CSX Corporation Declares Quarterly Dividend of $0.20 (CSX)
CSX Corporation (NASDAQ:CSX) announced a quarterly dividend on Thursday, October 5th, RTT News reports. Investors of record on Thursday, November 30th will be paid a dividend of 0.20 per share by the transportation company on Friday, December 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.53%.
CSX Corporation (CSX) traded up 1.02% during midday trading on Thursday, reaching $52.35. The company’s stock had a trading volume of 5,032,894 shares. The firm has a market capitalization of $47.81 billion, a PE ratio of 27.38 and a beta of 1.35. The stock’s 50-day moving average price is $51.22 and its 200 day moving average price is $51.11. CSX Corporation has a 1-year low of $30.01 and a 1-year high of $55.48.
CSX Corporation (NASDAQ:CSX) last announced its quarterly earnings results on Tuesday, July 18th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.05. The company had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.85 billion. CSX Corporation had a return on equity of 16.93% and a net margin of 15.46%. CSX Corporation’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.47 EPS. Equities analysts anticipate that CSX Corporation will post $2.22 EPS for the current fiscal year.
CSX Corporation announced that its board has authorized a stock buyback plan on Tuesday, July 18th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the transportation company to repurchase up to 1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.
WARNING: This piece was reported by American Banking News and is the sole property of of American Banking News. If you are viewing this piece on another publication, it was stolen and republished in violation of US and international copyright law. The correct version of this piece can be read at https://www.americanbankingnews.com/2017/10/05/csx-corporation-declares-quarterly-dividend-of-0-20-csx.html.
In other CSX Corporation news, Director Ridge Lp Mantle purchased 1,357,000 shares of CSX Corporation stock in a transaction on Friday, July 21st. The shares were bought at an average price of $51.59 per share, with a total value of $70,007,630.00. Following the purchase, the director now directly owns 106 shares in the company, valued at approximately $5,468.54. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.79% of the stock is currently owned by corporate insiders.
CSX has been the subject of several research reports. BidaskClub raised CSX Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, September 12th. TD Securities reduced their target price on CSX Corporation from $64.00 to $63.00 and set a “buy” rating for the company in a report on Thursday, July 20th. Royal Bank Of Canada reissued a “buy” rating and issued a $65.00 target price on shares of CSX Corporation in a report on Friday, June 9th. Morgan Stanley downgraded CSX Corporation from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $44.00 to $43.00 in a report on Monday. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $55.00 target price (down from $57.00) on shares of CSX Corporation in a report on Thursday, September 7th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and eighteen have given a buy rating to the company’s stock. CSX Corporation presently has an average rating of “Buy” and an average target price of $54.09.
CSX Corporation Company Profile
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.
Receive News & Ratings for CSX Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CSX Corporation and related companies with MarketBeat.com's FREE daily email newsletter.