Analysts forecast that CSX Corporation (NASDAQ:CSX) will announce $0.55 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have issued estimates for CSX Corporation’s earnings, with the lowest EPS estimate coming in at $0.49 and the highest estimate coming in at $0.58. CSX Corporation posted earnings per share of $0.48 in the same quarter last year, which would indicate a positive year-over-year growth rate of 14.6%. The firm is expected to announce its next earnings results before the market opens on Wednesday, October 11th.
According to Zacks, analysts expect that CSX Corporation will report full year earnings of $2.27 per share for the current fiscal year, with EPS estimates ranging from $2.15 to $2.35. For the next fiscal year, analysts anticipate that the business will report earnings of $2.72 per share, with EPS estimates ranging from $2.49 to $3.22. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that follow CSX Corporation.
CSX Corporation (NASDAQ:CSX) last posted its quarterly earnings data on Tuesday, July 18th. The transportation company reported $0.64 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.05. The firm had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.85 billion. CSX Corporation had a net margin of 15.46% and a return on equity of 16.93%. The business’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the company posted $0.47 EPS.
A number of brokerages recently weighed in on CSX. Zacks Investment Research lowered shares of CSX Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 21st. J P Morgan Chase & Co dropped their target price on shares of CSX Corporation from $60.00 to $58.00 and set an “overweight” rating for the company in a research report on Thursday, July 20th. BidaskClub lowered shares of CSX Corporation from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 19th. TD Securities dropped their target price on shares of CSX Corporation from $64.00 to $63.00 and set a “buy” rating for the company in a research report on Thursday, July 20th. Finally, UBS AG restated a “buy” rating and set a $63.00 target price on shares of CSX Corporation in a research report on Saturday, July 22nd. Twelve equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $54.13.
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Shares of CSX Corporation (NASDAQ CSX) opened at 52.81 on Thursday. CSX Corporation has a 52-week low of $29.21 and a 52-week high of $55.48. The stock has a market cap of $48.23 billion, a PE ratio of 27.62 and a beta of 1.30. The stock’s 50 day moving average is $50.16 and its 200 day moving average is $50.73.
The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Thursday, August 31st were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.51%. The ex-dividend date was Tuesday, August 29th. CSX Corporation’s dividend payout ratio is presently 41.88%.
CSX Corporation declared that its board has approved a stock buyback program on Tuesday, July 18th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the transportation company to reacquire up to 1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
In related news, Director Ridge Lp Mantle purchased 1,357,000 shares of CSX Corporation stock in a transaction that occurred 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 purchase, the director now directly owns 106 shares of the company’s stock, valued at approximately $5,468.54. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 4.79% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. United Services Automobile Association increased its stake in CSX Corporation by 20.9% in the 1st quarter. United Services Automobile Association now owns 573,690 shares of the transportation company’s stock worth $26,705,000 after buying an additional 99,118 shares during the period. ClariVest Asset Management LLC purchased a new position in CSX Corporation in the 1st quarter worth about $13,531,000. Westwood Holdings Group Inc. increased its stake in CSX Corporation by 0.7% in the 1st quarter. Westwood Holdings Group Inc. now owns 7,549 shares of the transportation company’s stock worth $351,000 after buying an additional 49 shares during the period. Stratos Wealth Partners LTD. increased its stake in CSX Corporation by 10.6% in the 1st quarter. Stratos Wealth Partners LTD. now owns 13,720 shares of the transportation company’s stock worth $639,000 after buying an additional 1,316 shares during the period. Finally, TIAA CREF Investment Management LLC increased its stake in CSX Corporation by 31.1% in the 1st quarter. TIAA CREF Investment Management LLC now owns 4,861,202 shares of the transportation company’s stock worth $226,289,000 after buying an additional 1,152,841 shares during the period. 69.82% of the stock is currently owned by institutional investors.
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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