CSX Co. (NASDAQ:CSX) Plans $0.12 Quarterly Dividend

CSX Co. (NASDAQ:CSX) announced a quarterly dividend on Thursday, October 3rd, Zacks reports. Shareholders of record on Friday, November 29th will be paid a dividend of 0.12 per share by the transportation company on Friday, December 13th. This represents a $0.48 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend is Friday, November 29th.

CSX has raised its dividend payment by an average of 8.3% per year over the last three years and has raised its dividend every year for the last 20 years. CSX has a payout ratio of 22.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect CSX to earn $2.14 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 22.4%.

CSX Stock Up 1.1 %

CSX stock opened at $34.49 on Friday. The firm has a market capitalization of $67.43 billion, a price-to-earnings ratio of 18.95, a price-to-earnings-growth ratio of 1.91 and a beta of 1.19. The firm’s fifty day moving average price is $33.97 and its two-hundred day moving average price is $34.15. CSX has a 1-year low of $29.03 and a 1-year high of $40.12. The company has a current ratio of 1.16, a quick ratio of 1.01 and a debt-to-equity ratio of 1.42.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Monday, August 5th. The transportation company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.01. The business had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.70 billion. CSX had a net margin of 24.52% and a return on equity of 29.11%. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.49 EPS. On average, equities research analysts predict that CSX will post 1.93 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently issued reports on CSX shares. Evercore ISI raised CSX to a “strong-buy” rating in a research report on Tuesday, August 6th. Sanford C. Bernstein lifted their price objective on shares of CSX from $35.00 to $36.00 and gave the stock a “market perform” rating in a report on Monday, July 8th. Susquehanna increased their target price on shares of CSX from $41.00 to $42.00 and gave the company a “positive” rating in a report on Wednesday. BMO Capital Markets restated an “outperform” rating and set a $40.00 price target on shares of CSX in a report on Tuesday, August 6th. Finally, Bank of America lowered shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a research note on Monday, July 8th. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, CSX currently has an average rating of “Moderate Buy” and a consensus price target of $39.00.

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.