CSX Corporation (NASDAQ:CSX) updated its FY17 earnings guidance on Tuesday. The company provided EPS guidance of +25% to ~$2.26 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.30.
A number of research firms recently commented on CSX. Loop Capital reiterated a hold rating and set a $54.00 price target (up from $52.00) on shares of CSX Corporation in a report on Saturday, July 22nd. BidaskClub upgraded shares of CSX Corporation from a buy rating to a strong-buy rating in a report on Thursday, July 6th. Bank of America Corporation reiterated a buy rating and set a $65.00 price target (up from $56.00) on shares of CSX Corporation in a report on Tuesday, June 6th. Zacks Investment Research lowered shares of CSX Corporation from a buy rating to a hold rating in a report on Friday, July 21st. Finally, TD Securities reiterated a buy rating and set a $64.00 price target (up from $57.00) on shares of CSX Corporation in a report on Friday, April 21st. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and nineteen have issued a buy rating to the company. CSX Corporation has an average rating of Buy and an average target price of $53.74.
Shares of CSX Corporation (CSX) opened at 48.74 on Friday. The company’s 50-day moving average is $52.99 and its 200 day moving average is $49.96. CSX Corporation has a 12 month low of $27.68 and a 12 month high of $55.48. The stock has a market capitalization of $44.51 billion, a P/E ratio of 25.49 and a beta of 1.30.
CSX Corporation (NASDAQ:CSX) last posted its quarterly earnings results on Tuesday, July 18th. The transportation company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.05. The company had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.85 billion. CSX Corporation had a return on equity of 16.93% and a net margin of 15.46%. CSX Corporation’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.47 EPS. Equities research analysts predict that CSX Corporation will post $2.30 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date is Tuesday, August 29th. CSX Corporation’s dividend payout ratio is currently 41.88%.
CSX Corporation announced that its board has initiated a share repurchase plan on Thursday, April 20th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the transportation company to buy up to 2.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
In related news, Director Ridge Lp Mantle purchased 1,357,000 shares of CSX Corporation stock in a transaction on Friday, July 21st. The shares were bought at an average price of $51.59 per share, with a total value of $70,007,630.00. Following the transaction, the director now directly owns 106 shares of the company’s stock, valued at $5,468.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.79% of the stock is owned by company insiders.
About CSX Corporation
CSX Corporation is a transportation company. The Company provides rail-based freight transportation services, including traditional rail service and transport of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations.
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