CSX Sees Unusually Large Options Volume (NASDAQ:CSX)

CSX Co. (NASDAQ:CSX) was the target of some unusual options trading activity on Friday. Traders purchased 5,873 call options on the stock. This is an increase of approximately 62% compared to the typical volume of 3,617 call options.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CSX shares. UBS Group cut their target price on CSX from $46.00 to $44.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Jefferies Financial Group reduced their target price on shares of CSX from $40.00 to $38.00 and set a “hold” rating for the company in a research note on Thursday, April 18th. Royal Bank of Canada dropped their price target on shares of CSX from $37.00 to $36.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 18th. Susquehanna reduced their price objective on shares of CSX from $44.00 to $40.00 and set a “positive” rating for the company in a research report on Tuesday. Finally, Stifel Nicolaus lifted their target price on shares of CSX from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.59.

CSX Stock Performance

CSX stock traded up $0.32 during midday trading on Friday, reaching $33.35. The stock had a trading volume of 2,891,402 shares, compared to its average volume of 11,886,425. The company has a quick ratio of 1.00, a current ratio of 1.15 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $65.20 billion, a PE ratio of 18.15, a P/E/G ratio of 1.71 and a beta of 1.19. CSX has a 12 month low of $29.03 and a 12 month high of $40.12. The firm’s 50-day moving average price is $33.51 and its 200 day moving average price is $35.12.

CSX (NASDAQ:CSX) last announced its quarterly earnings results on Wednesday, April 17th. The transportation company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. CSX had a net margin of 24.75% and a return on equity of 29.58%. The company had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.66 billion. During the same period in the prior year, the company posted $0.48 EPS. CSX’s revenue was down .8% compared to the same quarter last year. As a group, research analysts predict that CSX will post 1.96 earnings per share for the current fiscal year.

CSX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend was Friday, May 31st. CSX’s dividend payout ratio (DPR) is presently 26.37%.

Institutional Trading of CSX

A number of institutional investors have recently added to or reduced their stakes in CSX. Fortitude Family Office LLC purchased a new position in shares of CSX during the 4th quarter valued at $27,000. Life Planning Partners Inc purchased a new position in CSX during the fourth quarter worth about $27,000. Financial Synergies Wealth Advisors Inc. bought a new position in CSX in the 1st quarter worth about $29,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of CSX in the 4th quarter valued at about $34,000. Finally, Burkett Financial Services LLC bought a new stake in shares of CSX during the 4th quarter valued at about $34,000. Hedge funds and other 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.