CSX Co. (NASDAQ:CSX) Plans Quarterly Dividend of $0.13

CSX Co. (NASDAQ:CSX) declared a quarterly dividend on Wednesday, February 12th,RTT News reports. Investors of record on Friday, February 28th will be paid a dividend of 0.13 per share by the transportation company on Friday, March 14th. This represents a $0.52 annualized dividend and a dividend yield of 1.58%. This is a boost from CSX’s previous quarterly dividend of $0.12.

CSX has increased its dividend by an average of 8.7% per year over the last three years. CSX has a dividend payout ratio of 22.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect CSX to earn $2.11 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 22.7%.

CSX Trading Down 0.6 %

NASDAQ:CSX traded down $0.19 on Wednesday, hitting $32.92. 7,723,085 shares of the stock were exchanged, compared to its average volume of 14,376,115. The stock has a market cap of $63.48 billion, a PE ratio of 18.39, a PEG ratio of 1.91 and a beta of 1.23. CSX has a fifty-two week low of $31.43 and a fifty-two week high of $40.12. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The stock has a fifty day moving average of $32.82 and a 200-day moving average of $33.84.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Thursday, January 23rd. The transportation company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a return on equity of 28.15% and a net margin of 23.95%. As a group, equities analysts expect that CSX will post 1.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CSX shares. Citigroup dropped their target price on shares of CSX from $40.00 to $39.00 and set a “buy” rating for the company in a research report on Friday, January 24th. Raymond James reiterated an “outperform” rating and set a $37.00 price target (down previously from $38.00) on shares of CSX in a research report on Friday, January 24th. Royal Bank of Canada dropped their target price on CSX from $34.00 to $33.00 and set a “sector perform” rating on the stock in a report on Friday, January 24th. Stifel Nicolaus lowered their price objective on shares of CSX from $39.00 to $37.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. Finally, Robert W. Baird dropped their price target on CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $37.16.

CSX Company Profile

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.