Short Interest in CSX Co. (CSX) Expands By 20.9%

CSX Co. (NASDAQ:CSX) was the recipient of a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 16,115,722 shares, a growth of 20.9% from the October 15th total of 13,330,657 shares. Based on an average trading volume of 8,360,361 shares, the short-interest ratio is presently 1.9 days. Currently, 1.9% of the company’s stock are sold short.

Shares of NASDAQ:CSX opened at $70.66 on Friday. The company has a market cap of $61.06 billion, a P/E ratio of 30.72, a P/E/G ratio of 1.43 and a beta of 1.27. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.29 and a current ratio of 1.43. CSX has a 12-month low of $48.26 and a 12-month high of $76.24.

CSX (NASDAQ:CSX) last announced its earnings results on Tuesday, October 16th. The transportation company reported $1.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.11. The company had revenue of $3.13 billion for the quarter, compared to analysts’ expectations of $3.05 billion. CSX had a return on equity of 21.38% and a net margin of 55.19%. CSX’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.51 earnings per share. As a group, research analysts predict that CSX will post 3.8 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 30th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.88 annualized dividend and a dividend yield of 1.25%. CSX’s payout ratio is 38.26%.

A number of brokerages have commented on CSX. BidaskClub raised CSX from a “hold” rating to a “buy” rating in a research note on Friday, November 2nd. Cowen reissued a “$69.00” rating and issued a $74.00 price objective on shares of CSX in a research note on Wednesday, July 18th. UBS Group set a $82.00 price objective on CSX and gave the company a “buy” rating in a research note on Wednesday, July 18th. Stephens reissued a “buy” rating and issued a $86.00 price objective on shares of CSX in a research note on Monday, October 22nd. Finally, Royal Bank of Canada reissued an “outperform” rating on shares of CSX in a research note on Wednesday, October 17th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company’s stock. CSX has a consensus rating of “Buy” and an average target price of $77.60.

Large investors have recently made changes to their positions in the stock. Morningstar Investment Services LLC purchased a new position in shares of CSX during the second quarter valued at approximately $204,000. Meeder Asset Management Inc. purchased a new position in shares of CSX during the second quarter valued at approximately $376,000. Millennium Management LLC boosted its position in shares of CSX by 13.3% during the second quarter. Millennium Management LLC now owns 4,847,225 shares of the transportation company’s stock valued at $309,156,000 after buying an additional 569,310 shares during the last quarter. Hartford Financial Management Inc. boosted its position in shares of CSX by 56.0% during the second quarter. Hartford Financial Management Inc. now owns 109,736 shares of the transportation company’s stock valued at $6,999,000 after buying an additional 39,409 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its position in shares of CSX by 12.8% during the second quarter. State of Alaska Department of Revenue now owns 128,747 shares of the transportation company’s stock valued at $8,209,000 after buying an additional 14,610 shares during the last quarter. 76.20% of the stock is currently owned by institutional investors.

COPYRIGHT VIOLATION NOTICE: “Short Interest in CSX Co. (CSX) Expands By 20.9%” was reported by WKRB News and is owned by of WKRB News. If you are viewing this story on another publication, it was illegally copied and republished in violation of U.S. & international copyright & trademark law. The legal version of this story can be viewed at https://www.wkrb13.com/2018/11/11/short-interest-in-csx-co-csx-expands-by-20-9.html.

About CSX

CSX Corporation, together with its subsidiaries, provides rail-based transportation services in the United States and Canada. The company offers rail services, as well as transports intermodal containers and trailers. It transports agricultural and food products, fertilizers, chemicals, automotive, metals and equipment, minerals, and forest products; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.

Recommended Story: Return on Equity (ROE)

Receive News & Ratings for CSX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CSX and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply