CSX Co. (CSX) to Distribute Quarterly Dividend of $0.12 on June 14th

CSX Co. (NASDAQ:CSX) declared a quarterly dividend on Wednesday, May 8th, RTT News reports. Shareholders of record on Friday, May 31st will be paid a dividend of 0.12 per share by the transportation company on Friday, June 14th. This represents a $0.48 annualized dividend and a yield of 1.39%.

CSX has raised its dividend payment by an average of 8.3% annually over the last three years and has raised its dividend annually for the last 20 consecutive years. CSX has a dividend payout ratio of 22.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect CSX to earn $2.17 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 22.1%.

CSX Stock Up 0.8 %

Shares of NASDAQ:CSX opened at $34.50 on Friday. The business’s 50 day simple moving average is $35.99 and its two-hundred day simple moving average is $34.63. The firm has a market cap of $67.44 billion, a P/E ratio of 18.96, a PEG ratio of 2.03 and a beta of 1.19. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.00 and a current ratio of 1.15. CSX has a 52-week low of $29.03 and a 52-week high of $40.12.

CSX (NASDAQ:CSX) last posted its earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. CSX had a return on equity of 29.58% and a net margin of 24.75%. The company had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.66 billion. During the same quarter last year, the company earned $0.48 earnings per share. The company’s revenue for the quarter was down .8% on a year-over-year basis. As a group, research analysts forecast that CSX will post 1.95 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CSX. Susquehanna raised their target price on CSX from $42.00 to $44.00 and gave the company a “positive” rating in a report on Thursday, March 28th. Royal Bank of Canada dropped their target price on CSX from $37.00 to $36.00 and set a “sector perform” rating on the stock in a report on Thursday, April 18th. StockNews.com lowered CSX from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Bank of America dropped their price target on CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Finally, UBS Group dropped their price target on CSX from $46.00 to $44.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $38.00.

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.