CSX (NASDAQ:CSX) Issues Quarterly Earnings Results

CSX (NASDAQ:CSX) issued its quarterly earnings results on Tuesday. The transportation company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.37 by $0.02, Fidelity Earnings reports. CSX had a net margin of 25.62% and a return on equity of 21.42%. The firm had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same period in the previous year, the firm posted $0.22 EPS. The company’s revenue for the quarter was up 32.6% on a year-over-year basis.

Shares of NASDAQ:CSX traded up $1.21 on Thursday, reaching $32.78. 718,990 shares of the company’s stock were exchanged, compared to its average volume of 12,206,381. The company’s fifty day moving average price is $33.69. CSX has a twelve month low of $22.69 and a twelve month high of $34.96. The firm has a market cap of $74.48 billion, a P/E ratio of 27.82, a price-to-earnings-growth ratio of 1.98 and a beta of 1.16. The company has a quick ratio of 2.23, a current ratio of 2.39 and a debt-to-equity ratio of 1.24.

The firm also recently announced a dividend, which was paid on Monday, June 28th. Shareholders of record on Wednesday, June 30th were given a dividend of $0.0933 per share. The ex-dividend date of this dividend was Tuesday, June 29th. This represents a dividend yield of 1.16%. CSX’s payout ratio is presently 30.33%.

In related news, Director Paul C. Hilal sold 1,411,705 shares of the stock in a transaction that occurred on Wednesday, April 28th. The shares were sold at an average price of $100.93, for a total transaction of $142,483,385.65. Following the sale, the director now owns 12,399 shares in the company, valued at approximately $1,251,431.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David M. Moffett sold 5,819 shares of the stock in a transaction that occurred on Monday, May 3rd. The stock was sold at an average price of $101.93, for a total transaction of $593,130.67. The disclosure for this sale can be found here. Insiders have sold a total of 1,996,015 shares of company stock worth $201,411,409 in the last quarter. 0.60% of the stock is currently owned by company insiders.

Several equities research analysts have commented on CSX shares. Vertical Research began coverage on shares of CSX in a research report on Friday, March 26th. They set a “hold” rating on the stock. Credit Suisse Group upped their target price on shares of CSX from $38.00 to $39.00 and gave the company an “outperform” rating in a report on Thursday. Susquehanna upped their target price on shares of CSX from $37.00 to $38.00 and gave the company a “positive” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft upped their target price on shares of CSX from $37.67 to $38.33 and gave the company a “buy” rating in a report on Tuesday, June 15th. Finally, upgraded shares of CSX from a “neutral” rating to a “buy” rating in a research note on Tuesday, June 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nineteen have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $34.25.

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 transports chemicals, agricultural and food products, automotive, minerals, 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.

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Earnings History for CSX (NASDAQ:CSX)

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