CSX Co. (NASDAQ:CSX) Short Interest Update

CSX Co. (NASDAQ:CSX - Get Free Report) saw a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 25,090,000 shares, an increase of 7.3% from the March 15th total of 23,390,000 shares. Based on an average daily volume of 11,700,000 shares, the days-to-cover ratio is presently 2.1 days.

CSX Trading Down 2.0 %

NASDAQ:CSX traded down $0.68 on Wednesday, reaching $34.16. 24,336,209 shares of the company's stock were exchanged, compared to its average volume of 11,922,829. The company has a quick ratio of 0.91, a current ratio of 1.05 and a debt-to-equity ratio of 1.48. The firm has a market capitalization of $66.87 billion, a price-to-earnings ratio of 18.93, a price-to-earnings-growth ratio of 2.03 and a beta of 1.18. The business has a fifty day moving average of $37.04 and a 200-day moving average of $34.32. CSX has a 52-week low of $29.03 and a 52-week high of $40.12.

CSX (NASDAQ:CSX - Get Free Report) last announced its quarterly earnings results on Tuesday, January 23rd. The transportation company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.44 by $0.01. The company had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.63 billion. CSX had a net margin of 25.35% and a return on equity of 30.52%. The firm's revenue was down 1.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.49 earnings per share. As a group, analysts expect that CSX will post 1.97 earnings per share for the current year.

CSX Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a $0.12 dividend. This is an increase from CSX's previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend was Wednesday, February 28th. CSX's dividend payout ratio is presently 26.09%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CSX shares. StockNews.com cut shares of CSX from a "buy" rating to a "hold" rating in a research note on Wednesday, January 31st. TD Cowen upped their price objective on shares of CSX from $32.00 to $36.00 and gave the stock a "market perform" rating in a research report on Thursday, January 25th. Stifel Nicolaus boosted their target price on shares of CSX from $37.00 to $39.00 and gave the company a "buy" rating in a research note on Friday, April 12th. BMO Capital Markets upped their price target on shares of CSX from $37.00 to $38.00 and gave the company an "outperform" rating in a research note on Thursday, January 25th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and issued a $34.00 target price on shares of CSX in a research note on Thursday, January 25th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $37.28.

Institutional Investors Weigh In On CSX

Hedge funds have recently modified their holdings of the stock. Value Partners Investments Inc. acquired a new position in CSX during the 3rd quarter worth approximately $1,172,000. Morgan Stanley increased its holdings in shares of CSX by 3.1% in the 3rd quarter. Morgan Stanley now owns 24,340,514 shares of the transportation company's stock valued at $748,471,000 after acquiring an additional 739,411 shares during the last quarter. International Assets Investment Management LLC grew its stake in CSX by 3,241.9% during the 4th quarter. International Assets Investment Management LLC now owns 235,304 shares of the transportation company's stock worth $8,158,000 after buying an additional 228,263 shares during the last quarter. Sapient Capital LLC acquired a new position in CSX during the 4th quarter worth $1,279,000. Finally, EP Wealth Advisors LLC boosted its position in CSX by 414.8% during the 3rd quarter. EP Wealth Advisors LLC now owns 51,534 shares of the transportation company's stock worth $1,585,000 after acquiring an additional 41,524 shares during the period. 73.57% of the stock is 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.