CSX (NASDAQ:CSX) Downgraded by Bank of America

Bank of America downgraded shares of CSX (NASDAQ:CSX) from a buy rating to a neutral rating in a research note issued to investors on Monday morning, MarketBeat reports. They currently have $37.00 target price on the transportation company’s stock.

Other equities analysts also recently issued research reports about the company. Benchmark reiterated a buy rating and issued a $40.00 price objective on shares of CSX in a research note on Thursday, April 18th. Wells Fargo & Company began coverage on CSX in a research note on Friday, June 7th. They issued an equal weight rating and a $35.00 price objective on the stock. UBS Group dropped their price objective on CSX from $46.00 to $44.00 and set a buy rating on the stock in a research note on Thursday, April 18th. Susquehanna dropped their price objective on CSX from $44.00 to $40.00 and set a positive rating on the stock in a research note on Tuesday, June 25th. Finally, Jefferies Financial Group dropped their price objective on CSX from $40.00 to $38.00 and set a hold rating on the stock in a research note on Thursday, April 18th. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $37.39.

CSX Price Performance

Shares of NASDAQ CSX opened at $32.92 on Monday. CSX has a twelve month low of $29.03 and a twelve month high of $40.12. The stock’s 50 day moving average price is $33.37 and its 200-day moving average price is $35.08. The company has a market capitalization of $64.36 billion, a PE ratio of 18.09, a PEG ratio of 1.73 and a beta of 1.20. The company has a quick ratio of 1.00, a current ratio of 1.15 and a debt-to-equity ratio of 1.42.

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

CSX Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were issued a $0.12 dividend. The ex-dividend date was Friday, May 31st. This represents a $0.48 annualized dividend and a dividend yield of 1.46%. CSX’s payout ratio is currently 26.37%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Csenge Advisory Group increased its stake in CSX by 44.8% in the second quarter. Csenge Advisory Group now owns 35,216 shares of the transportation company’s stock valued at $1,178,000 after acquiring an additional 10,896 shares during the last quarter. Compass Financial Group INC SD boosted its position in CSX by 56.0% during the second quarter. Compass Financial Group INC SD now owns 11,930 shares of the transportation company’s stock valued at $399,000 after buying an additional 4,284 shares during the period. Valeo Financial Advisors LLC boosted its position in CSX by 4.7% during the second quarter. Valeo Financial Advisors LLC now owns 47,396 shares of the transportation company’s stock valued at $1,585,000 after buying an additional 2,128 shares during the period. CGN Advisors LLC boosted its position in CSX by 12.5% during the second quarter. CGN Advisors LLC now owns 60,367 shares of the transportation company’s stock valued at $2,019,000 after buying an additional 6,701 shares during the period. Finally, Cullinan Associates Inc. boosted its position in CSX by 133.3% during the second quarter. Cullinan Associates Inc. now owns 21,000 shares of the transportation company’s stock valued at $702,000 after buying an additional 12,000 shares during the period. 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.