Brokerages predict that CSX Co. (NASDAQ:CSX) will report sales of $2.75 billion for the current fiscal quarter, according to Zacks. Four analysts have made estimates for CSX’s earnings. The highest sales estimate is $2.84 billion and the lowest is $2.67 billion. CSX posted sales of $2.89 billion in the same quarter last year, which suggests a negative year-over-year growth rate of 4.8%. The company is scheduled to report its next earnings results after the market closes on Thursday, January 21st.
On average, analysts expect that CSX will report full-year sales of $10.52 billion for the current fiscal year, with estimates ranging from $10.43 billion to $10.60 billion. For the next financial year, analysts anticipate that the business will report sales of $11.35 billion, with estimates ranging from $10.94 billion to $11.70 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow CSX.
CSX (NASDAQ:CSX) last issued its quarterly earnings data on Wednesday, October 21st. The transportation company reported $0.96 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.03. The business had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.68 billion. CSX had a net margin of 26.08% and a return on equity of 22.83%. The firm’s revenue was down 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.08 EPS.
A number of equities research analysts have weighed in on CSX shares. Sanford C. Bernstein upgraded shares of CSX from a “market perform” rating to an “outperform” rating and set a $94.00 target price for the company in a research note on Monday, October 12th. Credit Suisse Group upped their target price on CSX from $91.00 to $102.00 and gave the company an “outperform” rating in a research report on Monday, November 16th. Cowen increased their price target on CSX from $80.00 to $84.00 and gave the stock a “market perform” rating in a research report on Thursday, October 22nd. Benchmark raised shares of CSX from a “hold” rating to a “buy” rating and set a $95.00 price objective for the company in a report on Friday, September 25th. Finally, Royal Bank of Canada raised shares of CSX from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $80.00 to $89.00 in a report on Friday, October 30th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $84.78.
CSX traded up $0.14 during trading on Wednesday, reaching $95.98. The stock had a trading volume of 337,571 shares, compared to its average volume of 4,240,280. The stock has a market cap of $73.40 billion, a PE ratio of 26.89, a PEG ratio of 2.89 and a beta of 1.18. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.73 and a current ratio of 1.84. The business has a 50-day moving average of $90.82 and a 200-day moving average of $79.80. CSX has a one year low of $46.81 and a one year high of $96.27.
CSX announced that its Board of Directors has initiated a share repurchase program on Wednesday, October 21st that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the transportation company to buy up to 8.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
In other news, EVP Mark Kenneth Wallace sold 3,986 shares of CSX stock in a transaction dated Thursday, November 5th. The stock was sold at an average price of $87.57, for a total transaction of $349,054.02. Following the sale, the executive vice president now directly owns 58,593 shares of the company’s stock, valued at $5,130,989.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.58% of the company’s stock.
A number of hedge funds have recently made changes to their positions in CSX. Murphy Capital Management Inc. raised its position in shares of CSX by 0.3% in the third quarter. Murphy Capital Management Inc. now owns 45,058 shares of the transportation company’s stock valued at $3,499,000 after purchasing an additional 130 shares during the period. Fulton Bank N.A. increased its stake in shares of CSX by 2.3% in the 4th quarter. Fulton Bank N.A. now owns 5,827 shares of the transportation company’s stock worth $529,000 after purchasing an additional 132 shares in the last quarter. Independent Advisor Alliance raised its holdings in shares of CSX by 0.4% during the 3rd quarter. Independent Advisor Alliance now owns 37,773 shares of the transportation company’s stock worth $2,934,000 after acquiring an additional 133 shares in the last quarter. Aspen Investment Management Inc boosted its holdings in shares of CSX by 0.6% in the 3rd quarter. Aspen Investment Management Inc now owns 20,970 shares of the transportation company’s stock worth $1,629,000 after purchasing an additional 135 shares during the period. Finally, Vestmark Advisory Solutions Inc. raised its stake in shares of CSX by 4.2% in the third quarter. Vestmark Advisory Solutions Inc. now owns 3,370 shares of the transportation company’s stock valued at $262,000 after acquiring an additional 136 shares during the period. 73.75% of the stock is currently owned by institutional investors and hedge funds.
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 transports chemicals, automotive, agricultural and food products, minerals, fertilizers, forest products, 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.
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