CSX (NASDAQ:CSX) Releases Quarterly Earnings Results

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

CSX Stock Up 0.7 %

Shares of NASDAQ CSX opened at $34.39 on Friday. The firm has a market cap of $67.32 billion, a P/E ratio of 18.90, a price-to-earnings-growth ratio of 1.97 and a beta of 1.18. 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 1 year low of $29.03 and a 1 year high of $40.12. The firm’s 50 day moving average price is $36.93 and its 200 day moving average price is $34.32.

CSX Increases Dividend

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

Analyst Upgrades and Downgrades

Several analysts have recently commented on CSX shares. Royal Bank of Canada reduced their target price on shares of CSX from $37.00 to $36.00 and set a “sector perform” rating for the company in a research note on Thursday. Jefferies Financial Group lowered their price objective on CSX from $40.00 to $38.00 and set a “hold” rating on the stock in a report on Thursday. StockNews.com downgraded CSX from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Bank of America decreased their price target on CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Stifel Nicolaus increased 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. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, CSX currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.72.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CSX. West Tower Group LLC purchased a new stake in shares of CSX in the fourth quarter valued at $26,000. Fortis Capital Advisors LLC acquired a new stake in CSX in the 4th quarter worth about $27,000. Cornerstone Planning Group LLC acquired a new position in shares of CSX during the 2nd quarter valued at about $41,000. True Wealth Design LLC purchased a new position in shares of CSX during the 4th quarter worth about $42,000. Finally, PCA Investment Advisory Services Inc. purchased a new stake in CSX in the second quarter valued at approximately $77,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

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.