CSX Corp. (NASDAQ:CSX) was the recipient of a large growth in short interest in the month of September. As of September 15th, there was short interest totalling 11,155,529 shares, a growth of 23.3% from the August 31st total of 9,045,812 shares. Based on an average daily volume of 7,549,090 shares, the short-interest ratio is currently 1.5 days. Approximately 1.2% of the shares of the stock are sold short.
CSX Corp. (NASDAQ:CSX) opened at 30.01 on Thursday. The stock has a market cap of $28.39 billion, a P/E ratio of 16.38 and a beta of 1.32. The stock has a 50 day moving average of $28.69 and a 200-day moving average of $27.11. CSX Corp. has a 12 month low of $21.33 and a 12 month high of $30.53.
CSX Corp. (NASDAQ:CSX) last announced its earnings results on Wednesday, July 13th. The company reported $0.47 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.03. The company earned $2.70 billion during the quarter, compared to analyst estimates of $2.69 billion. CSX Corp. had a net margin of 16.07% and a return on equity of 15.24%. CSX Corp.’s revenue was down 11.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.56 earnings per share. On average, equities analysts forecast that CSX Corp. will post $1.75 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend was Monday, August 29th. CSX Corp.’s dividend payout ratio (DPR) is presently 39.13%.
In other news, President Clarence W. Gooden sold 17,332 shares of the firm’s stock in a transaction on Monday, September 26th. The shares were sold at an average price of $29.44, for a total transaction 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 Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.36% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Marco Investment Management LLC raised its position in shares of CSX Corp. by 0.3% in the second quarter. Marco Investment Management LLC now owns 8,388 shares of the company’s stock valued at $219,000 after buying an additional 24 shares during the period. Smith Moore & CO. raised its position in shares of CSX Corp. by 0.3% in the first quarter. Smith Moore & CO. now owns 12,897 shares of the company’s stock valued at $332,000 after buying an additional 41 shares during the period. Jackson Grant Investment Advisers Inc. raised its position in shares of CSX Corp. by 0.4% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 11,280 shares of the company’s stock valued at $294,000 after buying an additional 47 shares during the period. IFC Holdings Incorporated FL raised its position in shares of CSX Corp. by 0.5% in the second quarter. IFC Holdings Incorporated FL now owns 15,320 shares of the company’s stock valued at $401,000 after buying an additional 72 shares during the period. Finally, Simmons Bank raised its position in shares of CSX Corp. by 0.8% in the second quarter. Simmons Bank now owns 12,860 shares of the company’s stock valued at $335,000 after buying an additional 100 shares during the period. 68.55% of the stock is owned by institutional investors.
Several equities analysts recently weighed in on CSX shares. Citigroup Inc. raised their target price on shares of CSX Corp. from $29.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, September 13th. BMO Capital Markets reaffirmed an “outperform” rating and set a $29.00 target price on shares of CSX Corp. in a research note on Thursday, July 7th. Bank of America Corp. reaffirmed a “buy” rating and set a $32.00 target price on shares of CSX Corp. in a research note on Monday, September 12th. Wolfe Research raised shares of CSX Corp. from a “market perform” rating to an “outperform” rating and set a $35.00 target price for the company in a research note on Tuesday, September 13th. Finally, Loop Capital reaffirmed a “hold” rating and set a $31.00 target price on shares of CSX Corp. in a research note on Thursday, September 1st. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus 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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