CSX Corporation (CSX:NSD) experienced a significant decrease in short interest in March. The total short interest as of March 15th was 18,880,000 shares, down 12.7% from the February 28th total of 21,630,000 shares. The short-interest ratio is currently 1.4 days based on an average daily volume of 13,540,000 CSX stock shares.
Hedge Funds & Institutional Holdings:
Institutional investors have been active in buying and selling CSX stock shares. WFA of San Diego LLC, Fortis Capital Advisors LLC, Migdal Insurance & Financial Holdings Ltd., Capital Advisors Ltd. LLC, and Webster Bank N. A. all acquired shares of the transportation company’s stock.
CSX Stock Price Analysis:
CSX’s stock traded at $29.94 on Friday, with 11,340,481 shares exchanged. The company has a market capitalization of $61.41 billion and a price-to-earnings ratio of 15.43.
Its 50-day and 200-day simple moving averages are $30.43 and $30.29, respectively. CSX has a 1-year low of $25.80 and a 1-year high of $38.17.
CSX stock currently has a consensus rating of “Buy” and an average price target of $33.25.
Quarterly Earnings Review:
In January, CSX reported earnings per share of $0.49, beating the consensus estimate of $0.47. The company’s revenue for the quarter was $3.73 billion, up 8.7% from the same period in the prior year. Sell-side analysts predict that CSX will post earnings per share of 1.86 for the current year.
CSX Stock Dividend:
CSX recently declared a quarterly dividend, with investors receiving a $0.11 dividend on March 15th. The ex-dividend date of this dividend was February 27th. This represents a positive change from CSX’s previous quarterly dividend of $0.10.
CSX Stock-Analyst Ratings:
Several analysts have issued reports on CSX. Credit Suisse Group cut their target price from $38.00 to $37.00 and set an “outperform” rating on the stock.
Raymond James raised their target price to $36.00 and gave the stock an “outperform” rating.
Cowen lifted their price target on shares of CSX stock from $33.00 to $35.00 and gave the company a “market perform” rating.
Benchmark cut their price target from $36.00 to $35.00 and set a “buy” rating on the stock.
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 serves production and distribution facilities through track connections. CSX Corporation was incorporated in 1978 and is headquartered in Jacksonville, Florida.