CSX (NASDAQ:CSX) Announces Quarterly Earnings Results, Beats Expectations By $0.01 EPS

CSX (NASDAQ:CSX) posted its earnings results on Wednesday. The transportation company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01, Briefing.com reports. CSX had a net margin of 24.75% and a return on equity of 29.88%. The company had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.66 billion. During the same quarter in the prior year, the company posted $0.48 earnings per share. CSX’s revenue for the quarter was down .8% compared to the same quarter last year.

CSX Stock Performance

NASDAQ:CSX opened at $34.39 on Friday. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.05 and a quick ratio of 0.91. The firm has a market cap of $67.32 billion, a price-to-earnings ratio of 18.90, a price-to-earnings-growth ratio of 1.97 and a beta of 1.18. The firm’s fifty day moving average price is $36.93 and its 200 day moving average price is $34.32. CSX has a 1-year low of $29.03 and a 1-year high of $40.12.

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.40%. This is a boost from CSX’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Wednesday, February 28th. CSX’s dividend payout ratio is presently 26.37%.

Institutional Investors Weigh In On CSX

Institutional investors have recently added to or reduced their stakes in the business. West Tower Group LLC acquired a new stake in shares of CSX in the 4th quarter valued at approximately $26,000. Fortis Capital Advisors LLC purchased a new position in CSX in the 4th quarter valued at approximately $27,000. Cornerstone Planning Group LLC acquired a new stake in CSX in the second quarter valued at $41,000. True Wealth Design LLC acquired a new position in shares of CSX during the 4th quarter worth $42,000. Finally, Milestone Investment Advisors LLC purchased a new stake in shares of CSX in the first quarter valued at about $71,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Royal Bank of Canada decreased their price objective on shares of CSX from $37.00 to $36.00 and set a “sector perform” rating on the stock in a report on Thursday. Jefferies Financial Group lowered their price target on CSX from $40.00 to $38.00 and set a “hold” rating for the company in a research report on Thursday. BMO Capital Markets boosted their price objective on CSX from $37.00 to $38.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. StockNews.com cut CSX from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Finally, Susquehanna boosted their price target on shares of CSX from $42.00 to $44.00 and gave the stock a “positive” rating in a research note on Thursday, March 28th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, CSX presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.72.

CSX Company Profile

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.