CSX Corporation (CSX) To Go Ex-Dividend on August 31st

CSX Corporation (NASDAQ:CSX) announced a quarterly dividend on Friday, July 17th. Investors 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 raised its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 21 consecutive years. CSX has a payout ratio of 29.2% indicating that its dividend is sufficiently covered by earnings. Equities research 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

CSX stock opened at $51.28 on Friday. The business has a 50-day moving average price of $49.91 and a 200 day moving average price of $45.57. CSX has a 1-year low of $31.80 and a 1-year high of $53.60. The company has a market capitalization of $94.99 billion, a P/E 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 current ratio of 0.82 and a quick ratio of 0.72.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Wednesday, July 22nd. The transportation company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. The company had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $3.89 billion. CSX had a return on equity of 24.98% and a net margin of 22.21%.The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.44 earnings per share. As a group, equities research analysts forecast that CSX will post 2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on CSX shares. Argus set a $56.00 target price on shares of CSX in a research note on Friday, July 31st. Truist Financial set a $46.00 price target on CSX in a report on Friday, July 10th. Stifel Nicolaus set a $54.00 price objective on shares of CSX in a report on Thursday, July 23rd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $59.00 price objective on shares of CSX in a report on Friday, July 24th. Finally, BMO Capital Markets restated a “market perform” rating and issued a $52.00 target price (up from $49.00) on shares of CSX in a report on Thursday, July 23rd. Eighteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $51.31.

CSX Company Profile

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.