CSX Corporation (NASDAQ:CSX) Declares $0.14 Quarterly Dividend

CSX Corporation (NASDAQ:CSX) declared a quarterly dividend on Tuesday, May 12th. Stockholders of record on Friday, May 29th will be given a dividend of 0.14 per share by the transportation company on Monday, June 15th. This represents a c) annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, May 29th.

CSX has raised its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 21 years. CSX has a payout ratio of 29.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect CSX to earn $2.13 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 26.3%.

CSX Stock Down 0.3%

Shares of NASDAQ:CSX traded down $0.14 on Wednesday, hitting $44.39. 4,279,596 shares of the company’s stock were exchanged, compared to its average volume of 13,384,955. The firm’s 50-day moving average is $42.05 and its 200 day moving average is $38.80. The company has a market capitalization of $82.48 billion, a PE ratio of 27.23, a P/E/G ratio of 2.33 and a beta of 1.24. CSX has a 1-year low of $30.17 and a 1-year high of $46.55. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.83 and a current ratio of 0.97.

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. The business had revenue of $3.48 billion during the quarter, compared to analysts’ expectations of $3.50 billion. CSX had a return on equity of 24.47% and a net margin of 21.55%.The business’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.34 EPS. Sell-side analysts predict that CSX will post 1.89 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CSX. Argus upped their price objective on CSX from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Tuesday, January 27th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $41.00 price objective (up from $37.00) on shares of CSX in a research report on Thursday, April 23rd. Rothschild & Co Redburn upped their target price on CSX from $45.50 to $47.50 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Wells Fargo & Company upped their target price on CSX from $40.00 to $50.00 and gave the company an “overweight” rating in a research report on Thursday, April 23rd. Finally, Susquehanna reissued a “neutral” rating and issued a $39.00 target price on shares of CSX in a research report on Friday, January 23rd. Sixteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $45.42.

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.