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

CSX Co. (NASDAQ:CSX) announced a quarterly dividend on Wednesday, May 8th, RTT News reports. Shareholders 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 yield of 1.40%.

CSX has increased its dividend by an average of 8.3% annually 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% indicating that its dividend is sufficiently covered by earnings. Equities research 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 traded up $0.26 during mid-day trading on Wednesday, reaching $34.22. 8,092,216 shares of the company’s stock traded hands, compared to its average volume of 12,196,176. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.15 and a quick ratio of 1.00. The business has a 50-day simple moving average of $36.06 and a 200 day simple moving average of $34.64. The stock has a market cap of $66.90 billion, a P/E ratio of 18.66, a PEG ratio of 2.03 and a beta of 1.19. CSX has a 1-year low of $29.03 and a 1-year high of $40.12.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Wednesday, April 17th. The transportation company reported $0.46 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $3.66 billion. During the same period last year, the business earned $0.48 EPS. The business’s revenue was down .8% on a year-over-year basis. On average, analysts expect that CSX will post 1.95 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CSX shares. Benchmark reaffirmed a “buy” rating and set a $40.00 price target on shares of CSX in a research report on Thursday, April 18th. BMO Capital Markets increased their target price on shares of CSX from $37.00 to $38.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Royal Bank of Canada lowered their price target on shares of CSX from $37.00 to $36.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 18th. UBS Group cut their price objective on shares of CSX from $46.00 to $44.00 and set a “buy” rating for the company in a report on Thursday, April 18th. Finally, StockNews.com lowered shares of CSX from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.