CSX (NASDAQ:CSX) Announces Quarterly Earnings Results, Beats Estimates By $0.01 EPS

CSX (NASDAQ:CSX) issued its quarterly earnings data on Monday. The transportation company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.01, Briefing.com reports. CSX had a return on equity of 29.58% and a net margin of 24.75%. The firm had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.70 billion. During the same period in the previous year, the firm posted $0.49 earnings per share. CSX’s revenue was up .0% on a year-over-year basis.

CSX Stock Performance

CSX traded down $1.08 during trading hours on Monday, hitting $33.00. 18,630,886 shares of the stock were exchanged, compared to its average volume of 11,834,943. The stock has a market cap of $64.51 billion, a price-to-earnings ratio of 18.31, a price-to-earnings-growth ratio of 1.89 and a beta of 1.20. The stock has a 50-day simple moving average of $33.56 and a 200-day simple moving average of $35.05. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.15 and a quick ratio of 1.00. CSX has a 12 month low of $29.03 and a 12 month high of $40.12.

CSX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be given a $0.12 dividend. The ex-dividend date is Friday, August 30th. This represents a $0.48 annualized dividend and a dividend yield of 1.45%. CSX’s payout ratio is 26.37%.

Analyst Ratings Changes

Several research firms have recently weighed in on CSX. UBS Group reduced their price objective on CSX from $46.00 to $44.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Royal Bank of Canada decreased their price target on shares of CSX from $37.00 to $36.00 and set a “sector perform” rating for the company in a research report on Thursday, April 18th. Bank of America lowered CSX from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a research report on Monday, July 8th. Jefferies Financial Group decreased their target price on CSX from $40.00 to $38.00 and set a “hold” rating for the company in a research report on Thursday, April 18th. Finally, Stifel Nicolaus boosted their price target on CSX from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $38.14.

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.