CSX (NASDAQ:CSX) Upgraded to Hold at Wall Street Zen

Key Points

• CSX was upgraded from a "sell" rating to a "hold" rating by Wall Street Zen, signaling a shift in sentiment towards the stock.
• Several analysts, including BMO Capital Markets and Deutsche Bank, have also raised their price targets for CSX, indicating a generally positive outlook for the company.
• The company's recent quarterly earnings exceeded expectations, reporting $0.44 EPS against a consensus estimate of $0.42, though revenue decreased by 3.5% compared to the previous year.

Wall Street Zen upgraded shares of CSX (NASDAQ:CSX - Free Report) from a sell rating to a hold rating in a report published on Saturday.

Other equities analysts have also issued reports about the company. JPMorgan Chase & Co. increased their price target on CSX from $34.00 to $41.00 and gave the company an "overweight" rating in a research note on Thursday. Jefferies Financial Group decreased their price target on shares of CSX from $37.00 to $33.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Barclays raised their price target on shares of CSX from $36.00 to $38.00 and gave the stock an "overweight" rating in a research note on Thursday. Robert W. Baird boosted their price objective on shares of CSX from $38.00 to $44.00 and gave the stock an "outperform" rating in a research report on Friday. Finally, TD Cowen raised shares of CSX from a "hold" rating to a "buy" rating and lifted their target price for the stock from $32.00 to $45.00 in a report on Monday, July 21st. Seven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $37.00.

CSX Stock Up 2.2%

Shares of CSX traded up $0.76 during midday trading on Friday, reaching $35.76. 31,706,226 shares of the company were exchanged, compared to its average volume of 16,334,290. The stock has a 50-day moving average price of $32.69 and a 200-day moving average price of $31.26. The company has a market cap of $66.67 billion, a price-to-earnings ratio of 22.07, a P/E/G ratio of 3.13 and a beta of 1.23. CSX has a 1-year low of $26.22 and a 1-year high of $37.10. The company has a current ratio of 0.77, a quick ratio of 0.75 and a debt-to-equity ratio of 1.50.

CSX (NASDAQ:CSX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.02. CSX had a return on equity of 25.48% and a net margin of 21.92%. The firm had revenue of $3.57 billion for the quarter, compared to analysts' expectations of $3.57 billion. During the same quarter in the prior year, the firm posted $0.49 earnings per share. CSX's revenue for the quarter was down 3.5% compared to the same quarter last year. Research analysts expect that CSX will post 1.83 earnings per share for the current year.

CSX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be given a dividend of $0.13 per share. The ex-dividend date is Friday, August 29th. This represents a $0.52 annualized dividend and a dividend yield of 1.45%. CSX's dividend payout ratio is 32.10%.

Hedge Funds Weigh In On CSX

Large investors have recently modified their holdings of the business. Brighton Jones LLC grew its holdings in CSX by 5.5% in the fourth quarter. Brighton Jones LLC now owns 16,254 shares of the transportation company's stock worth $525,000 after purchasing an additional 849 shares during the period. Loomis Sayles & Co. L P purchased a new position in CSX in the fourth quarter valued at about $70,000. Pictet Asset Management Holding SA boosted its stake in CSX by 7.8% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,129,708 shares of the transportation company's stock valued at $36,456,000 after acquiring an additional 81,429 shares during the last quarter. Orion Portfolio Solutions LLC raised its position in shares of CSX by 13.7% in the fourth quarter. Orion Portfolio Solutions LLC now owns 229,524 shares of the transportation company's stock valued at $7,407,000 after purchasing an additional 27,698 shares during the period. Finally, denkapparat Operations GmbH bought a new stake in shares of CSX in the fourth quarter valued at approximately $207,000. 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.