CSX (NASDAQ:CSX) Issues Earnings Results

CSX (NASDAQ:CSX) posted its earnings results on Wednesday. The transportation company reported $0.46 EPS for the quarter, beating 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 firm had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.66 billion. During the same period in the prior year, the company earned $0.48 EPS. The company’s quarterly revenue was down .8% compared to the same quarter last year.

CSX Price Performance

NASDAQ CSX opened at $34.39 on Friday. The company has a market cap 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 firm’s 50 day moving average price is $36.93 and its 200-day moving average price is $34.32. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.91 and a current ratio of 1.05. CSX has a 52-week low of $29.03 and a 52-week high of $40.12.

CSX Increases Dividend

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

Hedge Funds Weigh In On CSX

A number of large investors have recently bought and sold shares of CSX. West Tower Group LLC bought a new position in shares of CSX in the 4th quarter worth $26,000. Fortis Capital Advisors LLC bought a new stake in shares of CSX in the 4th quarter valued at about $27,000. Cornerstone Planning Group LLC bought a new position in shares of CSX during the 2nd quarter worth approximately $41,000. True Wealth Design LLC purchased a new stake in CSX during the fourth quarter valued at approximately $42,000. Finally, Milestone Investment Advisors LLC acquired a new stake in CSX in the first quarter valued at approximately $71,000. Institutional investors own 73.57% of the company’s stock.

Wall Street Analysts Forecast Growth

CSX has been the topic of several recent research reports. Raymond James upped their target price on shares of CSX from $35.00 to $38.00 and gave the company an “outperform” rating in a research report on Tuesday, January 16th. Royal Bank of Canada cut their price objective on shares of CSX from $37.00 to $36.00 and set a “sector perform” rating on the stock in a research report on Thursday. Susquehanna upped their price target on shares of CSX from $42.00 to $44.00 and gave the company a “positive” rating in a report on Thursday, March 28th. JPMorgan Chase & Co. cut their target price on CSX from $40.00 to $39.00 and set an “overweight” rating on the stock in a research note on Thursday, December 21st. Finally, Benchmark reissued a “buy” rating and set a $40.00 price target on shares of CSX in a research note on Thursday. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $37.72.

About CSX

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.