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

CSX Co. (NASDAQ:CSX) 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.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Monday, August 5th. The transportation company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.01. CSX had a net margin of 24.52% and a return on equity of 29.11%. The firm had revenue of $3.70 billion during the quarter, compared to analyst estimates of $3.70 billion. During the same quarter last year, the business earned $0.49 EPS. The company’s revenue was up .0% compared to the same quarter last year. As a group, equities research analysts anticipate that CSX will post 1.93 earnings per share for the current year.

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.

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.