CSX Co. (NASDAQ:CSX) Short Interest Down 8.8% in January

CSX Co. (NASDAQ:CSX) was the target of a significant decline in short interest in the month of January. As of January 31st, there was short interest totalling 8,430,000 shares, a decline of 8.8% from the January 15th total of 9,240,000 shares. Based on an average trading volume of 3,900,000 shares, the days-to-cover ratio is presently 2.2 days. Approximately 1.1% of the shares of the company are short sold.

Shares of NASDAQ:CSX traded down $0.25 on Friday, hitting $79.59. The stock had a trading volume of 2,333,332 shares, compared to its average volume of 3,814,274. CSX has a twelve month low of $63.97 and a twelve month high of $80.73. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.33 and a current ratio of 1.52. The firm’s 50 day moving average price is $75.45 and its 200-day moving average price is $71.00. The company has a market capitalization of $62.18 billion, a price-to-earnings ratio of 19.09, a price-to-earnings-growth ratio of 1.46 and a beta of 1.17.

CSX (NASDAQ:CSX) last issued its earnings results on Thursday, January 16th. The transportation company reported $0.99 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.97 by $0.02. CSX had a net margin of 27.91% and a return on equity of 27.49%. The company had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same quarter in the previous year, the company earned $1.01 EPS. The firm’s revenue for the quarter was down 8.2% compared to the same quarter last year. As a group, sell-side analysts predict that CSX will post 4.2 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 28th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.31%. The ex-dividend date of this dividend is Thursday, February 27th. This is an increase from CSX’s previous quarterly dividend of $0.24. CSX’s payout ratio is currently 23.02%.

CSX has been the topic of a number of recent research reports. Deutsche Bank upgraded shares of CSX from a “hold” rating to a “buy” rating and lifted their price target for the stock from $72.00 to $90.00 in a research note on Thursday, February 6th. Cowen decreased their price target on shares of CSX from $83.00 to $79.00 and set a “market perform” rating on the stock in a research note on Friday, January 17th. Credit Suisse Group lifted their price target on shares of CSX from $82.00 to $84.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. Raymond James decreased their price target on shares of CSX from $81.00 to $80.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Finally, Wells Fargo & Co initiated coverage on shares of CSX in a research note on Monday, October 28th. They set a “market perform” rating and a $73.00 price target on the stock. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $78.90.

Large investors have recently modified their holdings of the company. BlackRock Inc. lifted its position in shares of CSX by 2.4% in the 2nd quarter. BlackRock Inc. now owns 48,210,842 shares of the transportation company’s stock worth $3,730,073,000 after buying an additional 1,127,117 shares during the last quarter. Confluence Investment Management LLC acquired a new stake in shares of CSX in the 3rd quarter worth about $208,000. DNB Asset Management AS increased its holdings in shares of CSX by 7.2% in the 3rd quarter. DNB Asset Management AS now owns 157,749 shares of the transportation company’s stock worth $10,927,000 after acquiring an additional 10,627 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of CSX by 9.8% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 47,895 shares of the transportation company’s stock worth $3,317,000 after acquiring an additional 4,271 shares during the period. Finally, CIBC Private Wealth Group LLC increased its holdings in shares of CSX by 23.8% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 47,407 shares of the transportation company’s stock worth $3,283,000 after acquiring an additional 9,114 shares during the period. Institutional investors own 76.19% of the company’s stock.

About CSX

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services, as well as transports intermodal containers and trailers. It transports chemicals, automotive, agricultural and food products, minerals, fertilizers, forest products, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.

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