.00 to $38.00 and gave the stock a “market perform” rating in a research report on Friday, January 21st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $38.45.

CSX opened at $32.32 on Thursday. CSX has a one year low of $29.49 and a one year high of $38.63. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.46 and a quick ratio of 1.32. The business has a 50 day simple moving average of $35.07 and a two-hundred day simple moving average of $35.38. The firm has a market capitalization of $70.27 billion, a price-to-earnings ratio of 18.36, a PEG ratio of 1.80 and a beta of 1.21.

CSX (NASDAQ:CSXGet Rating) last posted its earnings results on Wednesday, April 20th. The transportation company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.02. CSX had a return on equity of 27.47% and a net margin of 29.98%. The firm had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.31 billion. During the same period in the previous year, the firm earned $0.31 earnings per share. The business’s revenue was up 21.3% compared to the same quarter last year. As a group, sell-side analysts expect that CSX will post 1.82 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada raised its holdings in CSX by 294.9% in the 1st quarter. Royal Bank of Canada now owns 26,250,574 shares of the transportation company’s stock worth $983,085,000 after purchasing an additional 19,602,668 shares during the period. Norges Bank bought a new position in shares of CSX in the fourth quarter worth about $732,770,000. Capital World Investors grew its stake in shares of CSX by 4.4% during the 4th quarter. Capital World Investors now owns 184,488,460 shares of the transportation company’s stock valued at $6,936,719,000 after acquiring an additional 7,841,524 shares during the period. Third Point LLC purchased a new stake in CSX in the 1st quarter worth approximately $276,620,000. Finally, Soroban Capital Partners LP raised its stake in CSX by 22.8% during the 3rd quarter. Soroban Capital Partners LP now owns 39,572,504 shares of the transportation company’s stock worth $1,176,886,000 after acquiring an additional 7,338,924 shares during the period. Institutional investors and hedge funds own 74.81% of the company’s stock.

CSX Company Profile (Get Rating)

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It transports chemicals, agricultural and food products, automotive, minerals, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities.

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Analyst Recommendations for CSX (NASDAQ:CSX)

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