CSX Co. (CSX) Expected to Announce Earnings of $0.94 Per Share

Analysts forecast that CSX Co. (NASDAQ:CSX) will announce $0.94 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have issued estimates for CSX’s earnings, with the lowest EPS estimate coming in at $0.88 and the highest estimate coming in at $1.00. CSX posted earnings per share of $0.51 in the same quarter last year, which would indicate a positive year-over-year growth rate of 84.3%. The firm is expected to announce its next earnings results after the market closes on Tuesday, October 16th.

According to Zacks, analysts expect that CSX will report full year earnings of $3.66 per share for the current fiscal year, with EPS estimates ranging from $3.58 to $3.72. For the next fiscal year, analysts anticipate that the business will report earnings of $4.04 per share, with EPS estimates ranging from $3.80 to $4.25. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that follow CSX.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Tuesday, July 17th. The transportation company reported $1.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.15. The company had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3 billion. CSX had a return on equity of 19.31% and a net margin of 53.27%. CSX’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.64 EPS.

CSX has been the subject of a number of research analyst reports. Stephens reiterated a “buy” rating and set a $85.00 price target on shares of CSX in a report on Tuesday. BidaskClub cut CSX from a “buy” rating to a “hold” rating in a report on Friday, August 31st. Stifel Nicolaus lifted their price target on CSX from $74.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, July 18th. Loop Capital upgraded CSX from a “hold” rating to a “buy” rating and lifted their price target for the stock from $65.00 to $78.00 in a report on Wednesday, July 18th. Finally, Morgan Stanley lifted their price target on CSX from $49.00 to $52.00 and gave the stock a “sell” rating in a report on Wednesday, July 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and fifteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $72.43.

Shares of NASDAQ CSX traded up $1.43 during mid-day trading on Friday, hitting $70.20. The company had a trading volume of 7,721,003 shares, compared to its average volume of 5,814,087. The stock has a market capitalization of $63.59 billion, a price-to-earnings ratio of 30.52, a PEG ratio of 1.54 and a beta of 1.24. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.66 and a quick ratio of 1.48. CSX has a one year low of $48.26 and a one year high of $76.24.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 30th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.88 annualized dividend and a yield of 1.25%. CSX’s dividend payout ratio (DPR) is presently 38.26%.

A number of hedge funds have recently modified their holdings of the business. Egerton Capital UK LLP acquired a new stake in CSX during the second quarter worth approximately $440,710,000. Standard Life Aberdeen plc lifted its position in CSX by 4.9% during the second quarter. Standard Life Aberdeen plc now owns 6,502,962 shares of the transportation company’s stock worth $414,760,000 after acquiring an additional 301,707 shares during the last quarter. Morgan Stanley lifted its position in CSX by 13.6% during the second quarter. Morgan Stanley now owns 6,340,678 shares of the transportation company’s stock worth $404,409,000 after acquiring an additional 757,521 shares during the last quarter. Millennium Management LLC lifted its position in CSX by 13.3% during the second quarter. Millennium Management LLC now owns 4,847,225 shares of the transportation company’s stock worth $309,156,000 after acquiring an additional 569,310 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its position in CSX by 1.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 3,281,613 shares of the transportation company’s stock worth $209,302,000 after acquiring an additional 46,078 shares during the last quarter. Hedge funds and other institutional investors own 74.62% 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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Earnings History and Estimates for CSX (NASDAQ:CSX)

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