CSX (NASDAQ:CSX) Lowered to Market Perform at Sanford C. Bernstein

Sanford C. Bernstein downgraded shares of CSX (NASDAQ:CSXGet Rating) from an outperform rating to a market perform rating in a report released on Wednesday morning, MarketBeat reports. Sanford C. Bernstein currently has $32.00 target price on the transportation company’s stock.

Other research analysts have also issued reports about the stock. Cowen dropped their price target on shares of CSX from $39.00 to $37.00 and set a market perform rating on the stock in a research report on Thursday, July 21st. UBS Group decreased their price target on CSX to $38.00 in a research report on Friday, July 22nd. Stifel Nicolaus raised CSX from a hold rating to a buy rating and cut their price objective for the stock from $39.00 to $37.00 in a research report on Friday, July 15th. They noted that the move was a valuation call. Stephens raised their target price on CSX from $34.00 to $35.00 and gave the company an overweight rating in a research report on Thursday, July 21st. Finally, JPMorgan Chase & Co. cut their price target on shares of CSX from $39.00 to $33.00 and set a neutral rating on the stock in a report on Tuesday, July 12th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $36.33.

CSX Price Performance

Shares of NASDAQ CSX opened at $31.23 on Wednesday. The stock has a market cap of $66.87 billion, a price-to-earnings ratio of 17.55, a PEG ratio of 1.71 and a beta of 1.21. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.01 and a current ratio of 1.16. CSX has a fifty-two week low of $27.59 and a fifty-two week high of $38.63. The firm’s 50-day simple moving average is $31.82 and its 200 day simple moving average is $32.82.

CSX (NASDAQ:CSXGet Rating) last issued its quarterly earnings data on Wednesday, July 20th. The transportation company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.47 by $0.03. CSX had a return on equity of 29.07% and a net margin of 28.24%. The firm had revenue of $3.82 billion during the quarter, compared to the consensus estimate of $3.67 billion. During the same period in the prior year, the business posted $0.40 earnings per share. The company’s quarterly revenue was up 27.8% compared to the same quarter last year. As a group, research analysts anticipate that CSX will post 1.89 earnings per share for the current fiscal year.

CSX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Wednesday, August 31st will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend is Tuesday, August 30th. CSX’s payout ratio is 22.47%.

Institutional Trading of CSX

Institutional investors and hedge funds have recently modified their holdings of the business. Envestnet Asset Management Inc. increased its stake in CSX by 8.1% in the first quarter. Envestnet Asset Management Inc. now owns 1,018,634 shares of the transportation company’s stock valued at $38,148,000 after acquiring an additional 76,499 shares during the last quarter. MBL Wealth LLC purchased a new position in shares of CSX during the 1st quarter valued at about $223,000. KBC Group NV lifted its position in CSX by 14.4% in the 1st quarter. KBC Group NV now owns 183,451 shares of the transportation company’s stock worth $6,870,000 after buying an additional 23,127 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in CSX by 2.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 1,858,620 shares of the transportation company’s stock worth $69,722,000 after buying an additional 43,570 shares in the last quarter. Finally, Csenge Advisory Group bought a new position in CSX during the first quarter valued at approximately $389,000. Hedge funds and other institutional investors own 73.60% 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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