Analysts forecast that CSX Co. (NASDAQ:CSX) will post sales of $2.83 billion for the current quarter, according to Zacks. Six analysts have issued estimates for CSX’s earnings, with the lowest sales estimate coming in at $2.79 billion and the highest estimate coming in at $2.90 billion. CSX posted sales of $2.87 billion in the same quarter last year, which suggests a negative year-over-year growth rate of 1.4%. The company is scheduled to report its next quarterly earnings results on Wednesday, April 18th.
On average, analysts expect that CSX will report full-year sales of $2.83 billion for the current year, with estimates ranging from $11.46 billion to $11.73 billion. For the next fiscal year, analysts expect that the business will post sales of $11.99 billion per share, with estimates ranging from $11.70 billion to $12.18 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for CSX.
CSX (NASDAQ:CSX) last released its earnings results on Tuesday, January 16th. The transportation company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.08. CSX had a return on equity of 17.16% and a net margin of 47.96%. The business had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same period last year, the business earned $0.49 earnings per share. The firm’s revenue for the quarter was down 5.7% compared to the same quarter last year.
A number of equities research analysts recently weighed in on the company. BidaskClub raised CSX from a “sell” rating to a “hold” rating in a research report on Tuesday, March 6th. Deutsche Bank set a $70.00 target price on CSX and gave the stock a “buy” rating in a research report on Sunday, March 4th. Cowen reissued an “outperform” rating and set a $62.00 target price (up from $61.00) on shares of CSX in a research report on Friday, March 2nd. Scotiabank set a $63.00 price objective on CSX and gave the company a “hold” rating in a report on Friday, March 2nd. Finally, Morgan Stanley decreased their price objective on CSX from $51.00 to $47.00 and set an “underweight” rating on the stock in a report on Friday, March 2nd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and seventeen have issued a buy rating to the company. CSX presently has an average rating of “Buy” and an average target price of $60.87.
Several large investors have recently bought and sold shares of CSX. Nationwide Fund Advisors raised its stake in shares of CSX by 2.3% in the third quarter. Nationwide Fund Advisors now owns 376,906 shares of the transportation company’s stock valued at $20,451,000 after acquiring an additional 8,365 shares during the last quarter. Russell Investments Group Ltd. raised its position in CSX by 10.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,518,838 shares of the transportation company’s stock worth $82,401,000 after purchasing an additional 149,208 shares during the last quarter. SG Americas Securities LLC bought a new position in CSX in the 3rd quarter worth approximately $4,456,000. Pacer Advisors Inc. raised its position in CSX by 13.1% in the 3rd quarter. Pacer Advisors Inc. now owns 36,018 shares of the transportation company’s stock worth $1,954,000 after purchasing an additional 4,177 shares during the last quarter. Finally, Assetmark Inc. raised its position in CSX by 428.3% in the 3rd quarter. Assetmark Inc. now owns 13,535 shares of the transportation company’s stock worth $735,000 after purchasing an additional 10,973 shares during the last quarter. Institutional investors own 75.57% of the company’s stock.
CSX stock traded up $0.28 during mid-day trading on Thursday, reaching $56.97. The company had a trading volume of 3,554,834 shares, compared to its average volume of 7,145,750. CSX has a fifty-two week low of $45.41 and a fifty-two week high of $60.04. The firm has a market capitalization of $50,501.48, a P/E ratio of 9.39, a PEG ratio of 1.38 and a beta of 1.27. The company has a current ratio of 1.01, a quick ratio of 0.81 and a debt-to-equity ratio of 0.80.
CSX declared that its board has initiated a share repurchase plan on Monday, February 12th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the transportation company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
The company also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st were paid a $0.22 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.54%. This is a boost from CSX’s previous quarterly dividend of $0.20. CSX’s payout ratio is 14.50%.
CSX Corporation is a transportation company. The Company provides rail-based freight transportation services, including traditional rail service and transport of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations.
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