CSX Co. (NASDAQ:CSX) Plans $0.12 Quarterly Dividend

CSX Co. (NASDAQ:CSX) declared a quarterly dividend on Wednesday, October 2nd,Zacks Dividends reports. Shareholders of record on Friday, November 29th will be paid a dividend of 0.12 per share by the transportation company on Friday, December 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend is Friday, November 29th.

CSX has increased its dividend payment by an average of 8.3% annually over the last three years and has raised its dividend every year for the last 20 years. CSX has a payout ratio of 23.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect CSX to earn $2.04 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 23.5%.

CSX Trading Down 0.3 %

Shares of NASDAQ CSX opened at $36.58 on Thursday. CSX has a 1-year low of $31.65 and a 1-year high of $40.12. The company has a market cap of $70.54 billion, a PE ratio of 19.67, a P/E/G ratio of 2.32 and a beta of 1.19. The company has a current ratio of 1.39, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The company has a 50-day moving average of $34.64 and a two-hundred day moving average of $33.99.

CSX (NASDAQ:CSX) last announced its earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). CSX had a return on equity of 28.92% and a net margin of 24.77%. The company had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.68 billion. During the same period in the prior year, the firm posted $0.42 earnings per share. The company’s revenue was up 1.3% on a year-over-year basis. As a group, equities analysts expect that CSX will post 1.84 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CSX. Stephens dropped their target price on shares of CSX from $41.00 to $39.00 and set an “overweight” rating for the company in a research note on Thursday, October 17th. Loop Capital dropped their price target on shares of CSX from $43.00 to $42.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. JPMorgan Chase & Co. boosted their price target on shares of CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. Wells Fargo & Company dropped their price target on shares of CSX from $35.00 to $34.00 and set an “equal weight” rating for the company in a research note on Thursday, October 17th. Finally, Evercore ISI dropped their price target on shares of CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, CSX presently has an average rating of “Moderate Buy” and a consensus target price of $38.78.

About CSX

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It also transports chemicals, agricultural and food products, minerals, automotive, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities.