CSX Corp. Plans Quarterly Dividend of $0.18 (CSX)
CSX Corp. (NASDAQ:CSX) declared a quarterly dividend on Wednesday, October 5th. Shareholders of record on Wednesday, November 30th will be given a dividend of 0.18 per share on Thursday, December 15th. This represents a $0.72 dividend on an annualized basis and a yield of 2.39%.
CSX Corp. (NASDAQ:CSX) traded up 1.69% during trading on Wednesday, reaching $30.68. 3,912,288 shares of the company’s stock were exchanged. CSX Corp. has a 52 week low of $21.33 and a 52 week high of $30.77. The company’s 50 day moving average price is $28.94 and its 200-day moving average price is $27.22. The stock has a market capitalization of $29.02 billion, a price-to-earnings ratio of 16.75 and a beta of 1.23.
CSX Corp. (NASDAQ:CSX) last released its earnings results on Wednesday, July 13th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.03. The business had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.69 billion. CSX Corp. had a net margin of 16.07% and a return on equity of 15.24%. The firm’s quarterly revenue was down 11.7% compared to the same quarter last year. During the same period last year, the firm posted $0.56 earnings per share. On average, equities analysts expect that CSX Corp. will post $1.75 EPS for the current year.
CSX has been the topic of a number of research analyst reports. BMO Capital Markets reaffirmed a “buy” rating on shares of CSX Corp. in a research report on Friday, June 10th. Oppenheimer Holdings Inc. initiated coverage on shares of CSX Corp. in a research report on Wednesday, June 15th. They set a “market perform” rating on the stock. Citigroup Inc. reaffirmed a “buy” rating and set a $29.00 price objective on shares of CSX Corp. in a research report on Saturday, June 18th. Stifel Nicolaus downgraded shares of CSX Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, July 14th. They noted that the move was a valuation call. Finally, Cowen and Company boosted their target price on shares of CSX Corp. from $27.00 to $30.00 and gave the stock a “market perform” rating in a research report on Friday, July 15th. Three 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. The company has an average rating of “Hold” and an average target price of $29.54.
In other CSX Corp. news, President Clarence W. Gooden sold 17,332 shares of the company’s stock in a transaction dated Monday, September 26th. The shares were sold at an average price of $29.44, for a total transaction of $510,254.08. Following the transaction, the president now directly owns 127,954 shares in the company, valued at approximately $3,766,965.76. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.36% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the stock. Janus Capital Management LLC boosted its position in shares of CSX Corp. by 2,956.3% in the second quarter. Janus Capital Management LLC now owns 8,445,436 shares of the company’s stock valued at $220,257,000 after buying an additional 8,169,105 shares in the last quarter. OMERS ADMINISTRATION Corp acquired a new position in shares of CSX Corp. during the second quarter valued at $132,518,000. American Century Companies Inc. boosted its position in shares of CSX Corp. by 20.9% in the second quarter. American Century Companies Inc. now owns 6,305,930 shares of the company’s stock valued at $164,459,000 after buying an additional 1,091,854 shares in the last quarter. UBS Oconnor LLC boosted its position in shares of CSX Corp. by 742.9% in the second quarter. UBS Oconnor LLC now owns 806,795 shares of the company’s stock valued at $21,041,000 after buying an additional 932,293 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its position in shares of CSX Corp. by 1,130.9% in the second quarter. Nuveen Asset Management LLC now owns 804,684 shares of the company’s stock valued at $20,986,000 after buying an additional 739,312 shares in the last quarter. Institutional investors and hedge funds own 68.55% of the company’s stock.
About CSX Corp.
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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