CSX Corporation (NASDAQ:CSX) to Issue Quarterly Dividend of $0.13

CSX Corporation (NASDAQ:CSX - Get Free Report) declared a quarterly dividend on Wednesday, July 16th, RTT News reports. Investors of record on Friday, August 29th will be paid a dividend of 0.13 per share by the transportation company on Monday, September 15th. This represents a $0.52 annualized dividend and a yield of 1.56%.

CSX has a dividend payout ratio of 27.1% indicating that its dividend is sufficiently covered by earnings. Research 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 Price Performance

CSX stock traded down $0.22 during mid-day trading on Wednesday, hitting $33.26. 11,485,306 shares of the company were exchanged, compared to its average volume of 13,415,131. The company has a quick ratio of 0.75, a current ratio of 0.88 and a debt-to-equity ratio of 1.52. The business has a fifty day moving average of $31.95 and a 200 day moving average of $31.12. CSX has a 1-year low of $26.22 and a 1-year high of $37.10. The company has a market capitalization of $62.48 billion, a PE ratio of 19.58, a price-to-earnings-growth ratio of 3.00 and a beta of 1.23.

CSX (NASDAQ:CSX - Get Free Report) last released its quarterly earnings data on Wednesday, April 16th. The transportation company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.05). CSX had a return on equity of 26.42% and a net margin of 22.66%. The company had revenue of $3.42 billion for the quarter, compared to analyst estimates of $3.53 billion. As a group, sell-side analysts expect that CSX will post 1.83 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Benchmark reiterated a "buy" rating and issued a $35.00 price objective on shares of CSX in a research report on Thursday, April 17th. Argus set a $32.00 price objective on CSX in a research report on Friday, April 25th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $35.00 price objective on shares of CSX in a research report on Monday, June 2nd. Bank of America lifted their price objective on CSX from $33.00 to $35.00 and gave the stock a "neutral" rating in a research report on Friday, June 13th. Finally, JPMorgan Chase & Co. lifted their price objective on CSX from $31.00 to $34.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Nine research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $34.82.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in CSX stock. Brighton Jones LLC boosted its position in CSX Corporation (NASDAQ:CSX - Free Report) by 5.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,254 shares of the transportation company's stock after purchasing an additional 849 shares during the quarter. Brighton Jones LLC's holdings in CSX were worth $525,000 at the end of the most recent reporting period. 73.57% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.