CSX Co. (NASDAQ:CSX) Short Interest Update

CSX Co. (NASDAQ:CSX) was the recipient of a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 23,810,000 shares, a growth of 5.3% from the October 31st total of 22,610,000 shares. Based on an average daily volume of 11,660,000 shares, the days-to-cover ratio is currently 2.0 days.

CSX Stock Down 0.9 %

Shares of CSX stock traded down $0.32 during mid-day trading on Tuesday, hitting $36.02. The company’s stock had a trading volume of 4,609,889 shares, compared to its average volume of 11,611,224. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 1.39. CSX has a 52-week low of $31.74 and a 52-week high of $40.12. The stock has a market cap of $69.46 billion, a price-to-earnings ratio of 19.54, a PEG ratio of 2.32 and a beta of 1.20. The business has a 50-day moving average price of $34.70 and a 200 day moving average price of $34.03.

CSX (NASDAQ:CSX) last posted its earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.02). CSX had a net margin of 24.77% and a return on equity of 28.92%. The company had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.68 billion. During the same quarter in the prior year, the company posted $0.42 EPS. CSX’s revenue was up 1.3% on a year-over-year basis. Research analysts predict that CSX will post 1.84 EPS for the current fiscal year.

CSX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date is Friday, November 29th. CSX’s payout ratio is 25.81%.

Institutional Trading of CSX

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CSX. Valley Wealth Managers Inc. raised its holdings in CSX by 177.8% in the 3rd quarter. Valley Wealth Managers Inc. now owns 750 shares of the transportation company’s stock worth $26,000 after purchasing an additional 480 shares during the period. Itau Unibanco Holding S.A. purchased a new position in shares of CSX during the 2nd quarter valued at about $26,000. MFA Wealth Advisors LLC bought a new position in shares of CSX during the 2nd quarter valued at approximately $27,000. Fairscale Capital LLC bought a new stake in CSX during the 2nd quarter worth approximately $32,000. Finally, Morton Brown Family Wealth LLC purchased a new stake in shares of CSX in the third quarter worth $31,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CSX shares. Citigroup increased their price objective on CSX from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. BMO Capital Markets reduced their price objective on shares of CSX from $40.00 to $39.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Evercore ISI lowered their price objective on shares of CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Benchmark reissued a “buy” rating and issued a $40.00 target price on shares of CSX in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. upped their price target on CSX from $39.00 to $42.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 6th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, CSX currently has a consensus rating of “Moderate Buy” and an average price target of $38.78.

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.