CSX Co. (NASDAQ:CSX) – Stock analysts at Seaport Global Securities upped their FY2018 EPS estimates for CSX in a report released on Wednesday, October 17th, according to Zacks Investment Research. Seaport Global Securities analyst M. Levin now anticipates that the transportation company will earn $3.86 per share for the year, up from their previous estimate of $3.65. Seaport Global Securities also issued estimates for CSX’s Q4 2018 earnings at $1.02 EPS and FY2019 earnings at $4.25 EPS.
Other equities analysts also recently issued research reports about the company. TD Securities boosted their price target on CSX from $68.00 to $71.00 and gave the stock a “$69.00” rating in a research report on Wednesday, July 18th. Raymond James boosted their price target on CSX from $70.00 to $75.00 and gave the stock a “$69.00” rating in a research report on Wednesday, July 18th. Cowen reissued a “$69.00” rating and set a $74.00 price target on shares of CSX in a research report on Wednesday, July 18th. BidaskClub raised CSX from a “hold” rating to a “buy” rating in a research report on Wednesday, August 15th. Finally, Stifel Nicolaus boosted their price target on CSX from $74.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, July 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $77.60.
CSX (NASDAQ:CSX) last released its earnings results on Tuesday, October 16th. The transportation company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.11. The business had revenue of $3.13 billion for the quarter, compared to the consensus estimate of $3.05 billion. CSX had a return on equity of 21.38% and a net margin of 55.19%. CSX’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.51 earnings per share.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend is Thursday, November 29th. CSX’s dividend payout ratio is presently 38.26%.
Several large investors have recently modified their holdings of the company. Morningstar Investment Services LLC bought a new stake in shares of CSX in the second quarter valued at approximately $204,000. Meeder Asset Management Inc. bought a new stake in shares of CSX in the second quarter valued at approximately $376,000. Millennium Management LLC boosted its stake in shares of CSX by 13.3% in the second quarter. Millennium Management LLC now owns 4,847,225 shares of the transportation company’s stock valued at $309,156,000 after buying an additional 569,310 shares during the period. Hartford Financial Management Inc. boosted its stake in shares of CSX by 56.0% in the second quarter. Hartford Financial Management Inc. now owns 109,736 shares of the transportation company’s stock valued at $6,999,000 after buying an additional 39,409 shares during the period. Finally, State of Alaska Department of Revenue boosted its stake in shares of CSX by 12.8% in the second quarter. State of Alaska Department of Revenue now owns 128,747 shares of the transportation company’s stock valued at $8,209,000 after buying an additional 14,610 shares during the period. Institutional investors own 76.20% 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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