CSX Corporation (NASDAQ:CSX) Announces $0.13 Quarterly Dividend

Key Points

• CSX Corporation announced a quarterly dividend of $0.13 per share, which will be paid on December 15th to investors of record as of November 28th, representing a 1.4% dividend yield.
• The company reported a earnings per share (EPS) of $0.44 for its last quarter, exceeding the estimated EPS of $0.42, despite a 3.5% year-over-year decline in revenue.
• CSX maintains a payout ratio of 27.1%, indicating strong earnings coverage for its dividends, with analysts predicting an EPS of $2.09 for the upcoming year.

CSX Corporation (NASDAQ:CSX - Get Free Report) announced a quarterly dividend on Wednesday, October 8th, RTT News reports. Investors of record on Friday, November 28th will be paid a dividend of 0.13 per share by the transportation company on Monday, December 15th. This represents a c) annualized dividend and a dividend yield of 1.4%.

CSX has a payout ratio of 27.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect CSX to earn $2.09 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 24.9%.

CSX Stock Performance

Shares of CSX traded down $0.04 during trading hours on Wednesday, hitting $35.95. The stock had a trading volume of 13,135,166 shares, compared to its average volume of 16,845,850. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.77 and a quick ratio of 0.63. CSX has a 12 month low of $26.22 and a 12 month high of $37.25. The firm has a market capitalization of $67.02 billion, a PE ratio of 22.19, a PEG ratio of 2.82 and a beta of 1.29. The stock has a fifty day moving average price of $34.25 and a 200 day moving average price of $32.08.

CSX (NASDAQ:CSX - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.02. CSX had a return on equity of 25.48% and a net margin of 21.92%.The business had revenue of $3.57 billion during the quarter, compared to analyst estimates of $3.57 billion. During the same quarter in the previous year, the company posted $0.49 earnings per share. CSX's revenue for the quarter was down 3.5% on a year-over-year basis. Analysts anticipate that CSX will post 1.83 EPS for the current year.

Institutional Trading of CSX

Several hedge funds and other institutional investors have recently bought and sold shares of CSX. Brighton Jones LLC boosted its position in CSX by 5.5% during the 4th quarter. Brighton Jones LLC now owns 16,254 shares of the transportation company's stock valued at $525,000 after acquiring an additional 849 shares in the last quarter. Wedmont Private Capital boosted its position in CSX by 4.6% during the 1st quarter. Wedmont Private Capital now owns 16,220 shares of the transportation company's stock valued at $454,000 after acquiring an additional 711 shares in the last quarter. Capital Investment Advisors LLC lifted its holdings in shares of CSX by 2.0% during the 1st quarter. Capital Investment Advisors LLC now owns 45,664 shares of the transportation company's stock valued at $1,344,000 after purchasing an additional 892 shares during the last quarter. Portside Wealth Group LLC lifted its holdings in shares of CSX by 1.3% during the 1st quarter. Portside Wealth Group LLC now owns 27,335 shares of the transportation company's stock valued at $804,000 after purchasing an additional 361 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in shares of CSX by 61.4% during the 1st quarter. Farther Finance Advisors LLC now owns 14,154 shares of the transportation company's stock valued at $418,000 after purchasing an additional 5,382 shares during the last quarter. Institutional investors own 73.57% of the company's stock.

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.

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