CSX Corp. (NASDAQ:CSX) declared a quarterly dividend on Wednesday, October 5th. Investors of record on Wednesday, November 30th will be paid a dividend of 0.18 per share on Thursday, December 15th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.34%.
CSX Corp. (NASDAQ:CSX) opened at 30.71 on Thursday. The firm has a market cap of $29.05 billion, a P/E ratio of 16.76 and a beta of 1.23. The company’s 50 day moving average is $29.02 and its 200-day moving average is $27.25. CSX Corp. has a 52 week low of $21.33 and a 52 week high of $30.77.
CSX Corp. (NASDAQ:CSX) last announced its earnings results on Wednesday, July 13th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.03. CSX Corp. had a net margin of 16.07% and a return on equity of 15.24%. The firm had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.69 billion. During the same quarter last year, the business earned $0.56 earnings per share. CSX Corp.’s revenue was down 11.7% compared to the same quarter last year. Equities analysts expect that CSX Corp. will post $1.75 earnings per share for the current year.
In related news, President Clarence W. Gooden sold 17,332 shares of CSX Corp. stock in a transaction dated Monday, September 26th. The shares were sold at an average price of $29.44, for a total value of $510,254.08. Following the sale, the president now directly owns 127,954 shares in the company, valued at approximately $3,766,965.76. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.36% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the company. WFG Advisors LP increased its stake in CSX Corp. by 17.1% in the second quarter. WFG Advisors LP now owns 6,537 shares of the company’s stock worth $170,000 after buying an additional 956 shares during the period. Southeast Asset Advisors Inc. bought a new stake in CSX Corp. during the second quarter worth approximately $200,000. Westwood Holdings Group Inc. bought a new stake in CSX Corp. during the second quarter worth approximately $216,000. Highbridge Capital Management LLC bought a new stake in CSX Corp. during the second quarter worth approximately $256,000. Finally, Martingale Asset Management L P increased its stake in CSX Corp. by 15.9% in the second quarter. Martingale Asset Management L P now owns 12,449 shares of the company’s stock worth $325,000 after buying an additional 1,712 shares during the period. Institutional investors own 68.55% of the company’s stock.
A number of analysts recently issued reports on the stock. Argus restated a “buy” rating and set a $35.00 target price on shares of CSX Corp. in a research report on Friday, July 15th. Deutsche Bank AG reaffirmed a “hold” rating and set a $29.00 price target (up previously from $27.00) on shares of CSX Corp. in a research note on Friday, July 15th. Royal Bank Of Canada increased their price target on shares of CSX Corp. from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Friday, July 15th. BB&T Corp. downgraded shares of CSX Corp. from a “buy” rating to a “hold” rating in a research note on Friday, July 15th. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of CSX Corp. in a research note on Friday, July 15th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $29.54.
CSX Corp. Company Profile
CSX Corporation, together with its subsidiaries, is a transportation company. The Company provides rail-based transportation services, including rail service and the transport of intermodal containers and trailers. The Company serves three lines of business, such as merchandise business, coal business and intermodal business.
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