CSX (NASDAQ:CSX) Announces Earnings Results

CSX (NASDAQ:CSX) announced its quarterly earnings results on Monday. The transportation company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.01, Briefing.com reports. The business had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.70 billion. CSX had a return on equity of 29.58% and a net margin of 24.75%. The business’s quarterly revenue was up .0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.49 EPS.

CSX Trading Down 0.7 %

Shares of NASDAQ CSX traded down $0.24 during midday trading on Wednesday, hitting $33.62. The company’s stock had a trading volume of 10,019,695 shares, compared to its average volume of 11,868,307. The business’s 50 day moving average is $33.55 and its two-hundred day moving average is $35.03. The firm has a market cap of $65.72 billion, a P/E ratio of 18.47, a price-to-earnings-growth ratio of 1.89 and a beta of 1.20. CSX has a 12-month low of $29.03 and a 12-month high of $40.12. The company has a current ratio of 1.15, a quick ratio of 1.00 and a debt-to-equity ratio of 1.42.

CSX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.48 annualized dividend and a dividend yield of 1.43%. CSX’s payout ratio is 26.37%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CSX shares. Stephens reaffirmed an “overweight” rating and issued a $42.00 price target on shares of CSX in a research note on Tuesday. Sanford C. Bernstein lifted their price target on CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a research report on Monday, July 8th. Susquehanna lifted their price target on CSX from $40.00 to $41.00 and gave the company a “positive” rating in a research report on Wednesday. Jefferies Financial Group dropped their target price on CSX from $40.00 to $38.00 and set a “hold” rating on the stock in a report on Thursday, April 18th. Finally, Wells Fargo & Company started coverage on CSX in a research report on Friday, June 7th. They set an “equal weight” rating and a $35.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $38.80.

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.