Market Update: CSX Corp (NYSE:CSX) – CSX Corporation Declares Quarterly Dividend

[GlobeNewswire] – JACKSONVILLE, Fla., May 13, 2016– On Wednesday, the Board of Directors of CSX Corporation approved an $0.18 per share quarterly dividend on the company’s common stock. The dividend is payable on June … Read more on this. CSX Corp. (CSX) , valued at $24.23B, began trading this morning at $25.35. Looking at today’s trading action, the company’s one day range from $25.26 to $25.63 and has traded between $21.33 and $36.04 over the past year. CSX shares are currently priced at 14.35x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 14.37x earnings multiple. And for those looking to make a return holding the stock, the company pays shareholders $0.72 per share annually in dividends, yielding 2.78%. Consensus earnings for the current quarter by the 25 sell-side analysts covering the stock is an estimate of $0.46 per share, which would be $0.10 worse than the year-ago quarter and a $0.04 sequential decrease. The full-year EPS estimate is $1.78, which would be a $0.22 better than last year. The quarterly earnings estimate is predicated on a consensus revenue forecast of $2.75 Billion. If reported, that would be a 10.13% decrease over the year-ago quarter. Recently, Morgan Stanley downgraded CSX from Overweight to Underweight (Feb 23, 2016). Previously, BofA/Merrill upgraded CSX from Neutral to Buy. The average price target for CSX shares by the analysts covering it is $27.74, which is 9.43% above where the stock opened. See more in (NYSE:CSX) Similar Articles: Market Update: CSX Corp (NYSE:CSX) – CSX Named in Top 50 Best Corporate Citizens Market Update (NYSE:NSC): Norfolk Southern declares quarterly dividend Market Update: Crown Castle International Corp (NYSE:CCI) – Crown Castle Declares Quarterly Preferred Stock Dividend
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