CSX Corp. (CSX) Sees Significant Growth in Short Interest
CSX Corp. (NASDAQ:CSX) was the target of a large increase in short interest in September. As of September 15th, there was short interest totalling 11,155,529 shares, an increase of 23.3% from the August 31st total of 9,045,812 shares. Currently, 1.2% of the company’s stock are short sold. Based on an average trading volume of 7,549,090 shares, the days-to-cover ratio is presently 1.5 days.
In related news, President Clarence W. Gooden sold 17,332 shares of the firm’s 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 transaction, the president now owns 127,954 shares of the company’s stock, valued at approximately $3,766,965.76. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.36% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in CSX. Brick & Kyle Associates increased its stake in shares of CSX Corp. by 8.1% in the second quarter. Brick & Kyle Associates now owns 4,000 shares of the company’s stock valued at $104,000 after buying an additional 300 shares during the last quarter. Advisors Asset Management Inc. purchased a new stake in shares of CSX Corp. during the second quarter valued at approximately $117,000. WFG Advisors LP increased its stake in shares of CSX Corp. by 17.1% in the second quarter. WFG Advisors LP now owns 6,537 shares of the company’s stock valued at $170,000 after buying an additional 956 shares during the last quarter. Capital Analysts LLC increased its stake in shares of CSX Corp. by 241.5% in the second quarter. Capital Analysts LLC now owns 7,567 shares of the company’s stock valued at $711,000 after buying an additional 5,351 shares during the last quarter. Finally, Southeast Asset Advisors Inc. purchased a new stake in shares of CSX Corp. during the second quarter valued at approximately $200,000. Hedge funds and other institutional investors own 68.55% of the company’s stock.
CSX has been the topic of several recent research reports. Barclays PLC raised shares of CSX Corp. from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $30.00 to $35.00 in a research report on Monday, September 12th. BMO Capital Markets reissued an “outperform” rating and set a $29.00 target price on shares of CSX Corp. in a research report on Thursday, July 7th. Wolfe Research raised shares of CSX Corp. from a “market perform” rating to an “outperform” rating and set a $35.00 target price on the stock in a research report on Tuesday, September 13th. Citigroup Inc. reissued a “buy” rating and set a $29.00 target price on shares of CSX Corp. in a research report on Thursday, July 14th. Finally, Bank of America Corp. reissued a “buy” rating and set a $32.00 target price on shares of CSX Corp. in a research report on Monday, September 12th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have assigned a buy rating to the stock. CSX Corp. currently has an average rating of “Hold” and a consensus target price of $29.54.
Shares of CSX Corp. (NASDAQ:CSX) opened at 30.01 on Thursday. The firm has a 50-day moving average of $28.69 and a 200 day moving average of $27.11. The company has a market capitalization of $28.39 billion, a P/E ratio of 16.38 and a beta of 1.32. CSX Corp. has a 1-year low of $21.33 and a 1-year high of $30.53.
CSX Corp. (NASDAQ:CSX) last released its quarterly 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. CSX Corp. had a net margin of 16.07% and a return on equity of 15.24%. The business had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.69 billion. During the same period last year, the firm earned $0.56 earnings per share. The company’s quarterly revenue was down 11.7% on a year-over-year basis. On average, analysts anticipate that CSX Corp. will post $1.75 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were given a $0.18 dividend. The ex-dividend date of this dividend was Monday, August 29th. This represents a $0.72 annualized dividend and a yield of 2.40%. CSX Corp.’s payout ratio is presently 39.13%.
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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