CSX Co. (NASDAQ:CSX) Short Interest Up 19.6% in September

by · The Cerbat Gem

CSX Co. (NASDAQ:CSX – Get Free Report) was the recipient of a significant growth in short interest during the month of September. As of September 30th, there was short interest totalling 24,050,000 shares, a growth of 19.6% from the September 15th total of 20,110,000 shares. Based on an average daily trading volume, of 10,740,000 shares, the days-to-cover ratio is presently 2.2 days.

CSX Trading Up 0.9 %

CSX traded up $0.33 during mid-day trading on Monday, hitting $35.29. The stock had a trading volume of 11,824,964 shares, compared to its average volume of 11,463,404. The stock’s fifty day simple moving average is $33.93 and its 200-day simple moving average is $34.01. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.16 and a quick ratio of 1.01. The firm has a market capitalization of $68.99 billion, a price-to-earnings ratio of 19.39, a price-to-earnings-growth ratio of 1.90 and a beta of 1.19. CSX has a 1-year low of $29.03 and a 1-year high of $40.12.

CSX (NASDAQ:CSX – Get Free Report) last posted its earnings results on Monday, August 5th. The transportation company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.01. The company had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.70 billion. CSX had a net margin of 24.52% and a return on equity of 29.11%. The business’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period last year, the business posted $0.49 earnings per share. As a group, research analysts forecast that CSX will post 1.93 EPS for the current fiscal year.

CSX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.48 annualized dividend and a yield of 1.36%. CSX’s dividend payout ratio (DPR) is presently 26.37%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Benchmark reaffirmed a “buy” rating and set a $40.00 price objective on shares of CSX in a research note on Wednesday, August 7th. Barclays decreased their price objective on shares of CSX from $41.00 to $40.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 25th. Evercore ISI raised shares of CSX to a “strong-buy” rating in a research note on Tuesday, August 6th. Stephens reaffirmed an “overweight” rating and set a $42.00 price objective on shares of CSX in a research note on Tuesday, August 6th. Finally, Sanford C. Bernstein increased their price target on shares of CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a research note on Monday, July 8th. Seven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $39.19.

View Our Latest Stock Analysis on CSX

Institutional Investors Weigh In On CSX

Several hedge funds have recently bought and sold shares of the company. Creative Planning increased its position in shares of CSX by 2.2% during the third quarter. Creative Planning now owns 634,696 shares of the transportation company’s stock worth $21,916,000 after acquiring an additional 13,613 shares in the last quarter. Procyon Advisors LLC increased its position in shares of CSX by 1.6% during the third quarter. Procyon Advisors LLC now owns 100,174 shares of the transportation company’s stock worth $3,459,000 after acquiring an additional 1,566 shares in the last quarter. Svenska Handelsbanken AB publ bought a new stake in shares of CSX during the third quarter worth $31,018,000. Webster Bank N. A. increased its position in shares of CSX by 356.7% during the third quarter. Webster Bank N. A. now owns 6,850 shares of the transportation company’s stock worth $237,000 after acquiring an additional 5,350 shares in the last quarter. Finally, Willner & Heller LLC increased its position in shares of CSX by 8.1% during the third quarter. Willner & Heller LLC now owns 8,339 shares of the transportation company’s stock worth $288,000 after acquiring an additional 627 shares in the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Company Profile

(Get Free Report)

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.

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