CSX Sees Unusually High Options Volume (NASDAQ:CSX)

CSX Co. (NASDAQ:CSX) was the target of some unusual options trading on Tuesday. Stock traders purchased 6,478 put options on the company. This is an increase of approximately 114% compared to the typical daily volume of 3,024 put options.

Wall Street Analyst Weigh In

CSX has been the topic of a number of recent analyst reports. Raymond James boosted their price target on CSX from $35.00 to $38.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 16th. Jefferies Financial Group initiated coverage on CSX in a research report on Monday, April 8th. They set a “hold” rating and a $40.00 price target on the stock. StockNews.com downgraded CSX from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. Royal Bank of Canada reissued a “sector perform” rating and set a $34.00 price target on shares of CSX in a research report on Thursday, January 25th. Finally, BMO Capital Markets boosted their price objective on CSX from $37.00 to $38.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $37.28.

CSX Price Performance

Shares of NASDAQ:CSX traded down $0.30 during trading on Tuesday, hitting $34.84. 12,791,337 shares of the company were exchanged, compared to its average volume of 11,752,812. The company has a market capitalization of $68.20 billion, a P/E ratio of 18.95, a price-to-earnings-growth ratio of 2.04 and a beta of 1.18. The company has a quick ratio of 0.91, a current ratio of 1.05 and a debt-to-equity ratio of 1.48. CSX has a 1-year low of $29.03 and a 1-year high of $40.12. The business’s 50 day moving average is $37.08 and its 200-day moving average is $34.29.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Tuesday, January 23rd. The transportation company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. CSX had a return on equity of 30.52% and a net margin of 25.35%. The company had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.63 billion. During the same period last year, the company earned $0.49 earnings per share. The firm’s revenue was down 1.3% compared to the same quarter last year. Equities analysts forecast that CSX will post 1.97 earnings per share for the current year.

CSX Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were paid a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This is a positive change from CSX’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a yield of 1.38%. CSX’s payout ratio is 26.09%.

Institutional Trading of CSX

Several large investors have recently modified their holdings of the stock. Bornite Capital Management LP purchased a new stake in shares of CSX in the first quarter worth approximately $14,980,000. Mirae Asset Global Investments Co. Ltd. raised its position in CSX by 6.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,158,544 shares of the transportation company’s stock valued at $230,637,000 after buying an additional 347,514 shares during the last quarter. Blair William & Co. IL lifted its stake in CSX by 12.7% during the 1st quarter. Blair William & Co. IL now owns 122,334 shares of the transportation company’s stock valued at $4,581,000 after acquiring an additional 13,829 shares in the last quarter. Sei Investments Co. lifted its stake in CSX by 4.5% during the 1st quarter. Sei Investments Co. now owns 195,872 shares of the transportation company’s stock valued at $7,361,000 after acquiring an additional 8,488 shares in the last quarter. Finally, Cetera Investment Advisers boosted its holdings in CSX by 16.8% during the 1st quarter. Cetera Investment Advisers now owns 71,521 shares of the transportation company’s stock worth $2,678,000 after acquiring an additional 10,276 shares during the last quarter. Institutional investors and hedge funds 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.