CSX Co. (NASDAQ:CSX) Announces Quarterly Dividend of $0.10

CSX Co. (NASDAQ:CSXGet Rating) declared a quarterly dividend on Tuesday, May 10th, RTT News reports. Shareholders of record on Tuesday, May 31st will be given a dividend of 0.10 per share by the transportation company on Wednesday, June 15th. This represents a $0.40 annualized dividend and a yield of 1.22%.

CSX has increased its dividend by an average of 8.4% annually over the last three years and has raised its dividend annually for the last 1 consecutive years. CSX has a payout ratio of 20.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect CSX to earn $1.95 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 20.5%.

CSX traded down $0.84 during trading on Tuesday, hitting $32.78. 24,683,939 shares of the company traded hands, compared to its average volume of 15,836,312. CSX has a one year low of $29.49 and a one year high of $38.63. The stock’s fifty day moving average is $35.42 and its 200 day moving average is $35.51. The company has a quick ratio of 1.32, a current ratio of 1.46 and a debt-to-equity ratio of 1.21. The firm has a market cap of $71.27 billion, a P/E ratio of 18.81, a price-to-earnings-growth ratio of 1.88 and a beta of 1.21.

CSX (NASDAQ:CSXGet Rating) last issued its quarterly earnings results on Wednesday, April 20th. The transportation company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.02. CSX had a net margin of 29.98% and a return on equity of 27.47%. The company had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.31 billion. During the same quarter last year, the business posted $0.31 EPS. CSX’s quarterly revenue was up 21.3% compared to the same quarter last year. On average, equities research analysts forecast that CSX will post 1.82 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the business. Sei Investments Co. grew its position in CSX by 23.7% during the fourth quarter. Sei Investments Co. now owns 187,384 shares of the transportation company’s stock valued at $7,069,000 after acquiring an additional 35,934 shares during the last quarter. D. E. Shaw & Co. Inc. grew its holdings in shares of CSX by 26.5% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 144,671 shares of the transportation company’s stock valued at $5,440,000 after purchasing an additional 30,342 shares during the last quarter. Toroso Investments LLC grew its holdings in shares of CSX by 158.9% during the 4th quarter. Toroso Investments LLC now owns 110,814 shares of the transportation company’s stock valued at $4,167,000 after purchasing an additional 68,011 shares during the last quarter. NewEdge Advisors LLC lifted its stake in CSX by 11.2% in the fourth quarter. NewEdge Advisors LLC now owns 53,225 shares of the transportation company’s stock worth $2,001,000 after purchasing an additional 5,340 shares during the last quarter. Finally, EP Wealth Advisors LLC boosted its position in CSX by 6.8% during the fourth quarter. EP Wealth Advisors LLC now owns 35,194 shares of the transportation company’s stock valued at $1,323,000 after buying an additional 2,244 shares during the period. 74.81% of the stock is owned by hedge funds and other institutional investors.

Several research analysts have recently weighed in on CSX shares. Susquehanna increased their price target on CSX from $44.00 to $45.00 and gave the stock a “positive” rating in a research note on Thursday, April 21st. Argus lifted their target price on shares of CSX from $39.00 to $41.00 in a research note on Friday, April 22nd. Wells Fargo & Company dropped their price target on shares of CSX from $41.00 to $37.00 and set an “equal weight” rating on the stock in a research note on Friday, January 21st. StockNews.com lowered shares of CSX from a “buy” rating to a “hold” rating in a research note on Friday, April 29th. Finally, Royal Bank of Canada upgraded CSX from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $37.00 to $39.00 in a research report on Thursday, March 17th. One research analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $38.91.

CSX Company Profile (Get Rating)

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 transports chemicals, agricultural and food products, automotive, minerals, 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.

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Dividend History for CSX (NASDAQ:CSX)

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