Stock Traders Buy High Volume of Call Options on CSX (NASDAQ:CSX)

CSX Co. (NASDAQ:CSX) saw some unusual options trading on Friday. Investors bought 5,873 call options on the company. This is an increase of 62% compared to the typical volume of 3,617 call options.

Hedge Funds Weigh In On CSX

Several institutional investors have recently bought and sold shares of CSX. Fortitude Family Office LLC purchased a new stake in CSX in the fourth quarter valued at about $27,000. Life Planning Partners Inc purchased a new position in shares of CSX in the 4th quarter valued at approximately $27,000. Financial Synergies Wealth Advisors Inc. acquired a new stake in CSX in the 1st quarter worth approximately $29,000. Turtle Creek Wealth Advisors LLC purchased a new stake in CSX during the 4th quarter worth approximately $34,000. Finally, Burkett Financial Services LLC acquired a new position in CSX during the 4th quarter valued at approximately $34,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Bank of America dropped their price target on CSX from $40.00 to $39.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. Wells Fargo & Company assumed coverage on CSX in a research note on Friday, June 7th. They set an “equal weight” rating and a $35.00 price target for the company. UBS Group dropped their price target on CSX from $46.00 to $44.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. Royal Bank of Canada lowered their price objective on CSX from $37.00 to $36.00 and set a “sector perform” rating for the company in a research note on Thursday, April 18th. Finally, Susquehanna lowered their price objective on CSX from $44.00 to $40.00 and set a “positive” rating for the company in a research note on Tuesday, June 25th. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $37.59.

CSX Trading Up 1.3 %

Shares of CSX opened at $33.45 on Friday. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.15 and a quick ratio of 1.00. The firm has a market capitalization of $65.39 billion, a price-to-earnings ratio of 18.38, a PEG ratio of 1.71 and a beta of 1.19. The company has a 50-day moving average of $33.46 and a 200 day moving average of $35.13. CSX has a 1-year low of $29.03 and a 1-year high of $40.12.

CSX (NASDAQ:CSX) last issued its earnings results on Wednesday, April 17th. The transportation company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.01. CSX had a net margin of 24.75% and a return on equity of 29.58%. The business had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same period in the prior year, the firm earned $0.48 EPS. The company’s revenue for the quarter was down .8% compared to the same quarter last year. On average, research analysts expect that CSX will post 1.96 EPS for the current year.

CSX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were issued a $0.12 dividend. The ex-dividend date was Friday, May 31st. This represents a $0.48 annualized dividend and a dividend yield of 1.43%. CSX’s dividend payout ratio is currently 26.37%.

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.