CSX (NASDAQ:CSX – Get Free Report) announced its quarterly earnings results on Wednesday. The transportation company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.02, FiscalAI reports. CSX had a net margin of 21.55% and a return on equity of 24.47%. The company had revenue of $3.94 billion for the quarter, compared to analysts’ expectations of $3.89 billion.
CSX Stock Performance
Shares of CSX stock traded up $0.04 during trading hours on Wednesday, reaching $49.93. 17,007,830 shares of the stock traded hands, compared to its average volume of 13,098,747. The company has a 50 day moving average price of $47.30 and a 200 day moving average price of $42.87. The firm has a market capitalization of $92.78 billion, a price-to-earnings ratio of 30.63, a P/E/G ratio of 2.47 and a beta of 1.21. CSX has a one year low of $31.80 and a one year high of $51.28. The company has a quick ratio of 0.83, a current ratio of 0.97 and a debt-to-equity ratio of 1.34.
CSX Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Monday, August 31st. CSX’s dividend payout ratio (DPR) is presently 34.36%.
Analysts Set New Price Targets
Check Out Our Latest Research Report on CSX
Insider Buying and Selling
In related news, Director John J. Zillmer sold 10,000 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $46.45, for a total value of $464,500.00. Following the completion of the sale, the director directly owned 353,714 shares of the company’s stock, valued at approximately $16,430,015.30. This represents a 2.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kevin S. Boone sold 136,708 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $46.70, for a total transaction of $6,384,263.60. Following the completion of the sale, the chief financial officer directly owned 208,622 shares of the company’s stock, valued at approximately $9,742,647.40. This trade represents a 39.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.30% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On CSX
Several hedge funds have recently modified their holdings of CSX. Brighton Jones LLC raised its stake in CSX by 5.5% during the fourth quarter. Brighton Jones LLC now owns 16,254 shares of the transportation company’s stock valued at $525,000 after purchasing an additional 849 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of CSX by 3.2% in the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 74,410 shares of the transportation company’s stock valued at $2,428,000 after acquiring an additional 2,281 shares during the period. WFA of San Diego LLC purchased a new stake in shares of CSX in the second quarter valued at $28,000. Captrust Financial Advisors lifted its holdings in shares of CSX by 0.8% in the 2nd quarter. Captrust Financial Advisors now owns 405,828 shares of the transportation company’s stock worth $13,242,000 after acquiring an additional 3,162 shares during the last quarter. Finally, Horizon Investments LLC boosted its stake in shares of CSX by 22.5% during the 3rd quarter. Horizon Investments LLC now owns 148,355 shares of the transportation company’s stock worth $5,268,000 after purchasing an additional 27,280 shares during the period. Hedge funds and other institutional investors own 73.57% of the company’s stock.
About CSX
CSX Corporation is a leading North American transportation company that provides rail-based freight services and supply-chain solutions. Its operating subsidiary, CSX Transportation, moves a wide range of goods for customers across multiple industries, using a combination of long-haul rail service, intermodal operations and terminal and yard services. The company focuses on delivering efficient, reliable freight transportation between major production centers, consumption markets and port gateways.
CSX’s freight portfolio includes intermodal containers and trailers, bulk commodities, industrial products and specialized unit trains.
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