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Morgan Stanley Downgrades Rating On CSX Corporation (CSX)

03 October 2017

The stock increased 0.35% or $0.02 on September 29, reaching $5.68. About 112,379 shares traded. PHH Corporation (NYSE:PHH) has risen 6.41% since October 1, 2016 and is uptrending. Csx Corporation (Put) now has $47.99B valuation. With 116,800 avg volume, 2 days are for Xinyuan Real Estate Company Limited (NYSE:XIN)'s short sellers to cover XIN's short positions. The hedge fund run by Ben Gambill held 441,698 shares of the railroads company at the end of 2017Q2, valued at $24.10 million, down from 692,198 at the end of the previous reported quarter. The firm has a market cap of $49.44 billion, a price-to-earnings ratio of 28.313 and a beta of 1.30. This represents a $0.80 annualized dividend and a dividend yield of 1.49%. The stock gained 0.4%, while the industry appreciated 4.3%. CSX Corporation (NYSE:CSX) has risen 97.18% since October 1, 2016 and is uptrending.

Investors sentiment increased to 1.1 in Q2 2017. Its up 0.10, from 0.73 in 2017Q1. It improved, as 24 investors sold PHH shares while 26 reduced holdings. Amer Grp Inc invested 0% in PHH Corporation (NYSE:PHH). City owns 9,933 shares for 0.19% of their portfolio. The Kansas-based Creative Planning has invested 0% in the stock. Valley Advisers Inc reported 0% of its portfolio in PHH Corporation (NYSE:PHH).

A number of large investors have recently bought and sold shares of CSX. Linscomb & Williams Inc accumulated 7,893 shares. Sei Invs Com stated it has 244,715 shares or 0.05% of all its holdings. Jones Fincl Cos Lllp owns 26,383 shares or 0% of their United States portfolio. Lone Pine Ltd Limited Liability Company reported 2.86% stake. Great West Life Assurance Can has 4,602 shares. Daniel Devine holds 6,464 shares.

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. On average, equities analysts forecast that CSX Corporation will post $2.24 earnings per share for the current fiscal year. Vanguard Group Inc. boosted its holdings in CSX Corporation by 0.5% during the 1st quarter. Cadinha & Llc has 10,333 shares for 0.1% of their portfolio. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and eighteen have given a buy rating to the company.

According to Zacks, "Shares of CSX Corporation have underperformed in the last three months". As per Friday, February 12, the company rating was downgraded by Avondale. On Tuesday, October 11 the stock rating was initiated by Wedbush with "Neutral". The firm has "Overweight" rating given on Thursday, August 27 by Piper Jaffray. The firm earned "Outperform" rating on Friday, March 3 by Wedbush. Brean Capital maintained EVINE Live Inc (NASDAQ:EVLV) on Wednesday, September 2 with "Buy" rating. The firm has "Outperform" rating given on Friday, April 21 by Raymond James.

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Since May 10, 2017, it had 0 buys, and 1 sale for $1.42 million activity. Its up 0.10, from 0.73 in 2017Q1. 91 funds opened positions while 238 raised stakes.

CSX Corporation declared that its board has authorized a stock buyback plan on Tuesday, July 18th that authorizes the company to buyback $500.00 million in outstanding shares. Focused Wealth Mgmt invested 0% of its portfolio in CSX Corporation (NASDAQ:CSX). Nelson Roberts Advsr Ltd Com reported 5,795 shares stake. Odey Asset Mngmt Group Limited has invested 0.01% in CSX Corporation (NASDAQ:CSX). Deutsche Bank Ag, a Germany-based fund reported 6,506 shares. Point72 Asset Mngmt Ltd Partnership stated it has 0.1% in CSX Corporation (NASDAQ:CSX).

In other CSX Corporation news, Director Ridge Mantle purchased 1,357,000 stocks of the firm's shares in a trade dated Fri, Jul 21st. the share was bought at a consensus cost of $51.59 for a share, with a total value of $70,007,630.00. after the transaction, the director has an ownership of 106 stocks in the company, assessed at roughly $5,468.54. Voya Invest Management Ltd Liability Corporation accumulated 383,699 shares. Jaffetilchin Investment Partners Llc owns 16,983 shares or 0.03% of their U.S. portfolio. Zacks Investment Research raised CSX Corporation from a "hold" rating to a "buy" rating and set a $61.00 target price on the stock in a research note on Tuesday, July 11th. Therefore 68% are positive. CSX now has an average rating of Buy and a consensus price target of $50.33. The firm earned "Underperform" rating on Thursday, May 19 by CLSA. Stifel Nicolaus downgraded the shares of CSX in report on Friday, July 15 to "Hold" rating. The firm has "Buy" rating given on Tuesday, September 13 by Citigroup. The rating was upgraded by BMO Capital Markets to "Outperform" on Monday, January 23. CSX Corporation had a return on equity of 16.93% and a net margin of 15.46%. As per Thursday, January 14, the company rating was maintained by RBC Capital Markets.

06/06/2017 - CSX Corporation had its "buy" rating reiterated by analysts at Bank of America Merrill Lynch.

CSX Corporation (NASDAQ:CSX) last issued its quarterly earnings data on Tuesday, July 18th. The business had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.85 billion.