Stock traders are buying a large number of CSX call options (NASDAQ:CSX)
On Friday, there was a distinctly higher level of options activity for CSX Company (NASDAQ: CSX) compared to what is typically seen. Investors bought a combined total of 11,229 call options to buy the underlying stock. This represents an increase of approximately 99% over the typical number of call options traded daily.
On October 20, the latest quarterly earnings report from CSX (NASDAQ: CSX) was made available to the general public. Earnings per share generated by the transportation company for the quarter were $0.52, $0.03 higher than the consensus estimate of $0.49 held by financial analysts. CSX’s return on equity was 29.07%, while the company’s net margin was 28.24%. In fact, the company generated $3.90 billion in revenue during the quarter, which is significantly higher than the $3.75 billion in revenue expected to be generated by the company during the period in question. The company’s earnings per share were $0.43 in the same period last year compared to the current year. Compared to the sum of the previous year, the current year has seen an increase in sales of 18.5% for the company. Most market analysts believe CSX will make $1.88 per share in earnings per year.
On Friday, a total of 477,014 shares of CSX were traded on NASDAQ, which was below the daily average of 17,043,816 shares and resulted in a rise of $0.22 to $27.30. The stock price also rose by $0.22, hitting $27.30. Over the past year, CSX has seen its all-time low of $25.80 and its all-time high of $38.63. The stock is currently trading at $30.22, below its 50- and 200-day moving averages, which currently sit at $31.35, respectively. The company has a beta of 1.23, a market capitalization of $58.56 billion, a price/earnings ratio of 15.21 and a price/earnings/growth ratio of 1.63. Currently, the debt ratio stands at 1.22, the quick ratio at 1.01 and the current ratio at 1.16.
There has been a change in the percentage of the company owned by various institutional investors. This change came as a result of the change. During the third quarter, Lake Street Financial LLC was able to amass an additional 39.9% of shares in CSX, bringing the total number of shares held in the company to a total of 1,412. Following the acquisition of 2,945 shares in the last quarter, Lake Street Financial LLC now owns 10,328 shares of the transportation company. This gives the company a combined value of $275,000, greater than its previous holdings. On top of that, the company recently purchased 10,328 shares of the company. During the third quarter, Investment Partners, Ltd. completed a transaction that acquired a new stake in CSX by spending approximately $284,000 on it. During the third quarter, Arkadios Wealth Advisors achieved a 6.5% increase in the proportion of CSX shares held by the company. Arcadius Wealth Advisors now owns 28,431 shares of the transportation company, which they acquired in the last quarter by buying an additional 1,739 shares. Based on the current share price, Arkadios Wealth Advisors holdings are worth around $757,000. During the third quarter, The Stonnington Group LLC achieved a 16.0% increase in percentage ownership of CSX shares. Stonnington Group LLC increased its stake in the transportation company’s stock by 2,000 shares in the last quarter. This brought the total number of shares held by the company to 14,535, with a total market value of $406,000. And finally, during the third quarter of this year, Naples Global Advisors LLC added an additional 5.7% of CSX shares to its holdings, bringing the total number of CSX shares it holds to a total of 1. Naples Global Advisors LLC now holds a total of 87,175 shares. shares of the transport company, which have a value of $2,322,000. This results from the acquisition of 4,665 additional shares during the previous quarter. Most of the company’s shares are held by institutional investors and hedge funds, which account for 73.60% of the total.
Additionally, the company recently announced that it will implement a quarterly dividend scheduled for December 15. On Wednesday, November 30, registered shareholders will be eligible to receive the dividend payment of $0.10, which will be distributed to such shareholders. November 29, which is a Tuesday, is the date that will mark the start of “ex-dividend” status for this dividend. This results in a return of 1.47% and a dividend payment of $0.40 per year, both of which are consequences of this situation. The dividend payout ratio for CSX currently stands at 22.47%.
In recent years, CSX has focused on research requests from various institutions. In a research note made available Tuesday, July 12, JPMorgan Chase & Co. lowered its price target for CSX from $39.00 to $33.00 and assigned the stock a “neutral” rating in a research note. . In a research report published on Wednesday, October 12, Raymond James lowered the price target he had set for CSX from $36.00 to $31.00. The previous price target was $36.00. Despite this change, they maintained their “outperforming” rating on the stock. In a report made public on July 21, Cowen said the price target the company had set for CSX had risen from $39.00 to $37.00. In a research report distributed on Friday, September 30, Barclays downgraded CSX from an “overweight” rating to a “neutral” rating, and they reduced their price target for the company from $40.00 to $35.00. $. In a report released Friday, July 15, Stifel Nicolaus lowered his price target on CSX stock from $39.00 to $37.00, lowering the company’s rating from “hold” to “buy.” They explained their choice, stating that it stemmed from their assessment of the situation. One equity research analyst suggested selling the stock, eleven other experts suggested holding it, and thirteen other analysts suggested buying it. According to Bloomberg, the overall recommendation for the company is “Hold” and the consensus price target for the stock is $34.42 per share.