CSX Corporation (NASDAQ:CSX) Declares Quarterly Dividend of $0.14

CSX Corporation (NASDAQ:CSX) declared a quarterly dividend on Friday, July 17th. Stockholders of record on Monday, August 31st will be paid a dividend of 0.14 per share by the transportation company on Tuesday, September 15th. This represents a c) dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Monday, August 31st.

CSX has increased its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 21 years. CSX has a payout ratio of 29.2% meaning its dividend is sufficiently covered by earnings. Analysts expect CSX to earn $2.23 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 25.1%.

CSX Stock Performance

Shares of CSX opened at $51.28 on Friday. The company has a market capitalization of $94.99 billion, a PE ratio of 29.64, a PEG ratio of 2.35 and a beta of 1.21. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.72 and a current ratio of 0.82. The company’s 50 day moving average price is $49.91 and its 200 day moving average price is $45.57. CSX has a 52 week low of $31.80 and a 52 week high of $53.60.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.52 by $0.02. CSX had a net margin of 22.21% and a return on equity of 24.98%. The business had revenue of $3.94 billion for the quarter, compared to analysts’ expectations of $3.89 billion. During the same period in the previous year, the company posted $0.44 EPS. CSX’s revenue was up 10.1% on a year-over-year basis. Research analysts expect that CSX will post 2 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently weighed in on CSX. TD Cowen raised their price objective on shares of CSX from $46.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. JPMorgan Chase & Co. raised their price target on shares of CSX from $56.00 to $58.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Stifel Nicolaus set a $54.00 price objective on shares of CSX in a research note on Thursday, July 23rd. Robert W. Baird raised their target price on CSX from $49.00 to $53.00 and gave the company an “outperform” rating in a report on Tuesday, July 7th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $56.00 price target on shares of CSX in a research note on Monday, July 13th. Eighteen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $51.31.

About CSX

CSX Corporation is a leading North American transportation company that provides rail-based freight services and supply-chain solutions. Its operating subsidiary, CSX Transportation, moves a wide range of goods for customers across multiple industries, using a combination of long-haul rail service, intermodal operations and terminal and yard services. The company focuses on delivering efficient, reliable freight transportation between major production centers, consumption markets and port gateways.

CSX’s freight portfolio includes intermodal containers and trailers, bulk commodities, industrial products and specialized unit trains.