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

CSX (NASDAQ:CSX) released its quarterly earnings data on Wednesday. The transportation company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.01, Briefing.com reports. The firm had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.66 billion. CSX had a net margin of 24.75% and a return on equity of 29.88%. The firm’s revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.48 earnings per share.

CSX Stock Performance

Shares of CSX opened at $34.39 on Friday. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.91 and a current ratio of 1.05. The company has a market capitalization of $67.32 billion, a price-to-earnings ratio of 18.90, a PEG ratio of 1.97 and a beta of 1.18. The company’s 50 day simple moving average is $36.93 and its 200 day simple moving average is $34.32. CSX has a 1 year low of $29.03 and a 1 year high of $40.12.

CSX Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were paid a dividend of $0.12 per share. This is an increase from CSX’s previous quarterly dividend of $0.11. The ex-dividend date was Wednesday, February 28th. This represents a $0.48 annualized dividend and a dividend yield of 1.40%. CSX’s dividend payout ratio is presently 26.37%.

Analyst Ratings Changes

A number of analysts recently commented on CSX shares. BMO Capital Markets boosted their price objective on shares of CSX from $37.00 to $38.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. StockNews.com downgraded shares of CSX from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Susquehanna upped their price target on shares of CSX from $42.00 to $44.00 and gave the company a “positive” rating in a report on Thursday, March 28th. UBS Group reduced their price target on shares of CSX from $46.00 to $44.00 and set a “buy” rating on the stock in a report on Thursday. Finally, TD Cowen upped their price target on shares of CSX from $32.00 to $36.00 and gave the company a “market perform” rating in a report on Thursday, January 25th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $37.72.

Hedge Funds Weigh In On CSX

Several institutional investors and hedge funds have recently modified their holdings of the company. West Tower Group LLC acquired a new position in CSX during the fourth quarter worth approximately $26,000. Fortis Capital Advisors LLC acquired a new position in CSX during the fourth quarter worth approximately $27,000. Cornerstone Planning Group LLC acquired a new position in CSX during the second quarter worth approximately $41,000. True Wealth Design LLC acquired a new position in CSX during the fourth quarter worth approximately $42,000. Finally, Milestone Investment Advisors LLC acquired a new position in CSX during the first quarter worth approximately $71,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

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 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.