CSX Co. (NASDAQ:CSX) Short Interest Update

CSX Co. (NASDAQ:CSX) saw a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 23,390,000 shares, an increase of 6.6% from the February 29th total of 21,950,000 shares. Based on an average daily volume of 11,350,000 shares, the days-to-cover ratio is currently 2.1 days.

Analysts Set New Price Targets

CSX has been the topic of several analyst reports. StockNews.com downgraded shares of CSX from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. BMO Capital Markets lifted their target price on shares of CSX from $37.00 to $38.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Susquehanna boosted their price objective on shares of CSX from $42.00 to $44.00 and gave the stock a “positive” rating in a report on Thursday, March 28th. Royal Bank of Canada reissued a “sector perform” rating and set a $34.00 price objective on shares of CSX in a report on Thursday, January 25th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of CSX from $40.00 to $39.00 and set an “overweight” rating on the stock in a report on Thursday, December 21st. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, CSX presently has an average rating of “Moderate Buy” and a consensus price target of $36.88.

CSX Stock Performance

NASDAQ:CSX opened at $36.42 on Thursday. The company has a quick ratio of 0.91, a current ratio of 1.05 and a debt-to-equity ratio of 1.48. The company has a market cap of $71.30 billion, a P/E ratio of 19.79, a P/E/G ratio of 2.13 and a beta of 1.18. CSX has a fifty-two week low of $29.03 and a fifty-two week high of $40.12. The firm’s 50 day moving average is $37.11 and its two-hundred day moving average is $34.00.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Tuesday, January 23rd. The transportation company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. CSX had a net margin of 25.35% and a return on equity of 30.52%. The company had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.63 billion. During the same quarter last year, the firm posted $0.49 earnings per share. CSX’s revenue was down 1.3% on a year-over-year basis. Analysts expect that CSX will post 1.96 EPS for the current year.

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date was Wednesday, February 28th. This is an increase from CSX’s previous quarterly dividend of $0.11. CSX’s dividend payout ratio (DPR) is currently 26.09%.

Institutional Investors Weigh In On CSX

A number of large investors have recently added to or reduced their stakes in the company. HighPoint Advisor Group LLC acquired a new stake in CSX during the 4th quarter valued at $2,842,000. Fairman Group LLC acquired a new position in shares of CSX in the 4th quarter valued at about $55,000. Ables Iannone Moore & Associates Inc. acquired a new position in shares of CSX in the 4th quarter valued at about $1,656,000. SageView Advisory Group LLC boosted its holdings in shares of CSX by 13.2% in the 4th quarter. SageView Advisory Group LLC now owns 7,374 shares of the transportation company’s stock valued at $264,000 after buying an additional 858 shares during the period. Finally, Willner & Heller LLC acquired a new position in shares of CSX in the 4th quarter valued at about $266,000. 73.57% of the stock is owned by institutional investors and hedge funds.

About CSX

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.