CSX (NASDAQ:CSX) Announces Earnings Results

CSX (NASDAQ:CSX) issued its earnings results on Wednesday. The transportation company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02), Zacks reports. CSX had a return on equity of 29.11% and a net margin of 24.52%. The business had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.68 billion. During the same period last year, the firm posted $0.42 EPS. CSX’s quarterly revenue was up 1.3% compared to the same quarter last year.

CSX Trading Up 3.3 %

NASDAQ:CSX traded up $1.10 during midday trading on Friday, hitting $34.19. 8,256,746 shares of the company traded hands, compared to its average volume of 11,566,248. The firm’s fifty day moving average is $34.02 and its 200-day moving average is $33.99. CSX has a 12-month low of $29.03 and a 12-month high of $40.12. The firm has a market capitalization of $66.84 billion, a P/E ratio of 18.18, a P/E/G ratio of 1.90 and a beta of 1.19. The company has a current ratio of 1.16, a quick ratio of 1.01 and a debt-to-equity ratio of 1.42.

CSX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.48 annualized dividend and a yield of 1.40%. CSX’s payout ratio is presently 26.37%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Bank of America downgraded CSX from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a research note on Monday, July 8th. Royal Bank of Canada dropped their price target on CSX from $36.00 to $35.00 and set a “sector perform” rating for the company in a research note on Thursday. Barclays dropped their price target on CSX from $41.00 to $40.00 and set an “overweight” rating for the company in a research note on Wednesday, September 25th. TD Cowen dropped their price target on CSX from $36.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday. Finally, Benchmark restated a “buy” rating and issued a $40.00 price target on shares of CSX in a research note on Wednesday, August 7th. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $38.61.

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.