$3.14 Billion in Sales Expected for CSX Co. (CSX) This Quarter

Brokerages expect that CSX Co. (NASDAQ:CSX) will announce sales of $3.14 billion for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have provided estimates for CSX’s earnings. The lowest sales estimate is $3.10 billion and the highest is $3.21 billion. CSX posted sales of $2.86 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 9.8%. The business is scheduled to report its next earnings results on Tuesday, January 15th.

According to Zacks, analysts expect that CSX will report full-year sales of $12.25 billion for the current financial year, with estimates ranging from $12.20 billion to $12.31 billion. For the next financial year, analysts anticipate that the company will post sales of $12.73 billion, with estimates ranging from $12.50 billion to $13.02 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover CSX.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Tuesday, October 16th. The transportation company reported $1.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.11. The firm had revenue of $3.13 billion during the quarter, compared to the consensus estimate of $3.05 billion. CSX had a return on equity of 21.38% and a net margin of 55.19%. The company’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter last year, the company posted $0.51 EPS.

CSX has been the subject of a number of recent research reports. Deutsche Bank boosted their target price on CSX from $83.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, September 27th. Morgan Stanley set a $55.00 target price on CSX and gave the stock a “sell” rating in a research report on Monday, October 22nd. TD Securities boosted their target price on CSX from $76.00 to $80.00 and gave the stock a “hold” rating in a research report on Wednesday, October 17th. Scotiabank set a $81.00 target price on CSX and gave the stock a “hold” rating in a research report on Wednesday, October 17th. Finally, Citigroup lifted their price target on CSX from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, October 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $77.60.

Institutional investors have recently bought and sold shares of the stock. Xact Kapitalforvaltning AB increased its position in CSX by 2.5% in the second quarter. Xact Kapitalforvaltning AB now owns 169,679 shares of the transportation company’s stock worth $10,822,000 after buying an additional 4,219 shares in the last quarter. Westpac Banking Corp grew its position in shares of CSX by 3.4% during the second quarter. Westpac Banking Corp now owns 66,527 shares of the transportation company’s stock worth $4,243,000 after purchasing an additional 2,183 shares in the last quarter. GWM Advisors LLC purchased a new stake in shares of CSX during the second quarter worth about $208,000. Cornerstone Wealth Management LLC purchased a new stake in shares of CSX during the second quarter worth about $3,618,000. Finally, Whittier Trust Co. grew its position in shares of CSX by 18.9% during the second quarter. Whittier Trust Co. now owns 35,144 shares of the transportation company’s stock worth $1,083,000 after purchasing an additional 5,594 shares in the last quarter. Institutional investors own 75.95% of the company’s stock.

NASDAQ:CSX traded up $0.64 during mid-day trading on Monday, reaching $70.42. The stock had a trading volume of 3,591,700 shares, compared to its average volume of 5,879,981. The company has a market capitalization of $58.92 billion, a price-to-earnings ratio of 30.62, a PEG ratio of 1.37 and a beta of 1.27. CSX has a one year low of $48.43 and a one year high of $76.24. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.43 and a quick ratio of 1.29.

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

About CSX

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.

Further Reading: SEC Filing

Get a free copy of the Zacks research report on CSX (CSX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for CSX (NASDAQ:CSX)

Receive News & Ratings for CSX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CSX and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply