CSX Co. (NASDAQ:CSX – Get Free Report) 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.
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.
Check Out Our Latest Stock Report on CSX
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.
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