CSX Co. (CSX) to Issue Quarterly Dividend of $0.12 on December 13th

CSX Co. (NASDAQ:CSX) declared a quarterly dividend on Thursday, October 3rd, Zacks reports. Investors 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 annualized dividend and a yield of 1.39%. The ex-dividend date is Friday, November 29th.

CSX has raised its dividend by an average of 8.3% annually over the last three years and has increased its dividend annually for the last 20 consecutive years. CSX has a dividend payout ratio of 22.5% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Up 1.1 %

Shares of NASDAQ CSX opened at $34.49 on Friday. The company’s 50 day simple moving average is $33.97 and its 200 day simple moving average is $34.15. CSX has a fifty-two week low of $29.03 and a fifty-two week high of $40.12. The firm has a market capitalization of $67.43 billion, a P/E ratio of 18.95, a P/E/G ratio of 1.91 and a beta of 1.19. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.16 and a quick ratio of 1.01.

CSX (NASDAQ:CSX) last announced its quarterly earnings data 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. CSX had a net margin of 24.52% and a return on equity of 29.11%. The business had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.70 billion. During the same period in the prior year, the business posted $0.49 earnings per share. CSX’s revenue was up .0% compared to the same quarter last year. On average, analysts predict that CSX will post 1.93 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CSX. Evercore ISI upgraded shares of CSX to a “strong-buy” rating in a report on Tuesday, August 6th. Sanford C. Bernstein raised 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. Barclays dropped their price objective on shares of CSX from $41.00 to $40.00 and set an “overweight” rating on the stock in a report on Wednesday, September 25th. Susquehanna raised their price objective on shares of CSX from $41.00 to $42.00 and gave the stock a “positive” rating in a report on Wednesday. Finally, Wells Fargo & Company began coverage on shares of CSX in a report on Friday, June 7th. They set an “equal weight” rating and a $35.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average 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.