CSX Sees Unusually High Options Volume (CSX)
CSX Co. (NASDAQ:CSX) was the target of some unusual options trading on Thursday. Investors purchased 15,150 call options on the company. This represents an increase of approximately 821% compared to the typical volume of 1,645 call options.
Several research analysts have recently weighed in on CSX shares. Zacks Investment Research upgraded CSX from a “hold” rating to a “buy” rating and set a $53.00 price target for the company in a research note on Tuesday, March 21st. Deutsche Bank AG boosted their price target on CSX from $56.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, March 7th. Citigroup Inc boosted their price target on CSX from $51.00 to $58.00 and gave the stock a “buy” rating in a research note on Tuesday, March 7th. BMO Capital Markets restated a “buy” rating and issued a $58.00 price target on shares of CSX in a research note on Friday, April 21st. Finally, Aegis upgraded CSX from a “hold” rating to a “buy” rating and boosted their price target for the stock from $50.00 to $64.00 in a research note on Friday, April 21st. Eleven analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $52.06.
CSX (NASDAQ CSX) opened at 53.05 on Friday. CSX has a 1-year low of $24.43 and a 1-year high of $55.06. The company has a market cap of $48.95 billion, a price-to-earnings ratio of 28.96 and a beta of 1.19. The stock has a 50 day moving average price of $52.14 and a 200-day moving average price of $45.64.
CSX (NASDAQ:CSX) last released its quarterly earnings data on Wednesday, April 19th. The transportation company reported $0.51 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.08. The business had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.76 billion. CSX had a return on equity of 14.71% and a net margin of 15.48%. The company’s revenue was up 9.6% on a year-over-year basis. During the same quarter last year, the business posted $0.37 EPS. On average, equities research analysts forecast that CSX will post $2.29 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Wednesday, May 31st will be given a dividend of $0.20 per share. The ex-dividend date is Friday, May 26th. This is a boost from CSX’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.51%. CSX’s dividend payout ratio (DPR) is 39.78%.
In related news, CEO E Hunter Harrison acquired 300,000 shares of the stock in a transaction on Monday, April 24th. The stock was acquired at an average price of $50.20 per share, for a total transaction of $15,060,000.00. Following the completion of the purchase, the chief executive officer now owns 300,000 shares of the company’s stock, valued at $15,060,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.36% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of CSX. Paragon Capital Management Ltd acquired a new stake in CSX during the first quarter worth approximately $9,357,000. State of Alaska Department of Revenue acquired a new stake in CSX during the first quarter worth approximately $375,000. RWC Asset Management LLP boosted its stake in CSX by 53.6% in the third quarter. RWC Asset Management LLP now owns 404,370 shares of the transportation company’s stock worth $12,333,000 after buying an additional 141,070 shares during the period. Jackson Grant Investment Advisers Inc. boosted its stake in CSX by 0.3% in the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 9,519 shares of the transportation company’s stock worth $342,000 after buying an additional 25 shares during the period. Finally, Russell Investments Group Ltd. acquired a new stake in CSX during the fourth quarter worth approximately $15,156,000. Hedge funds and other institutional investors own 69.47% of the company’s stock.
CSX Corporation is a transportation company. The Company provides rail-based freight transportation services, including traditional rail service and transport of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations.
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