CSX (NASDAQ:CSX) Posts Earnings Results, Beats Estimates By $0.01 EPS

CSX (NASDAQ:CSX) posted its quarterly earnings data on Wednesday. The transportation company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01, Briefing.com reports. The business had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.66 billion. CSX had a net margin of 24.75% and a return on equity of 29.88%. The business’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter last year, the business earned $0.48 earnings per share.

CSX Price Performance

NASDAQ:CSX traded down $0.08 on Friday, reaching $34.31. The stock had a trading volume of 3,092,963 shares, compared to its average volume of 11,983,960. The company has a market capitalization of $67.16 billion, a P/E ratio of 18.90, a price-to-earnings-growth ratio of 1.97 and a beta of 1.18. CSX has a 1-year low of $29.03 and a 1-year high of $40.12. The company has a quick ratio of 0.91, a current ratio of 1.05 and a debt-to-equity ratio of 1.48. The stock has a fifty day moving average price of $36.93 and a 200-day moving average price of $34.32.

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were paid a $0.12 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $0.48 dividend on an annualized basis and a yield of 1.40%. This is a boost from CSX’s previous quarterly dividend of $0.11. CSX’s payout ratio is presently 26.37%.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. UBS Group decreased their price target on shares of CSX from $46.00 to $44.00 and set a “buy” rating on the stock in a research report on Thursday. Stifel Nicolaus lifted their price objective on shares of CSX from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Benchmark reiterated a “buy” rating and set a $40.00 price objective on shares of CSX in a research report on Thursday. TD Cowen lifted their price objective on shares of CSX from $32.00 to $36.00 and gave the stock a “market perform” rating in a research report on Thursday, January 25th. Finally, StockNews.com cut shares of CSX from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, CSX currently has a consensus rating of “Moderate Buy” and an average target price of $37.72.

Hedge Funds Weigh In On CSX

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. West Tower Group LLC acquired a new position in shares of CSX during the fourth quarter worth approximately $26,000. Fortis Capital Advisors LLC acquired a new position in shares of CSX during the fourth quarter worth approximately $27,000. Cornerstone Planning Group LLC acquired a new position in shares of CSX during the second quarter worth approximately $41,000. True Wealth Design LLC acquired a new position in shares of CSX during the fourth quarter worth approximately $42,000. Finally, Milestone Investment Advisors LLC acquired a new position in shares of CSX during the first quarter worth approximately $71,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Company Profile

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 also transports chemicals, agricultural and food products, minerals, automotive, forest products, fertilizers, 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.