CSX (NASDAQ:CSX) Downgraded to Market Perform Rating by BMO Capital Markets

BMO Capital Markets cut shares of CSX (NASDAQ:CSX) from an outperform rating to a market perform rating in a research report report published on Monday, Marketbeat Ratings reports. BMO Capital Markets currently has $38.00 price target on the transportation company’s stock.

A number of other research firms have also weighed in on CSX. Barclays lifted their price objective on CSX from $36.00 to $38.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Baird R W upgraded CSX to a “strong-buy” rating in a research note on Tuesday, July 1st. The Goldman Sachs Group reiterated a “neutral” rating and set a $35.00 price objective on shares of CSX in a research note on Monday, June 2nd. Sanford C. Bernstein reiterated a “market perform” rating and set a $36.00 price objective (up previously from $33.00) on shares of CSX in a research note on Tuesday, July 8th. Finally, Susquehanna restated a “neutral” rating and issued a $35.00 price target on shares of CSX in a research note on Tuesday, June 24th. Eight investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, CSX has an average rating of “Moderate Buy” and an average price target of $37.00.

CSX Stock Performance

Shares of CSX stock opened at $35.99 on Monday. The firm has a market capitalization of $67.10 billion, a price-to-earnings ratio of 22.22, a price-to-earnings-growth ratio of 2.71 and a beta of 1.25. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.77 and a quick ratio of 0.63. The business has a fifty day moving average of $34.06 and a 200 day moving average of $31.57. CSX has a 1 year low of $26.22 and a 1 year high of $37.10.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. The business had revenue of $3.57 billion during the quarter, compared to analyst estimates of $3.57 billion. CSX had a return on equity of 25.48% and a net margin of 21.92%. The company’s revenue was down 3.5% on a year-over-year basis. During the same quarter last year, the business posted $0.49 EPS. As a group, research analysts expect that CSX will post 1.83 earnings per share for the current year.

CSX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, August 29th. CSX’s payout ratio is currently 32.10%.

Institutional Trading of CSX

Several institutional investors have recently made changes to their positions in CSX. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of CSX during the 2nd quarter valued at approximately $25,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of CSX during the 4th quarter valued at approximately $27,000. Rossby Financial LCC purchased a new stake in shares of CSX during the 1st quarter valued at approximately $28,000. WFA of San Diego LLC purchased a new stake in shares of CSX during the 2nd quarter valued at approximately $28,000. Finally, Accredited Wealth Management LLC purchased a new stake in shares of CSX during the 4th quarter valued at approximately $29,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

About CSX

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 also transports chemicals, agricultural and food products, minerals, automotive, 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.