CSX Co. to Issue Quarterly Dividend of $0.12 (NASDAQ:CSX)

CSX Co. (NASDAQ:CSX) declared a quarterly dividend on Wednesday, May 8th, RTT News reports. Stockholders of record on Friday, May 31st will be paid a dividend of 0.12 per share by the transportation company on Friday, June 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.40%.

CSX has raised its dividend by an average of 8.3% per year over the last three years and has raised its dividend annually for the last 20 consecutive years. CSX has a payout ratio of 22.0% meaning its dividend is sufficiently covered by earnings. Analysts expect CSX to earn $2.17 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 22.1%.

CSX Stock Up 0.8 %

Shares of NASDAQ:CSX opened at $34.22 on Thursday. CSX has a 1 year low of $29.03 and a 1 year high of $40.12. The company has a market capitalization of $66.90 billion, a price-to-earnings ratio of 18.80, a P/E/G ratio of 2.03 and a beta of 1.19. The business’s 50-day moving average is $36.06 and its 200-day moving average is $34.64. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.15 and a quick ratio of 1.00.

CSX (NASDAQ:CSX) last issued its earnings results on Wednesday, April 17th. The transportation company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. CSX had a return on equity of 29.58% and a net margin of 24.75%. The business had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.66 billion. During the same period in the previous year, the company posted $0.48 EPS. The firm’s revenue was down .8% compared to the same quarter last year. Equities research analysts predict that CSX will post 1.95 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on CSX shares. StockNews.com lowered CSX from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. BMO Capital Markets boosted their target price on CSX from $37.00 to $38.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Benchmark reissued a “buy” rating and set a $40.00 price objective on shares of CSX in a report on Thursday, April 18th. Royal Bank of Canada decreased their price objective on CSX from $37.00 to $36.00 and set a “sector perform” rating for the company in a report on Thursday, April 18th. Finally, Raymond James boosted their price objective on CSX from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Tuesday, January 16th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $38.00.

CSX Company Profile

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It also transports chemicals, agricultural and food products, minerals, automotive, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities.