CSX Co. (CSX) Increases Dividend to $0.22 Per Share

CSX Co. (NASDAQ:CSX) declared a quarterly dividend on Monday, February 12th, RTT News reports. Investors of record on Thursday, March 1st will be given a dividend of 0.22 per share by the transportation company on Thursday, March 15th. This represents a $0.88 annualized dividend and a dividend yield of 1.73%. This is an increase from CSX’s previous quarterly dividend of $0.20.

CSX (NASDAQ:CSX) traded up $0.42 during midday trading on Monday, hitting $50.89. 12,278,101 shares of the company traded hands, compared to its average volume of 7,082,178. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.81 and a current ratio of 1.01. The company has a market cap of $45,480.00, a price-to-earnings ratio of 8.51, a PEG ratio of 1.23 and a beta of 1.26. CSX has a 1 year low of $45.41 and a 1 year high of $60.04.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Tuesday, January 16th. The transportation company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.56 by $0.08. The firm had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.89 billion. CSX had a net margin of 47.96% and a return on equity of 17.16%. CSX’s revenue was down 5.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.49 EPS. analysts anticipate that CSX will post 3.11 EPS for the current year.

CSX announced that its board has authorized a stock repurchase program on Wednesday, October 25th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the transportation company to buy shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

In related news, Director Gary Keith Anderson acquired 5,000 shares of CSX stock in a transaction on Friday, November 24th. The stock was bought at an average cost of $2,300.00 per share, for a total transaction of $11,500,000.00. Corporate insiders own 4.79% of the company’s stock.

CSX has been the topic of several recent research reports. BidaskClub downgraded shares of CSX from a “hold” rating to a “sell” rating in a report on Monday, February 5th. Scotiabank set a $63.00 price objective on shares of CSX and gave the company a “hold” rating in a report on Wednesday, January 17th. Cowen reaffirmed a “market perform” rating and issued a $61.00 price objective (up from $54.00) on shares of CSX in a report on Wednesday, January 17th. Barclays increased their price target on shares of CSX from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Wednesday, October 18th. Finally, Citigroup reissued a “buy” rating and set a $64.00 price target on shares of CSX in a report on Wednesday, January 17th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and seventeen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $60.19.

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About CSX

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.

Dividend History for CSX (NASDAQ:CSX)

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