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

CSX Corporation (NASDAQ:CSX) declared a quarterly dividend on Thursday, October 8th. Investors of record on Monday, November 30th will be paid a dividend of $0.14 per share by the transportation company on Tuesday, December 15th. This represents a $0.56 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Monday, November 30th.

CSX has increased its dividend payment by an average of 0.1%per year over the last three years and has increased 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 $2.22 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 25.2%.

CSX Price Performance

CSX stock opened at $47.34 on Friday. CSX has a 1 year low of $33.63 and a 1 year high of $53.60. The company has a market cap of $87.70 billion, a P/E ratio of 27.36, a PEG ratio of 2.20 and a beta of 1.21. The firm has a 50-day moving average of $49.07 and a 200 day moving average of $47.00. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.82 and a quick ratio of 0.72.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.02. CSX had a return on equity of 24.98% and a net margin of 22.21%.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 firm posted $0.44 EPS. The business’s revenue was up 10.1% on a year-over-year basis. On average, sell-side analysts forecast that CSX will post 2 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CSX. Wall Street Zen lowered CSX from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. TD Cowen raised their price objective on CSX from $46.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. Susquehanna dropped their target price on shares of CSX from $59.00 to $55.00 and set a “positive” rating on the stock in a report on Friday, October 2nd. Morgan Stanley set a $32.00 target price on shares of CSX and gave the stock an “underweight” rating in a research report on Monday, July 6th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a $52.00 target price (up from $49.00) on shares of CSX in a research report on Thursday, July 23rd. Eighteen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $51.06.

About CSX

CSX Corporation (NASDAQ:CSX) is a transportation company that provides rail-based freight services through its principal subsidiary, CSX Transportation. The company moves a broad range of products, including agricultural and food products, chemicals, minerals, forest products, metals, automotive shipments, and consumer goods.

CSX also provides intermodal transportation, connecting rail shipments with trucks, ports, and distribution facilities. Its network serves the eastern United States and reaches parts of Canada, linking major industrial regions, population centers, manufacturing locations, and Atlantic and Gulf Coast ports.

CSX traces its history to the 1980 merger of Chessie System and Seaboard Coast Line Industries.