CSX Co. (CSX) Expected to Post Quarterly Sales of $2.83 Billion

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%.

WARNING: “CSX Co. (CSX) Expected to Post Quarterly Sales of $2.83 Billion” was first published by Stock Observer and is the property of of Stock Observer. If you are reading this article on another domain, it was illegally stolen and reposted in violation of US and international trademark & copyright legislation. The legal version of this article can be read at https://www.thestockobserver.com/2018/03/20/csx-co-csx-expected-to-post-quarterly-sales-of-2-83-billion.html.

About CSX

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.

Get a free copy of the Zacks research report on CSX (CSX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for CSX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CSX and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply