CSX (NASDAQ:CSX) Issues Earnings Results

CSX (NASDAQ:CSX) released its quarterly earnings results on Wednesday. The transportation company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.01, Briefing.com reports. CSX had a return on equity of 29.88% and a net margin of 24.75%. The company had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.66 billion. During the same period in the prior year, the firm earned $0.48 earnings per share. The firm’s revenue was down .8% compared to the same quarter last year.

CSX Stock Performance

NASDAQ CSX opened at $34.39 on Friday. CSX has a 1 year low of $29.03 and a 1 year high of $40.12. The company has a market capitalization of $67.32 billion, a PE ratio of 18.90, a P/E/G ratio of 1.97 and a beta of 1.18. The company has a fifty day moving average of $36.93 and a two-hundred day moving average of $34.32. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.05 and a quick ratio of 0.91.

CSX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend was Wednesday, February 28th. This is an increase from CSX’s previous quarterly dividend of $0.11. CSX’s dividend payout ratio is currently 26.37%.

Wall Street Analyst Weigh In

A number of research firms have commented on CSX. UBS Group decreased their price target on CSX from $46.00 to $44.00 and set a “buy” rating on the stock in a research note on Thursday. TD Cowen upped their price objective on CSX from $32.00 to $36.00 and gave the stock a “market perform” rating in a research report on Thursday, January 25th. BMO Capital Markets upped their price objective on CSX from $37.00 to $38.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Stifel Nicolaus upped their price objective on CSX from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Finally, Raymond James upped their price objective on CSX from $35.00 to $38.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 16th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $37.72.

Institutional Investors Weigh In On CSX

Several hedge funds have recently made changes to their positions in the business. FIL Ltd boosted its stake in shares of CSX by 42.7% during the fourth quarter. FIL Ltd now owns 1,413,814 shares of the transportation company’s stock worth $49,017,000 after buying an additional 422,840 shares during the period. SageView Advisory Group LLC boosted its stake in shares of CSX by 13.2% during the fourth quarter. SageView Advisory Group LLC now owns 7,374 shares of the transportation company’s stock worth $264,000 after buying an additional 858 shares during the period. Sanibel Captiva Trust Company Inc. acquired a new stake in shares of CSX during the fourth quarter worth about $1,518,000. Childress Capital Advisors LLC acquired a new stake in shares of CSX during the fourth quarter worth about $237,000. Finally, Harbour Investments Inc. boosted its stake in shares of CSX by 11.7% during the fourth quarter. Harbour Investments Inc. now owns 6,903 shares of the transportation company’s stock worth $239,000 after buying an additional 722 shares during the period. Institutional investors and hedge funds own 73.57% of the company’s stock.

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.