CSX (NASDAQ:CSX) Cut to “Hold” at StockNews.com

Posted by on May 26th, 2022

CSX (NASDAQ:CSX – Get Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report released on Thursday.

CSX has been the topic of a number of other research reports. Citigroup downgraded CSX from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $45.00 to $35.00 in a report on Thursday, May 19th. Susquehanna raised their price objective on shares of CSX from $44.00 to $45.00 and gave the stock a “positive” rating in a research note on Thursday, April 21st. Royal Bank of Canada raised shares of CSX from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $37.00 to $39.00 in a report on Thursday, March 17th. Argus lifted their price objective on shares of CSX from $39.00 to $41.00 in a research note on Friday, April 22nd. Finally, Susquehanna Bancshares upped their price objective on shares of CSX from $44.00 to $45.00 and gave the stock a “positive” rating in a research report on Thursday, April 21st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $38.45.

Shares of CSX stock opened at $31.15 on Thursday. CSX has a twelve month low of $29.49 and a twelve month high of $38.63. The business has a fifty day simple moving average of $34.67 and a 200 day simple moving average of $35.22. The company has a quick ratio of 1.32, a current ratio of 1.46 and a debt-to-equity ratio of 1.21. The company has a market cap of $67.73 billion, a P/E ratio of 17.70, a P/E/G ratio of 1.67 and a beta of 1.21.

CSX (NASDAQ:CSX – Get Rating) last posted its earnings results on Wednesday, April 20th. The transportation company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. CSX had a return on equity of 27.47% and a net margin of 29.98%. The company had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.31 billion. During the same quarter last year, the company earned $0.31 earnings per share. The company’s revenue for the quarter was up 21.3% on a year-over-year basis. As a group, equities research analysts anticipate that CSX will post 1.82 earnings per share for the current fiscal year.

Large investors have recently added to or reduced their stakes in the stock. Life Planning Partners Inc bought a new stake in shares of CSX in the fourth quarter valued at approximately $29,000. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of CSX by 80.2% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 811 shares of the transportation company’s stock valued at $30,000 after acquiring an additional 361 shares during the period. Core Alternative Capital lifted its holdings in shares of CSX by 663.9% during the first quarter. Core Alternative Capital now owns 825 shares of the transportation company’s stock valued at $31,000 after acquiring an additional 717 shares during the period. Capital Advisors Ltd. LLC bought a new position in shares of CSX during the fourth quarter valued at $34,000. Finally, Bank of New Hampshire bought a new position in shares of CSX during the first quarter valued at $34,000. Hedge funds and other institutional investors own 74.81% of the company’s stock.

About CSX (Get Rating)

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

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