CSX (NASDAQ:CSX) Sets New 52-Week Low on Analyst Downgrade

CSX Co. (NASDAQ:CSX) reached a new 52-week low on Thursday after UBS Group lowered their price target on the stock from $39.00 to $36.00. UBS Group currently has a buy rating on the stock. CSX traded as low as $28.28 and last traded at $28.49, with a volume of 3047316 shares traded. The stock had previously closed at $29.74.

CSX has been the topic of a number of other reports. Royal Bank of Canada decreased their price objective on CSX from $34.00 to $33.00 and set a “sector perform” rating on the stock in a report on Friday, January 24th. Citigroup decreased their price objective on shares of CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a report on Friday, January 24th. BMO Capital Markets decreased their target price on CSX from $40.00 to $38.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Deutsche Bank Aktiengesellschaft began coverage on shares of CSX in a research note on Friday, March 7th. They issued a “hold” rating and a $34.00 price objective for the company. Finally, Loop Capital lowered shares of CSX from a “buy” rating to a “hold” rating and reduced their target price for the stock from $40.00 to $34.00 in a report on Monday, February 3rd. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $36.20.

Hedge Funds Weigh In On CSX

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Jacobs & Co. CA grew its stake in CSX by 1.4% in the 1st quarter. Jacobs & Co. CA now owns 408,275 shares of the transportation company’s stock valued at $12,015,000 after acquiring an additional 5,520 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of CSX by 14.7% during the fourth quarter. Wellington Management Group LLP now owns 117,579 shares of the transportation company’s stock valued at $3,794,000 after buying an additional 15,029 shares during the period. Mascagni Wealth Management Inc. acquired a new stake in CSX during the fourth quarter worth approximately $308,000. 111 Capital acquired a new position in CSX in the fourth quarter valued at $630,000. Finally, Wealth Enhancement Advisory Services LLC increased its stake in shares of CSX by 9.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 945,319 shares of the transportation company’s stock valued at $30,505,000 after acquiring an additional 78,282 shares during the last quarter. 73.57% of the stock is owned by institutional investors and hedge funds.

CSX Stock Performance

The stock’s 50 day simple moving average is $31.54 and its two-hundred day simple moving average is $33.12. The company has a market cap of $53.65 billion, a PE ratio of 15.90, a P/E/G ratio of 1.92 and a beta of 1.22. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a net margin of 23.95% and a return on equity of 28.15%. As a group, research analysts anticipate that CSX Co. will post 1.83 earnings per share for the current year.

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, February 28th. This is an increase from CSX’s previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a dividend yield of 1.83%. CSX’s dividend payout ratio (DPR) is currently 29.05%.

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.