CSX Corp. (CSX) Sees Large Growth in Short Interest
CSX Corp. (NASDAQ:CSX) saw a large growth in short interest in the month of September. As of September 30th, there was short interest totalling 15,762,438 shares, a growth of 41.3% from the September 15th total of 11,155,529 shares. Based on an average daily trading volume, of 6,322,155 shares, the days-to-cover ratio is presently 2.5 days. Approximately 1.7% of the company’s shares are short sold.
Shares of CSX Corp. (NASDAQ:CSX) opened at 31.025 on Friday. The company has a market cap of $29.35 billion, a PE ratio of 16.935 and a beta of 1.23. CSX Corp. has a 1-year low of $21.33 and a 1-year high of $31.73. The company has a 50-day moving average price of $29.50 and a 200-day moving average price of $27.47.
CSX Corp. (NASDAQ:CSX) last released its earnings results on Wednesday, October 12th. The company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.45 by $0.03. CSX Corp. had a return on equity of 14.79% and a net margin of 15.93%. The business earned $2.71 billion during the quarter. During the same period in the prior year, the business earned $0.52 EPS. The company’s revenue for the quarter was down 7.8% on a year-over-year basis. Equities research analysts expect that CSX Corp. will post $1.75 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Wednesday, November 30th will be paid a dividend of $0.18 per share. The ex-dividend date is Monday, November 28th. This represents a $0.72 annualized dividend and a yield of 2.32%. CSX Corp.’s dividend payout ratio is currently 40.00%.
Several research firms have recently issued reports on CSX. Stifel Nicolaus lowered 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. Citigroup Inc. reiterated a “buy” rating and issued a $29.00 price objective on shares of CSX Corp. in a research report on Saturday, June 18th. Argus reiterated a “buy” rating and issued a $35.00 price objective on shares of CSX Corp. in a research report on Friday, July 15th. Loop Capital reiterated a “hold” rating on shares of CSX Corp. in a research report on Friday, September 9th. Finally, Cowen and Company boosted their price objective on CSX Corp. from $30.00 to $33.00 and gave the company an “outperform” rating in a research report on Friday. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have issued a buy rating to the stock. CSX Corp. presently has a consensus rating of “Hold” and an average target price of $29.75.
In other news, President Clarence W. Gooden sold 17,332 shares of the business’s stock in a transaction dated Monday, September 26th. The stock was sold at an average price of $29.44, for a total transaction of $510,254.08. Following the completion of 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 Securities & Exchange Commission, which is available through this link. Also, President Clarence W. Gooden sold 16,129 shares of the business’s stock in a transaction dated Thursday, October 6th. The stock was sold at an average price of $31.00, for a total value of $499,999.00. Following the transaction, the president now owns 127,954 shares of the company’s stock, valued at $3,966,574. The disclosure for this sale can be found here. Insiders own 0.36% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in CSX. Community Bank of Raymore boosted its stake in CSX Corp. by 2.5% in the second quarter. Community Bank of Raymore now owns 741,373 shares of the company’s stock valued at $19,328,000 after buying an additional 18,400 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of CSX Corp. by 1.6% in the first quarter. Legal & General Group Plc now owns 4,290,750 shares of the company’s stock worth $110,488,000 after buying an additional 66,790 shares during the period. Meeder Asset Management Inc. purchased a new stake in shares of CSX Corp. during the first quarter worth approximately $454,000. Capital Analysts LLC boosted 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 worth $711,000 after buying an additional 5,351 shares during the period. Finally, Simmons Bank purchased a new stake in shares of CSX Corp. during the first quarter worth approximately $329,000. 68.55% of the stock is owned by institutional investors and hedge funds.
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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