Analysts expect that CSX Co. (NASDAQ:CSX) will post $2.97 billion in sales for the current quarter, according to Zacks Investment Research. Seven analysts have made estimates for CSX’s earnings, with the lowest sales estimate coming in at $2.90 billion and the highest estimate coming in at $3.00 billion. CSX reported sales of $2.93 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 1.4%. The company is scheduled to report its next quarterly earnings results after the market closes on Tuesday, July 17th.
According to Zacks, analysts expect that CSX will report full-year sales of $11.69 billion for the current year, with estimates ranging from $11.61 billion to $11.74 billion. For the next year, analysts expect that the company will report sales of $12.08 billion per share, with estimates ranging from $11.80 billion to $12.32 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for CSX.
CSX (NASDAQ:CSX) last announced its quarterly earnings data on Tuesday, April 17th. The transportation company reported $0.78 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.12. CSX had a net margin of 50.85% and a return on equity of 18.00%. The firm had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.80 billion. During the same period in the prior year, the company posted $0.51 earnings per share. The company’s revenue for the quarter was up .2% compared to the same quarter last year.
Shares of CSX traded up $0.19, reaching $63.78, during midday trading on Tuesday, MarketBeat reports. 5,002,278 shares of the company were exchanged, compared to its average volume of 4,837,740. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.68 and a current ratio of 1.87. CSX has a one year low of $47.99 and a one year high of $67.69. The firm has a market cap of $55.83 billion, a price-to-earnings ratio of 27.73, a P/E/G ratio of 1.39 and a beta of 1.22.
The business also recently announced a quarterly dividend, which was paid on Friday, June 15th. Shareholders of record on Thursday, May 31st were given a $0.22 dividend. The ex-dividend date was Wednesday, May 30th. This represents a $0.88 dividend on an annualized basis and a yield of 1.38%. CSX’s payout ratio is currently 38.26%.
In other CSX news, CEO James M. Foote purchased 5,000 shares of the business’s stock in a transaction on Wednesday, May 2nd. The shares were bought at an average cost of $59.91 per share, for a total transaction of $299,550.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 5.03% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in CSX. Pinebridge Investments L.P. increased its stake in CSX by 93.7% in the fourth quarter. Pinebridge Investments L.P. now owns 3,384 shares of the transportation company’s stock valued at $186,000 after purchasing an additional 1,637 shares during the last quarter. Brown Advisory Inc. increased its position in shares of CSX by 2.8% in the fourth quarter. Brown Advisory Inc. now owns 112,603 shares of the transportation company’s stock valued at $6,195,000 after buying an additional 3,101 shares in the last quarter. OppenheimerFunds Inc. increased its position in shares of CSX by 5.2% in the fourth quarter. OppenheimerFunds Inc. now owns 31,974 shares of the transportation company’s stock valued at $1,759,000 after buying an additional 1,587 shares in the last quarter. Financial Counselors Inc. increased its position in CSX by 6.4% during the 4th quarter. Financial Counselors Inc. now owns 111,725 shares of the transportation company’s stock worth $6,146,000 after purchasing an additional 6,697 shares in the last quarter. Finally, Sirios Capital Management L P increased its position in CSX by 265.0% during the 4th quarter. Sirios Capital Management L P now owns 1,882,529 shares of the transportation company’s stock worth $103,558,000 after purchasing an additional 1,366,709 shares in the last quarter. Hedge funds and other institutional investors own 75.33% of the company’s stock.
CSX Company Profile
CSX Corporation, together with its subsidiaries, provides rail-based transportation services in the United States and Canada. The company offers rail services, as well as transports intermodal containers and trailers. It transports agricultural and food products, fertilizers, chemicals, automotive, metals and equipment, minerals, and forest products; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.
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