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

CSX (NASDAQ:CSX) issued its quarterly earnings results on Wednesday. The transportation company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01, Briefing.com reports. CSX had a net margin of 25.35% and a return on equity of 30.52%. The company had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.66 billion. During the same period last year, the company posted $0.48 EPS. CSX’s revenue was down .8% on a year-over-year basis.

CSX Stock Performance

Shares of CSX stock opened at $34.16 on Thursday. The company has a 50 day moving average price of $36.98 and a 200-day moving average price of $34.32. The company has a quick ratio of 0.91, a current ratio of 1.05 and a debt-to-equity ratio of 1.48. The firm has a market capitalization of $66.87 billion, a PE ratio of 18.57, a P/E/G ratio of 2.01 and a beta of 1.18. CSX has a 52 week low of $29.03 and a 52 week high of $40.12.

CSX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were paid a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This is a positive change from CSX’s previous quarterly dividend of $0.11. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.41%. CSX’s payout ratio is currently 26.09%.

Institutional Trading of CSX

Large investors have recently added to or reduced their stakes in the business. West Tower Group LLC bought a new stake in CSX during the fourth quarter valued at approximately $26,000. Fortis Capital Advisors LLC bought a new stake in CSX during the fourth quarter valued at approximately $27,000. Cornerstone Planning Group LLC bought a new stake in CSX during the second quarter valued at approximately $41,000. True Wealth Design LLC bought a new stake in CSX during the fourth quarter valued at approximately $42,000. Finally, PCA Investment Advisory Services Inc. bought a new stake in CSX during the second quarter valued at approximately $77,000. 73.57% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CSX shares. Jefferies Financial Group started coverage on shares of CSX in a research report on Monday, April 8th. They set a “hold” rating and a $40.00 price target for the company. Bank of America lowered their price target on shares of CSX from $40.00 to $39.00 and set a “buy” rating for the company in a research report on Thursday. Royal Bank of Canada reissued a “sector perform” rating and set a $34.00 price target on shares of CSX in a research report on Thursday, January 25th. JPMorgan Chase & Co. decreased their target price on shares of CSX from $40.00 to $39.00 and set an “overweight” rating for the company in a report on Thursday, December 21st. Finally, Stifel Nicolaus lifted their target price on shares of CSX from $37.00 to $39.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $37.33.

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.