Short Interest in CSX Corp. (CSX) Expands By 41.3%
CSX Corp. (NASDAQ:CSX) was the target of a significant increase in short interest in September. As of September 30th, there was short interest totalling 15,762,438 shares, an increase of 41.3% from the September 15th total of 11,155,529 shares. Approximately 1.7% of the company’s stock are sold short. Based on an average daily volume of 6,322,155 shares, the days-to-cover ratio is currently 2.5 days.
CSX Corp. (NASDAQ:CSX) opened at 30.21 on Thursday. The company has a 50-day moving average of $29.34 and a 200-day moving average of $27.40. The company has a market cap of $28.58 billion, a price-to-earnings ratio of 16.49 and a beta of 1.23. CSX Corp. has a one year low of $21.33 and a one year high of $31.31.
CSX Corp. (NASDAQ:CSX) last announced its quarterly earnings data on Wednesday, October 12th. The company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.03. CSX Corp. had a return on equity of 15.24% and a net margin of 16.07%. The company earned $2.71 billion during the quarter, compared to analyst estimates of $2.69 billion. During the same quarter last year, the firm posted $0.52 EPS. The firm’s revenue for the quarter was down 7.8% on a year-over-year basis. Equities research analysts expect that CSX Corp. will post $1.75 EPS for the current fiscal year.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/13/short-interest-in-csx-corp-csx-expands-by-41-3.html
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Wednesday, November 30th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.38%. The ex-dividend date of this dividend is Monday, November 28th. CSX Corp.’s dividend payout ratio (DPR) is currently 39.13%.
In other CSX Corp. news, President Clarence W. Gooden sold 17,332 shares of the company’s stock in a transaction on Monday, September 26th. The shares were sold at an average price of $29.44, for a total transaction of $510,254.08. Following the sale, the president now directly owns 127,954 shares of the company’s stock, valued at $3,766,965.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Clarence W. Gooden sold 16,129 shares of the company’s stock in a transaction on Thursday, October 6th. The stock was sold at an average price of $31.00, for a total transaction of $499,999.00. Following the sale, the president now directly owns 127,954 shares in the company, valued at $3,966,574. The disclosure for this sale can be found here. 0.36% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the company. Marco Investment Management LLC raised its stake in shares of CSX Corp. by 0.3% in the second quarter. Marco Investment Management LLC now owns 8,388 shares of the company’s stock valued at $219,000 after buying an additional 24 shares during the period. Smith Moore & CO. raised its position in CSX Corp. by 0.3% in the first quarter. Smith Moore & CO. now owns 12,897 shares of the company’s stock worth $332,000 after buying an additional 41 shares during the last quarter. Jackson Grant Investment Advisers Inc. raised its position in CSX Corp. by 0.4% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 11,280 shares of the company’s stock worth $294,000 after buying an additional 47 shares during the last quarter. IFC Holdings Incorporated FL raised its position in CSX Corp. by 0.5% in the second quarter. IFC Holdings Incorporated FL now owns 15,320 shares of the company’s stock worth $401,000 after buying an additional 72 shares during the last quarter. Finally, Canandaigua National Bank & Trust Co. raised its position in CSX Corp. by 1.0% in the third quarter. Canandaigua National Bank & Trust Co. now owns 8,380 shares of the company’s stock worth $256,000 after buying an additional 85 shares during the last quarter. 68.55% of the stock is owned by institutional investors.
Several research firms have issued reports on CSX. Vertical Research began coverage on shares of CSX Corp. in a research report on Tuesday. They set a “hold” rating on the stock. Cowen and Company upped their price target on shares of CSX Corp. from $27.00 to $30.00 and gave the stock a “market perform” rating in a research report on Friday, July 15th. Argus reaffirmed a “buy” rating and set a $35.00 price target on shares of CSX Corp. in a research report on Friday, July 15th. Deutsche Bank AG reaffirmed a “hold” rating and set a $29.00 price target (up from $27.00) on shares of CSX Corp. in a research report on Friday, July 15th. Finally, Royal Bank Of Canada upped their price target on shares of CSX Corp. from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Friday, July 15th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $29.54.
About CSX Corp.
CSX Corporation, together with its subsidiaries, is a transportation company. The Company provides rail-based transportation services, including rail service and the transport of intermodal containers and trailers. The Company serves three lines of business, such as merchandise business, coal business and intermodal business.
Receive News & Ratings for CSX Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CSX Corp. and related companies with MarketBeat.com's FREE daily email newsletter.