Analysts expect CSX Co. (NASDAQ:CSX) to announce $2.74 billion in sales for the current quarter, Zacks reports. Four analysts have made estimates for CSX’s earnings. The lowest sales estimate is $2.67 billion and the highest is $2.79 billion. CSX reported sales of $2.89 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 5.2%. The company is expected to issue its next earnings report after the market closes on Thursday, January 21st.
On average, analysts expect that CSX will report full year sales of $10.51 billion for the current financial year, with estimates ranging from $10.43 billion to $10.56 billion. For the next financial year, analysts expect that the business will post sales of $11.35 billion, with estimates ranging from $10.94 billion to $11.70 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover CSX.
CSX (NASDAQ:CSX) last released its quarterly earnings data on Wednesday, October 21st. The transportation company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.93 by $0.03. The business had revenue of $2.65 billion for 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 business’s revenue for the quarter was down 11.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.08 EPS.
Shares of CSX stock traded down $1.25 during trading hours on Wednesday, hitting $94.64. The company’s stock had a trading volume of 4,679,219 shares, compared to its average volume of 4,199,939. The company has a 50 day moving average of $91.33 and a 200 day moving average of $80.64. The stock has a market cap of $72.38 billion, a PE ratio of 26.29, a price-to-earnings-growth ratio of 3.09 and a beta of 1.18. The company has a current ratio of 1.84, a quick ratio of 1.73 and a debt-to-equity ratio of 1.27. CSX has a 12-month low of $46.81 and a 12-month high of $97.54.
CSX announced that its board has initiated a share buyback program on Wednesday, October 21st that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the transportation company to reacquire up to 8.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.
In other news, EVP Mark Kenneth Wallace sold 3,986 shares of the company’s stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $87.57, for a total transaction of $349,054.02. Following the completion of the sale, the executive vice president now owns 58,593 shares of the company’s stock, valued at $5,130,989.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.58% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the company. Donaldson Capital Management LLC raised its holdings in CSX by 17.8% in the fourth quarter. Donaldson Capital Management LLC now owns 56,941 shares of the transportation company’s stock valued at $5,167,000 after buying an additional 8,592 shares during the period. Pathway Financial Advisors LLC purchased a new position in shares of CSX in the third quarter worth approximately $208,000. Robertson Stephens Wealth Management LLC purchased a new position in shares of CSX in the third quarter worth approximately $509,000. Fulton Bank N.A. increased its position in shares of CSX by 2.3% in the fourth quarter. Fulton Bank N.A. now owns 5,827 shares of the transportation company’s stock worth $529,000 after acquiring an additional 132 shares in the last quarter. Finally, Private Advisor Group LLC increased its position in shares of CSX by 17.4% in the second quarter. Private Advisor Group LLC now owns 60,230 shares of the transportation company’s stock worth $4,200,000 after acquiring an additional 8,906 shares in the last quarter. 73.75% of the stock is owned by institutional investors and hedge funds.
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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