CSX Co. (CSX) to Issue Quarterly Dividend of $0.13 on June 13th

CSX Co. (NASDAQ:CSX) announced a quarterly dividend on Wednesday, May 7th, RTT News reports. Shareholders of record on Friday, May 30th will be given a dividend of 0.13 per share by the transportation company on Friday, June 13th. This represents a $0.52 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date is Friday, May 30th.

CSX has raised its dividend payment by an average of 8.7% per year over the last three years and has raised its dividend annually for the last 21 consecutive years. CSX has a payout ratio of 27.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect CSX to earn $2.09 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 24.9%.

CSX Trading Up 2.0%

Shares of CSX stock opened at $31.43 on Wednesday. The business has a 50-day moving average price of $28.95 and a two-hundred day moving average price of $31.58. CSX has a 12-month low of $26.22 and a 12-month high of $37.10. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. The firm has a market cap of $59.04 billion, a P/E ratio of 17.56, a price-to-earnings-growth ratio of 1.92 and a beta of 1.22.

CSX (NASDAQ:CSX) last released its earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.05). The firm had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.53 billion. CSX had a return on equity of 28.15% and a net margin of 23.95%. Equities analysts anticipate that CSX will post 1.83 EPS for the current fiscal year.

Institutional Investors Weigh In On CSX

An institutional investor recently raised its position in CSX stock. Brighton Jones LLC raised its position in shares of CSX Co. (NASDAQ:CSX) by 5.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,254 shares of the transportation company’s stock after acquiring an additional 849 shares during the quarter. Brighton Jones LLC’s holdings in CSX were worth $525,000 at the end of the most recent quarter. 73.57% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CSX. Raymond James restated an “outperform” rating and issued a $33.00 price objective (down from $34.00) on shares of CSX in a report on Thursday, April 17th. Susquehanna lowered their price target on shares of CSX from $37.00 to $35.00 and set a “positive” rating for the company in a research note on Thursday, April 17th. Evercore ISI reduced their price objective on CSX from $35.00 to $33.00 and set an “outperform” rating on the stock in a research note on Thursday, April 17th. BMO Capital Markets decreased their price objective on CSX from $36.00 to $35.00 and set an “outperform” rating on the stock in a report on Thursday, April 17th. Finally, Wells Fargo & Company dropped their target price on CSX from $31.00 to $28.00 and set an “equal weight” rating for the company in a report on Thursday, April 17th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, CSX has an average rating of “Moderate Buy” and an average price target of $33.90.

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.