Short Interest in CSX Co. (NASDAQ:CSX) Increases By 16.6%

CSX Co. (NASDAQ:CSX) was the target of a large growth in short interest in August. As of August 31st, there was short interest totalling 18,010,000 shares, a growth of 16.6% from the August 15th total of 15,450,000 shares. Based on an average trading volume of 12,860,000 shares, the days-to-cover ratio is currently 1.4 days.

CSX Price Performance

Shares of CSX stock traded down $0.51 during trading hours on Tuesday, hitting $30.59. 5,363,049 shares of the company’s stock were exchanged, compared to its average volume of 13,113,019. CSX has a fifty-two week low of $25.80 and a fifty-two week high of $34.38. The firm has a market cap of $61.37 billion, a P/E ratio of 15.43, a P/E/G ratio of 2.66 and a beta of 1.22. The company has a quick ratio of 1.21, a current ratio of 1.42 and a debt-to-equity ratio of 1.46. The firm has a 50 day moving average of $31.65 and a two-hundred day moving average of $31.37.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Thursday, July 20th. The transportation company reported $0.49 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.49. The business had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.73 billion. CSX had a net margin of 27.36% and a return on equity of 32.82%. The company’s revenue was down 3.1% compared to the same quarter last year. During the same period last year, the firm posted $0.50 earnings per share. Sell-side analysts forecast that CSX will post 1.9 EPS for the current year.

CSX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, August 31st were paid a dividend of $0.11 per share. The ex-dividend date was Wednesday, August 30th. This represents a $0.44 annualized dividend and a yield of 1.44%. CSX’s dividend payout ratio (DPR) is currently 22.22%.

Hedge Funds Weigh In On CSX

Hedge funds have recently made changes to their positions in the company. ICA Group Wealth Management LLC lifted its stake in CSX by 7.2% in the 1st quarter. ICA Group Wealth Management LLC now owns 5,306 shares of the transportation company’s stock worth $159,000 after purchasing an additional 356 shares in the last quarter. Maltin Wealth Management Inc. acquired a new position in CSX during the second quarter worth $588,000. Czech National Bank grew its holdings in CSX by 0.6% in the 1st quarter. Czech National Bank now owns 247,675 shares of the transportation company’s stock valued at $7,415,000 after buying an additional 1,586 shares in the last quarter. TrueWealth Advisors LLC acquired a new stake in shares of CSX in the 1st quarter worth $289,000. Finally, Point72 Asset Management L.P. raised its holdings in shares of CSX by 3.9% during the 4th quarter. Point72 Asset Management L.P. now owns 4,994,715 shares of the transportation company’s stock worth $154,736,000 after acquiring an additional 186,588 shares during the period. Institutional investors and hedge funds own 72.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Stephens restated an “overweight” rating and set a $39.00 price target on shares of CSX in a research note on Friday, July 21st. Morgan Stanley restated an “equal weight” rating and set a $25.00 price target on shares of CSX in a research note on Friday, July 21st. StockNews.com initiated coverage on shares of CSX in a research note on Thursday, August 17th. They set a “hold” rating for the company. BMO Capital Markets reissued an “outperform” rating and set a $37.00 price objective on shares of CSX in a report on Friday, July 21st. Finally, Citigroup reduced their target price on CSX from $39.00 to $38.00 and set a “buy” rating for the company in a research note on Friday, July 21st. Nine investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $35.43.

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 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.