Equities research analysts expect CSX Co. (NASDAQ:CSX) to post $1.01 earnings per share for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for CSX’s earnings. The highest EPS estimate is $1.02 and the lowest is $0.98. CSX reported earnings of $1.05 per share in the same quarter last year, which would suggest a negative year over year growth rate of 3.8%. The business is expected to announce its next quarterly earnings report after the market closes on Wednesday, October 16th.
On average, analysts expect that CSX will report full-year earnings of $4.12 per share for the current financial year, with EPS estimates ranging from $4.05 to $4.20. For the next financial year, analysts expect that the business will report earnings of $4.46 per share, with EPS estimates ranging from $4.15 to $4.65. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of analysts that cover CSX.
CSX (NASDAQ:CSX) last posted its earnings results on Tuesday, July 16th. The transportation company reported $1.08 EPS for the quarter, missing the Zacks’ consensus estimate of $1.11 by ($0.03). CSX had a net margin of 27.87% and a return on equity of 26.96%. The business had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same quarter last year, the business earned $1.01 earnings per share. CSX’s revenue was down 1.4% on a year-over-year basis.
A number of research firms have recently commented on CSX. Credit Suisse Group dropped their target price on CSX from $92.00 to $86.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. JPMorgan Chase & Co. cut CSX from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $83.00 to $76.00 in a report on Friday, October 4th. They noted that the move was a valuation call. Stephens cut CSX from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $86.00 to $79.00 in a report on Wednesday, July 17th. Goldman Sachs Group began coverage on CSX in a report on Wednesday, July 10th. They issued a “neutral” rating and a $86.00 price objective on the stock. Finally, UBS Group lowered their price objective on CSX from $81.00 to $75.00 and set a “neutral” rating on the stock in a report on Tuesday, September 17th. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating and seven have assigned a buy rating to the stock. CSX has a consensus rating of “Hold” and an average target price of $77.82.
Institutional investors have recently modified their holdings of the company. Nuveen Asset Management LLC raised its position in CSX by 1,402.9% in the second quarter. Nuveen Asset Management LLC now owns 9,509,960 shares of the transportation company’s stock valued at $735,786,000 after purchasing an additional 8,877,188 shares during the period. Renaissance Technologies LLC increased its position in shares of CSX by 277.1% during the second quarter. Renaissance Technologies LLC now owns 3,036,900 shares of the transportation company’s stock worth $234,965,000 after acquiring an additional 2,231,500 shares during the period. BlackRock Inc. increased its position in shares of CSX by 2.4% during the second quarter. BlackRock Inc. now owns 48,210,842 shares of the transportation company’s stock worth $3,730,073,000 after acquiring an additional 1,127,117 shares during the period. Magellan Asset Management Ltd purchased a new stake in shares of CSX during the first quarter worth $73,749,000. Finally, EdgePoint Investment Group Inc. increased its position in shares of CSX by 6.8% during the second quarter. EdgePoint Investment Group Inc. now owns 10,698,067 shares of the transportation company’s stock worth $827,709,000 after acquiring an additional 685,637 shares during the period. Institutional investors and hedge funds own 75.71% of the company’s stock.
Shares of NASDAQ:CSX traded up $2.04 during trading on Friday, reaching $68.98. 177,740 shares of the company’s stock traded hands, compared to its average volume of 5,064,349. CSX has a fifty-two week low of $58.47 and a fifty-two week high of $80.73. The company has a quick ratio of 1.44, a current ratio of 1.55 and a debt-to-equity ratio of 1.26. The firm has a market cap of $52.56 billion, a PE ratio of 17.98, a P/E/G ratio of 1.23 and a beta of 1.24. The company has a 50-day simple moving average of $67.92 and a 200-day simple moving average of $73.21.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.39%. The ex-dividend date is Wednesday, November 27th. CSX’s dividend payout ratio is currently 25.00%.
CSX Company Profile
CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services, as well as transports intermodal containers and trailers. It transports chemicals, automotive, agricultural and food products, minerals, fertilizers, forest products, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.
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