CSX (NASDAQ:CSX) Cut to Neutral at Bank of America

Bank of America lowered shares of CSX (NASDAQ:CSX) from a buy rating to a neutral rating in a research note issued to investors on Monday, Marketbeat.com reports. The brokerage currently has $37.00 price target on the transportation company’s stock.

Other analysts also recently issued reports about the stock. Jefferies Financial Group decreased their price objective on shares of CSX from $40.00 to $38.00 and set a hold rating on the stock in a research report on Thursday, April 18th. Royal Bank of Canada cut their price target on shares of CSX from $37.00 to $36.00 and set a sector perform rating on the stock in a report on Thursday, April 18th. Stifel Nicolaus upped their price objective on shares of CSX from $37.00 to $39.00 and gave the stock a buy rating in a research note on Friday, April 12th. UBS Group cut their price target on CSX from $46.00 to $44.00 and set a buy rating on the stock in a report on Thursday, April 18th. Finally, Wells Fargo & Company started coverage on shares of CSX in a research note on Friday, June 7th. They set an equal weight rating and a $35.00 price objective for the company. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $37.39.

CSX Stock Up 2.5 %

Shares of NASDAQ CSX opened at $33.74 on Monday. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.15 and a quick ratio of 1.00. The company has a 50-day moving average price of $33.37 and a 200-day moving average price of $35.07. The stock has a market capitalization of $65.96 billion, a P/E ratio of 18.54, a P/E/G ratio of 1.73 and a beta of 1.20. CSX has a 1 year low of $29.03 and a 1 year high of $40.12.

CSX (NASDAQ:CSX) last posted its earnings results on Wednesday, April 17th. The transportation company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.45 by $0.01. CSX had a net margin of 24.75% and a return on equity of 29.58%. The firm had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.66 billion. During the same quarter last year, the firm earned $0.48 EPS. The company’s quarterly revenue was down .8% compared to the same quarter last year. On average, equities research analysts forecast that CSX will post 1.95 EPS for the current fiscal year.

CSX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were paid a $0.12 dividend. The ex-dividend date was Friday, May 31st. This represents a $0.48 annualized dividend and a dividend yield of 1.42%. CSX’s dividend payout ratio is currently 26.37%.

Hedge Funds Weigh In On CSX

A number of large investors have recently made changes to their positions in the business. Fortitude Family Office LLC bought a new stake in shares of CSX during the 4th quarter worth about $27,000. Life Planning Partners Inc acquired a new position in CSX during the 4th quarter worth $27,000. Financial Synergies Wealth Advisors Inc. bought a new stake in CSX during the first quarter valued at about $29,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of CSX in the fourth quarter valued at about $34,000. Finally, Burkett Financial Services LLC bought a new position in shares of CSX in the fourth quarter worth about $34,000. Institutional investors and hedge funds own 73.57% of the company’s stock.

CSX Company Profile

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.