CSX (NASDAQ:CSX) Releases Earnings Results, Beats Estimates By $0.01 EPS

CSX (NASDAQ:CSX) released 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. The firm had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.66 billion. CSX had a return on equity of 29.88% and a net margin of 24.75%. The company’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.48 earnings per share.

CSX Stock Performance

Shares of CSX opened at $34.39 on Friday. CSX has a 12 month low of $29.03 and a 12 month high of $40.12. The stock has a fifty day moving average price of $36.93 and a 200-day moving average price of $34.32. The company has a current ratio of 1.05, a quick ratio of 0.91 and a debt-to-equity ratio of 1.48. The firm has a market cap of $67.32 billion, a PE ratio of 18.90, a P/E/G ratio of 1.97 and a beta of 1.18.

CSX Increases Dividend

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

Wall Street Analyst Weigh In

A number of research firms have recently commented on CSX. JPMorgan Chase & Co. cut their target price on CSX from $40.00 to $39.00 and set an “overweight” rating on the stock in a research note on Thursday, December 21st. Jefferies Financial Group dropped their price objective on CSX from $40.00 to $38.00 and set a “hold” rating on the stock in a research note on Thursday. Royal Bank of Canada dropped their price objective on CSX from $37.00 to $36.00 and set a “sector perform” rating on the stock in a research note on Thursday. UBS Group dropped their price objective on CSX from $46.00 to $44.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Raymond James increased their price objective on CSX from $35.00 to $38.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 16th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $37.72.

Institutional Trading of CSX

Several hedge funds and other institutional investors have recently made changes to their positions in CSX. West Tower Group LLC purchased a new stake in shares of CSX during the 4th quarter valued at $26,000. Fortis Capital Advisors LLC purchased a new stake in shares of CSX during the 4th quarter valued at $27,000. Cornerstone Planning Group LLC purchased a new stake in shares of CSX during the 2nd quarter valued at $41,000. True Wealth Design LLC purchased a new stake in shares of CSX during the 4th quarter valued at $42,000. Finally, Milestone Investment Advisors LLC purchased a new stake in shares of CSX during the 1st quarter valued at $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.