CSX (NASDAQ:CSX) Posts Earnings Results

CSX (NASDAQ:CSX) posted its earnings results on Wednesday. The transportation company reported $0.46 earnings per share 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 firm had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter in the prior year, the business earned $0.48 EPS. The business’s revenue for the quarter was down .8% on a year-over-year basis.

CSX Stock Performance

CSX stock opened at $34.39 on Friday. The company has a 50 day moving average price of $36.93 and a 200-day moving average price of $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 fifty-two week low of $29.03 and a fifty-two week 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.

CSX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend 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 payout ratio is currently 26.37%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Susquehanna upped their price target on CSX from $42.00 to $44.00 and gave the stock a “positive” rating in a research note on Thursday, March 28th. Raymond James increased their target price on CSX from $35.00 to $38.00 and gave the company an “outperform” rating in a research note on Tuesday, January 16th. 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. Royal Bank of Canada cut their target price on CSX from $37.00 to $36.00 and set a “sector perform” rating on the stock in a research note on Thursday. Finally, StockNews.com downgraded CSX from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $37.72.

Institutional Trading of CSX

Institutional investors and hedge funds have recently modified their holdings of the stock. West Tower Group LLC bought a new stake in shares of CSX during the fourth quarter valued at approximately $26,000. Fortis Capital Advisors LLC bought a new position in CSX in the fourth quarter worth approximately $27,000. Cornerstone Planning Group LLC bought a new position in CSX in the second quarter worth approximately $41,000. True Wealth Design LLC bought a new position in CSX in the fourth quarter worth approximately $42,000. Finally, Milestone Investment Advisors LLC bought a new position in CSX in the first quarter worth approximately $71,000. Institutional investors 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.