CSX Co. (NASDAQ:CSX) to Issue Quarterly Dividend of $0.12

CSX Co. (NASDAQ:CSX) declared a quarterly dividend on Wednesday, July 10th, Zacks reports. Investors of record on Friday, August 30th will be given a dividend of 0.12 per share by the transportation company on Friday, September 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend is Friday, August 30th.

CSX has raised 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 dividend payout ratio of 22.3% meaning its dividend is sufficiently covered by earnings. Analysts expect CSX to earn $2.15 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 22.3%.

CSX Stock Up 0.4 %

Shares of CSX stock opened at $33.72 on Thursday. The company has a current ratio of 1.15, a quick ratio of 1.00 and a debt-to-equity ratio of 1.42. CSX has a 1 year low of $29.03 and a 1 year high of $40.12. The stock has a 50-day moving average price of $33.76 and a 200 day moving average price of $34.79. The company has a market cap of $65.92 billion, a P/E ratio of 18.53, a P/E/G ratio of 1.89 and a beta of 1.20.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Monday, August 5th. The transportation company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01. CSX had a net margin of 24.75% and a return on equity of 29.58%. The business had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.70 billion. During the same period in the prior year, the business posted $0.49 earnings per share. CSX’s revenue for the quarter was up .0% compared to the same quarter last year. As a group, analysts expect that CSX will post 1.94 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on CSX shares. BMO Capital Markets reaffirmed an “outperform” rating and set a $40.00 price objective on shares of CSX in a report on Tuesday, August 6th. Benchmark reissued a “buy” rating and issued a $40.00 price objective on shares of CSX in a research report on Wednesday, August 7th. Bank of America lowered shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 target price on the stock. in a research report on Monday, July 8th. Stephens reissued an “overweight” rating and issued a $42.00 price target on shares of CSX in a report on Tuesday, August 6th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $36.00 target price on shares of CSX in a research note on Tuesday, August 6th. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, CSX has a consensus rating of “Moderate Buy” and an average price target of $38.80.

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.