Short Interest in CSX Co. (NASDAQ:CSX) Expands By 15.0%

CSX Co. (NASDAQ:CSX) saw a significant increase in short interest in the month of October. As of October 15th, there was short interest totalling 27,660,000 shares, an increase of 15.0% from the September 30th total of 24,050,000 shares. Based on an average trading volume of 11,280,000 shares, the days-to-cover ratio is presently 2.5 days.

Analyst Ratings Changes

Several research firms have recently issued reports on CSX. Bank of America cut CSX from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a research note on Monday, July 8th. Susquehanna decreased their price target on shares of CSX from $42.00 to $40.00 and set a “positive” rating on the stock in a research report on Thursday, October 17th. Loop Capital reduced their price target on shares of CSX from $43.00 to $42.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. Royal Bank of Canada lowered their price objective on shares of CSX from $36.00 to $35.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 17th. Finally, Barclays cut their target price on shares of CSX from $41.00 to $40.00 and set an “overweight” rating for the company in a research report on Wednesday, September 25th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $38.61.

CSX Trading Up 0.7 %

CSX stock traded up $0.22 during midday trading on Thursday, hitting $33.76. 1,768,774 shares of the company’s stock were exchanged, compared to its average volume of 11,594,867. CSX has a one year low of $29.28 and a one year high of $40.12. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.01 and a current ratio of 1.16. The company has a market cap of $66.00 billion, a PE ratio of 18.43, a price-to-earnings-growth ratio of 1.90 and a beta of 1.19. The stock’s fifty day moving average price is $34.01 and its 200-day moving average price is $33.81.

CSX (NASDAQ:CSX) last issued its quarterly earnings data 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). The business had revenue of $3.62 billion during the quarter, compared to analyst estimates of $3.68 billion. CSX had a net margin of 24.52% and a return on equity of 29.11%. CSX’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.42 earnings per share. Research analysts predict that CSX will post 1.93 earnings per share for the current fiscal year.

CSX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s dividend payout ratio is 26.37%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CSX. Interval Partners LP grew its holdings in CSX by 849.0% in the 2nd quarter. Interval Partners LP now owns 5,118,751 shares of the transportation company’s stock valued at $171,222,000 after buying an additional 4,579,344 shares in the last quarter. Manning & Napier Advisors LLC bought a new position in CSX in the second quarter valued at approximately $116,430,000. M&G Plc acquired a new position in CSX during the first quarter valued at approximately $126,089,000. Assenagon Asset Management S.A. lifted its stake in CSX by 318.5% during the third quarter. Assenagon Asset Management S.A. now owns 3,270,966 shares of the transportation company’s stock worth $112,946,000 after purchasing an additional 2,489,329 shares during the last quarter. Finally, Wulff Hansen & CO. raised its holdings in shares of CSX by 3,243.0% during the 2nd quarter. Wulff Hansen & CO. now owns 2,192,246 shares of the transportation company’s stock worth $73,331,000 after buying an additional 2,126,668 shares in the last quarter. 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.