CSX Corp. (CSX) Short Interest Up 18.9% in October
CSX Corp. (NASDAQ:CSX) was the recipient of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 17,586,416 shares, a growth of 18.9% from the October 14th total of 14,784,979 shares. Based on an average trading volume of 7,839,405 shares, the days-to-cover ratio is presently 2.2 days. Currently, 1.9% of the company’s stock are sold short.
Shares of CSX Corp. (NASDAQ:CSX) opened at 34.53 on Friday. The stock’s 50 day moving average price is $30.79 and its 200-day moving average price is $28.20. The stock has a market cap of $32.34 billion, a price-to-earnings ratio of 19.22 and a beta of 1.11. CSX Corp. has a 1-year low of $21.33 and a 1-year high of $34.75.
CSX Corp. (NASDAQ:CSX) last issued its earnings results on Wednesday, October 12th. The company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.03. The company had revenue of $2.71 billion for the quarter. CSX Corp. had a return on equity of 14.79% and a net margin of 15.93%. The firm’s revenue for the quarter was down 7.8% compared to the same quarter last year. During the same period last year, the business posted $0.52 EPS. On average, equities research analysts forecast that CSX Corp. will post $1.79 earnings per share for the current 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. This represents a $0.72 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend is Monday, November 28th. CSX Corp.’s dividend payout ratio (DPR) is presently 40.00%.
A number of equities analysts have issued reports on the stock. Vetr downgraded shares of CSX Corp. from a “buy” rating to a “hold” rating and set a $33.60 price objective on the stock. in a report on Wednesday. BMO Capital Markets downgraded shares of CSX Corp. from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from $34.00 to $35.00 in a report on Thursday. They noted that the move was a valuation call. Cowen and Company boosted their price target on shares of CSX Corp. from $30.00 to $33.00 and gave the stock an “outperform” rating in a report on Friday, October 14th. Citigroup Inc. reissued a “buy” rating and issued a $34.00 price target on shares of CSX Corp. in a report on Friday, October 14th. Finally, Barclays PLC reissued an “overweight” rating and issued a $35.00 price target on shares of CSX Corp. in a report on Saturday, October 15th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fifteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $30.43.
In other CSX Corp. news, President Clarence W. Gooden sold 15,625 shares of CSX Corp. stock in a transaction on Monday, November 7th. The shares were sold at an average price of $32.00, for a total transaction of $500,000.00. Following the transaction, the president now directly owns 127,954 shares of the company’s stock, valued at approximately $4,094,528. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Clarence W. Gooden sold 16,129 shares of CSX Corp. stock in a transaction on Thursday, October 6th. The stock was sold at an average price of $31.00, for a total transaction of $499,999.00. Following the transaction, the president now directly owns 127,954 shares in the company, valued at $3,966,574. The disclosure for this sale can be found here. Company insiders own 0.36% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Marco Investment Management LLC increased its stake in CSX Corp. by 0.3% in the second quarter. Marco Investment Management LLC now owns 8,388 shares of the company’s stock worth $219,000 after buying an additional 24 shares during the last quarter. Jackson Grant Investment Advisers Inc. increased its stake in CSX Corp. by 0.4% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 11,280 shares of the company’s stock worth $294,000 after buying an additional 47 shares during the last quarter. IFC Holdings Incorporated FL increased its stake in CSX Corp. by 0.5% in the second quarter. IFC Holdings Incorporated FL now owns 15,320 shares of the company’s stock worth $401,000 after buying an additional 72 shares during the last quarter. Canandaigua National Bank & Trust Co. increased its stake in CSX Corp. by 1.0% in the third quarter. Canandaigua National Bank & Trust Co. now owns 8,380 shares of the company’s stock worth $256,000 after buying an additional 85 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan increased its stake in CSX Corp. by 0.3% in the third quarter. Municipal Employees Retirement System of Michigan now owns 30,270 shares of the company’s stock worth $923,000 after buying an additional 90 shares during the last quarter. 69.42% of the stock is currently owned by institutional investors.
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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