BidaskClub downgraded shares of CSX Corporation (NASDAQ:CSX) from a hold rating to a sell rating in a report released on Thursday morning.

CSX has been the topic of several other research reports. Zacks Investment Research raised shares of CSX Corporation from a hold rating to a buy rating and set a $61.00 price target on the stock in a research report on Tuesday, July 11th. BMO Capital Markets reaffirmed a buy rating on shares of CSX Corporation in a research report on Wednesday, August 30th. Credit Suisse Group dropped their price target on shares of CSX Corporation from $61.00 to $60.00 and set an outperform rating on the stock in a research report on Thursday, September 7th. Royal Bank Of Canada dropped their price target on shares of CSX Corporation from $65.00 to $64.00 and set an outperform rating on the stock in a research report on Thursday, September 7th. Finally, Cowen and Company reaffirmed a hold rating and issued a $54.00 price target on shares of CSX Corporation in a research report on Friday, July 28th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $56.76.

CSX Corporation (NASDAQ CSX) traded down $0.31 during mid-day trading on Thursday, hitting $51.31. 4,000,000 shares of the stock were exchanged, compared to its average volume of 6,054,509. The company has a market cap of $45,856.93, a PE ratio of 23.87, a PEG ratio of 1.58 and a beta of 1.33. The company has a quick ratio of 0.86, a current ratio of 1.05 and a debt-to-equity ratio of 1.08. CSX Corporation has a one year low of $30.92 and a one year high of $55.48.

CSX Corporation (NASDAQ:CSX) last released its quarterly earnings data on Tuesday, October 17th. The transportation company reported $0.51 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.51. CSX Corporation had a net margin of 15.45% and a return on equity of 17.28%. The company had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.77 billion. During the same quarter in the prior year, the firm earned $0.48 EPS. The business’s revenue was up 1.2% on a year-over-year basis. research analysts forecast that CSX Corporation will post 2.21 EPS for the current year.

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CSX Corporation declared that its board has authorized a share repurchase plan on Tuesday, July 18th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the transportation company to purchase up to 1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.56%. CSX Corporation’s payout ratio is currently 41.24%.

A number of institutional investors have recently added to or reduced their stakes in CSX. Gradient Investments LLC grew its stake in CSX Corporation by 38.1% in the 2nd quarter. Gradient Investments LLC now owns 1,954 shares of the transportation company’s stock valued at $107,000 after buying an additional 539 shares in the last quarter. Parallel Advisors LLC boosted its holdings in CSX Corporation by 14.9% in the 2nd quarter. Parallel Advisors LLC now owns 2,194 shares of the transportation company’s stock valued at $108,000 after purchasing an additional 285 shares during the period. Reilly Financial Advisors LLC boosted its holdings in CSX Corporation by 33.1% in the 2nd quarter. Reilly Financial Advisors LLC now owns 2,012 shares of the transportation company’s stock valued at $110,000 after purchasing an additional 500 shares during the period. Madden Advisory Services Inc. bought a new position in CSX Corporation in the 1st quarter valued at $155,000. Finally, Keel Point LLC bought a new position in CSX Corporation in the 1st quarter valued at $207,000. Institutional investors and hedge funds own 71.17% of the company’s stock.

CSX Corporation Company Profile

CSX Corporation is a transportation company. The Company provides rail-based freight transportation services, including traditional rail service and transport of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations.

Analyst Recommendations for CSX Corporation (NASDAQ:CSX)

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