Zacks Investment Research downgraded shares of CSX (NASDAQ:CSX) from a hold rating to a sell rating in a research note released on Monday, Zacks.com reports. The brokerage currently has $83.00 price target on the transportation company’s stock.

According to Zacks, “We expect CSX's second-quarter 2019 results, scheduled to be revealed on Jul 16, to be aided by low costs. As in the first quarter, operating ratio (operating expenses as a percentage of revenues) is likely to improve in the second quarter too due to its cost-reduction efforts. We are are also impressed by the company's efforts to reward shareholders through dividends and buybacks. To this end, the company not only announced a 9.1% quarterly dividend hike to 24 cents per share and also approved a new repurchase program earlier this year. However, below-par performance of the company's intermodal unit is worrisome. In fact, the company estimates revenues to rise at a slower rate this year on anticipation of sluggish growth in its intermodal segment. Additionally, the company's high debt levels are concerning.”

CSX has been the subject of a number of other research reports. BMO Capital Markets assumed coverage on shares of Yelp in a research report on Wednesday, April 17th. They issued an outperform rating for the company. UBS Group reiterated a buy rating on shares of Cie Gnrl des Etblsmnts Michelin SCA in a research report on Friday, April 5th. SNS Securities downgraded shares of CSX from a positive rating to a neutral rating in a research report on Wednesday, April 3rd. BidaskClub downgraded shares of Zynerba Pharmaceuticals from a buy rating to a hold rating in a research report on Wednesday, June 26th. Finally, Susquehanna Bancshares restated a neutral rating on shares of CSX in a research report on Wednesday, April 3rd. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $79.18.

NASDAQ:CSX opened at $77.25 on Monday. CSX has a one year low of $58.47 and a one year high of $80.73. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.68 and a current ratio of 1.81. The stock has a market capitalization of $62.51 billion, a price-to-earnings ratio of 20.12, a price-to-earnings-growth ratio of 1.37 and a beta of 1.23. The firm has a fifty day simple moving average of $77.03.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Tuesday, April 16th. The transportation company reported $1.02 EPS for the quarter, beating the consensus estimate of $0.91 by $0.11. CSX had a net margin of 27.84% and a return on equity of 26.13%. The company had revenue of $3.01 billion for the quarter, compared to analyst estimates of $3 billion. During the same period in the prior year, the company earned $0.78 earnings per share. The firm’s revenue was up 4.8% on a year-over-year basis. On average, research analysts predict that CSX will post 4.32 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.24%. CSX’s dividend payout ratio (DPR) is presently 25.00%.

In other CSX news, EVP Nathan D. Goldman sold 7,000 shares of the stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $79.50, for a total value of $556,500.00. Following the completion of the sale, the executive vice president now owns 79,697 shares in the company, valued at approximately $6,335,911.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Angela C. Williams sold 9,560 shares of the stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $79.14, for a total transaction of $756,578.40. Following the completion of the sale, the vice president now owns 14,607 shares of the company’s stock, valued at approximately $1,155,997.98. The disclosure for this sale can be found here. 4.83% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the business. First Command Bank grew its stake in shares of CSX by 38.5% in the 2nd quarter. First Command Bank now owns 2,931 shares of the transportation company’s stock valued at $227,000 after buying an additional 814 shares during the period. Founders Capital Management LLC grew its stake in shares of CSX by 0.6% in the 2nd quarter. Founders Capital Management LLC now owns 167,256 shares of the transportation company’s stock valued at $12,941,000 after buying an additional 959 shares during the period. AMF Pensionsforsakring AB grew its stake in shares of CSX by 4.0% in the 2nd quarter. AMF Pensionsforsakring AB now owns 1,020,630 shares of the transportation company’s stock valued at $78,966,000 after buying an additional 39,197 shares during the period. Valeo Financial Advisors LLC grew its stake in shares of CSX by 2.9% in the 2nd quarter. Valeo Financial Advisors LLC now owns 7,263 shares of the transportation company’s stock valued at $562,000 after buying an additional 203 shares during the period. Finally, Naples Global Advisors LLC grew its stake in shares of CSX by 5.8% in the 2nd quarter. Naples Global Advisors LLC now owns 22,270 shares of the transportation company’s stock valued at $1,723,000 after buying an additional 1,212 shares during the period. Institutional investors own 75.68% of the company’s stock.

About CSX

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services, as well as transports intermodal containers and trailers. It transports chemicals, automotive, agricultural and food products, minerals, fertilizers, forest products, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.

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