CSX Co. (NASDAQ:CSX) announced a quarterly dividend on Wednesday, July 10th, RTT News reports. Stockholders of record on Friday, August 30th will be given a dividend of 0.24 per share by the transportation company on Friday, September 13th. This represents a $0.96 annualized dividend and a dividend yield of 1.24%.
CSX has raised its dividend by an average of 7.9% per year over the last three years and has increased its dividend annually for the last 9 consecutive years. CSX has a dividend payout ratio of 26.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect CSX to earn $4.73 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 20.3%.
NASDAQ:CSX opened at $77.25 on Friday. CSX has a twelve month low of $58.47 and a twelve month high of $80.73. The company has a market capitalization of $61.97 billion, a P/E ratio of 20.12, a price-to-earnings-growth ratio of 1.34 and a beta of 1.22. The stock’s fifty day simple moving average is $77.03. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.68 and a current ratio of 1.81.
In other news, EVP Nathan D. Goldman sold 7,000 shares of the business’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $79.50, for a total transaction of $556,500.00. Following the sale, the executive vice president now owns 79,697 shares in the company, valued at $6,335,911.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Angela C. Williams sold 9,560 shares of the business’s stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $79.14, for a total value of $756,578.40. Following the sale, the vice president now owns 14,607 shares in the company, valued at approximately $1,155,997.98. The disclosure for this sale can be found here. 4.83% of the stock is owned by insiders.
Several analysts recently weighed in on the company. SNS Securities downgraded CSX from a “positive” rating to a “neutral” rating in a report on Wednesday, April 3rd. TD Securities downgraded Western Forest Products from a “buy” rating to a “hold” rating and decreased their price objective for the company from C$2.25 to C$2.00 in a report on Wednesday, April 17th. BMO Capital Markets assumed coverage on Yelp in a report on Wednesday, April 17th. They issued an “outperform” rating for the company. ValuEngine downgraded Acceleron Pharma from a “strong-buy” rating to a “buy” rating in a report on Thursday, April 18th. Finally, Susquehanna Bancshares reiterated a “neutral” rating on shares of CSX in a research note on Wednesday, April 3rd. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nine have assigned a buy rating to the stock. CSX presently has an average rating of “Hold” and an average price target of $79.18.
CSX Company Profile
CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services, as well as transports intermodal containers and trailers. It transports chemicals, automotive, agricultural and food products, minerals, fertilizers, forest products, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.
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