CSX Co. (NASDAQ:CSX – Get Free Report) announced a quarterly dividend on Thursday, October 3rd, Zacks reports. Shareholders of record on Friday, November 29th will be given a dividend of 0.12 per share by the transportation company on Friday, December 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date of this dividend is Friday, November 29th.
CSX has raised its dividend by an average of 8.3% per year over the last three years and has increased its dividend every year for the last 20 years. CSX has a payout ratio of 22.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect CSX to earn $2.14 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 22.4%.
CSX Price Performance
Shares of CSX opened at $34.49 on Friday. The business has a 50-day moving average of $33.97 and a 200-day moving average of $34.15. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.16 and a quick ratio of 1.01. The company has a market capitalization of $67.43 billion, a price-to-earnings ratio of 18.95, a price-to-earnings-growth ratio of 1.91 and a beta of 1.19. CSX has a 1 year low of $29.03 and a 1 year high of $40.12.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on the stock. Wells Fargo & Company started coverage on shares of CSX in a research report on Friday, June 7th. They set an “equal weight” rating and a $35.00 price objective for the company. Stephens reiterated an “overweight” rating and issued a $42.00 target price on shares of CSX in a report on Tuesday, August 6th. Sanford C. Bernstein raised their price objective on shares of CSX from $35.00 to $36.00 and gave the stock a “market perform” rating in a report on Monday, July 8th. BMO Capital Markets restated an “outperform” rating and set a $40.00 price target on shares of CSX in a research note on Tuesday, August 6th. Finally, Susquehanna upped their price objective on CSX from $41.00 to $42.00 and gave the company a “positive” rating in a research note on Wednesday. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, CSX currently has a consensus rating of “Moderate Buy” and an average price target of $39.00.
View Our Latest Analysis on CSX
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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