CSX Sees Unusually Large Options Volume (NASDAQ:CSX)

CSX Corporation (NASDAQ:CSX) was the recipient of unusually large options trading activity on Wednesday. Stock traders bought 81,533 call options on the stock. This is an increase of 647% compared to the typical volume of 10,919 call options.

CSX Trading Down 1.0%

CSX stock traded down $0.48 during midday trading on Wednesday, reaching $46.80. 3,756,756 shares of the company’s stock traded hands, compared to its average volume of 13,267,808. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.97 and a quick ratio of 0.83. CSX has a fifty-two week low of $31.80 and a fifty-two week high of $47.55. The business has a 50-day moving average price of $44.43 and a two-hundred day moving average price of $40.33. The company has a market capitalization of $86.96 billion, a P/E ratio of 28.71, a PEG ratio of 2.45 and a beta of 1.22.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Wednesday, April 22nd. The transportation company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.04. CSX had a net margin of 21.55% and a return on equity of 24.47%. The company had revenue of $3.48 billion during the quarter, compared to analyst estimates of $3.50 billion. During the same quarter in the prior year, the business earned $0.34 earnings per share. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. Equities research analysts forecast that CSX will post 1.9 EPS for the current fiscal year.

CSX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, May 29th. CSX’s dividend payout ratio is currently 34.36%.

Analyst Upgrades and Downgrades

CSX has been the topic of several recent analyst reports. New Street Research set a $49.00 price objective on shares of CSX in a report on Thursday, April 23rd. Wolfe Research reaffirmed an “outperform” rating and set a $50.00 price target on shares of CSX in a research report on Thursday, April 23rd. TD Cowen increased their price target on shares of CSX from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Barclays reissued an “overweight” rating and set a $47.00 price objective (up from $40.00) on shares of CSX in a research note on Thursday, April 23rd. Finally, Raymond James Financial upped their price objective on CSX from $45.00 to $49.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Sixteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.42.

Insider Buying and Selling at CSX

In other CSX news, Director John J. Zillmer sold 10,000 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $46.45, for a total transaction of $464,500.00. Following the transaction, the director owned 353,714 shares of the company’s stock, valued at $16,430,015.30. This represents a 2.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Kevin S. Boone sold 136,708 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $46.70, for a total value of $6,384,263.60. Following the sale, the chief financial officer owned 208,622 shares in the company, valued at $9,742,647.40. This trade represents a 39.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On CSX

Several institutional investors and hedge funds have recently modified their holdings of CSX. FNY Investment Advisers LLC grew its stake in shares of CSX by 437.3% in the third quarter. FNY Investment Advisers LLC now owns 720 shares of the transportation company’s stock valued at $25,000 after buying an additional 586 shares in the last quarter. WFA of San Diego LLC acquired a new position in CSX during the 2nd quarter worth approximately $28,000. Wilkerson Advisory Group LLC lifted its position in CSX by 97.4% during the 1st quarter. Wilkerson Advisory Group LLC now owns 829 shares of the transportation company’s stock worth $34,000 after acquiring an additional 409 shares in the last quarter. CrossGen Wealth LLC purchased a new position in CSX in the 4th quarter worth approximately $54,000. Finally, Aventura Private Wealth LLC acquired a new stake in CSX in the fourth quarter valued at approximately $63,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Company Profile

CSX Corporation is a leading North American transportation company that provides rail-based freight services and supply-chain solutions. Its operating subsidiary, CSX Transportation, moves a wide range of goods for customers across multiple industries, using a combination of long-haul rail service, intermodal operations and terminal and yard services. The company focuses on delivering efficient, reliable freight transportation between major production centers, consumption markets and port gateways.

CSX’s freight portfolio includes intermodal containers and trailers, bulk commodities, industrial products and specialized unit trains.