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 March. As of March 31st, there was short interest totalling 25,090,000 shares, a growth of 7.3% from the March 15th total of 23,390,000 shares. Based on an average trading volume of 11,700,000 shares, the days-to-cover ratio is presently 2.1 days.

CSX Price Performance

CSX stock traded down $0.53 during mid-day trading on Wednesday, reaching $34.31. 4,582,834 shares of the company traded hands, compared to its average volume of 11,652,502. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.05 and a quick ratio of 0.91. The company has a market capitalization of $67.16 billion, a P/E ratio of 18.93, a P/E/G ratio of 2.03 and a beta of 1.18. CSX has a 52-week low of $29.03 and a 52-week high of $40.12. The company has a fifty day moving average price of $37.04 and a 200-day moving average price of $34.32.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Tuesday, January 23rd. The transportation company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. The firm had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.63 billion. CSX had a return on equity of 30.52% and a net margin of 25.35%. The company’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter last year, the company posted $0.49 EPS. As a group, analysts anticipate that CSX will post 1.97 earnings per share for the current year.

CSX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were given a $0.12 dividend. This is an increase from CSX’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.48 dividend on an annualized basis and a yield of 1.40%. CSX’s payout ratio is presently 26.09%.

Analysts Set New Price Targets

A number of analysts have weighed in on CSX shares. Benchmark increased their target price on shares of CSX from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Raymond James increased their target price on shares of CSX from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Tuesday, January 16th. Jefferies Financial Group assumed coverage on shares of CSX in a research report on Monday, April 8th. They set a “hold” rating and a $40.00 price objective for the company. JPMorgan Chase & Co. reduced their price objective on shares of CSX from $40.00 to $39.00 and set an “overweight” rating for the company in a research report on Thursday, December 21st. Finally, TD Cowen raised their price objective on shares of CSX from $32.00 to $36.00 and gave the stock a “market perform” rating in a research report on Thursday, January 25th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $37.28.

Institutional Trading of CSX

Hedge funds have recently bought and sold shares of the company. Value Partners Investments Inc. bought a new stake in CSX in the third quarter valued at approximately $1,172,000. Morgan Stanley lifted its position in CSX by 3.1% in the third quarter. Morgan Stanley now owns 24,340,514 shares of the transportation company’s stock valued at $748,471,000 after purchasing an additional 739,411 shares during the last quarter. International Assets Investment Management LLC lifted its position in CSX by 3,241.9% in the fourth quarter. International Assets Investment Management LLC now owns 235,304 shares of the transportation company’s stock valued at $8,158,000 after purchasing an additional 228,263 shares during the last quarter. Sapient Capital LLC bought a new stake in CSX in the fourth quarter valued at approximately $1,279,000. Finally, EP Wealth Advisors LLC lifted its position in CSX by 414.8% in the third quarter. EP Wealth Advisors LLC now owns 51,534 shares of the transportation company’s stock valued at $1,585,000 after purchasing an additional 41,524 shares during the last quarter. Institutional investors own 73.57% of the company’s stock.

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.