CSX Co. (NASDAQ:CSX) Short Interest Up 10.0% in July

CSX Co. (NASDAQ:CSX) was the target of a large growth in short interest during the month of July. As of July 31st, there was short interest totalling 11,137,000 shares, a growth of 10.0% from the June 30th total of 10,124,400 shares. Based on an average daily trading volume, of 5,080,000 shares, the short-interest ratio is currently 2.2 days. Currently, 1.4% of the shares of the company are sold short.

Several equities analysts recently weighed in on CSX shares. BMO Capital Markets lifted their price target on CSX from $76.00 to $78.00 and gave the company a “market perform” rating in a research note on Wednesday, April 17th. They noted that the move was a valuation call. Cascend Securities lowered CSX from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Goldman Sachs Group started coverage on CSX in a research note on Wednesday, July 10th. They issued a “neutral” rating and a $86.00 price target for the company. Morgan Stanley lifted their price target on CSX from $55.00 to $57.00 and gave the company an “underweight” rating in a research note on Wednesday, April 17th. Finally, BidaskClub lowered CSX from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 27th. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have assigned a buy rating to the stock. CSX currently has an average rating of “Hold” and an average target price of $78.13.

In related news, EVP Nathan D. Goldman sold 7,000 shares of CSX stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $79.50, for a total value of $556,500.00. Following the completion of the transaction, the executive vice president now owns 79,697 shares in the company, valued at approximately $6,335,911.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 4.83% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Krane Funds Advisors LLC acquired a new position in shares of CSX during the 2nd quarter worth approximately $25,000. SRS Capital Advisors Inc. acquired a new position in CSX in the second quarter valued at approximately $32,000. IMA Wealth Inc. acquired a new position in CSX in the first quarter valued at approximately $35,000. Kavar Capital Partners LLC acquired a new position in CSX in the second quarter valued at approximately $35,000. Finally, Destination Wealth Management acquired a new position in CSX in the first quarter valued at approximately $36,000. Institutional investors and hedge funds own 76.74% of the company’s stock.

CSX stock traded down $0.17 during trading on Thursday, hitting $64.41. The stock had a trading volume of 2,759,462 shares, compared to its average volume of 4,898,141. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.55 and a quick ratio of 1.44. CSX has a twelve month low of $58.47 and a twelve month high of $80.73. The stock has a market capitalization of $52.54 billion, a P/E ratio of 16.77, a PEG ratio of 1.14 and a beta of 1.21. The company’s 50-day moving average price is $72.12 and its two-hundred day moving average price is $74.31.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Tuesday, July 16th. The transportation company reported $1.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.11 by ($0.03). CSX had a return on equity of 26.96% and a net margin of 27.87%. The firm had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.14 billion. During the same quarter in the previous year, the firm posted $1.01 earnings per share. The company’s quarterly revenue was down 1.4% on a year-over-year basis. As a group, sell-side analysts expect that CSX will post 4.15 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend is Thursday, August 29th. CSX’s dividend payout ratio is currently 25.00%.

CSX Company Profile

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services, as well as transports intermodal containers and trailers. It transports chemicals, automotive, agricultural and food products, minerals, fertilizers, forest products, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.

See Also: Limitations of the P/E Growth ratio

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