CSX Co. (CSX) Expected to Announce Quarterly Sales of $3.13 Billion

Analysts expect that CSX Co. (NASDAQ:CSX) will announce $3.13 billion in sales for the current fiscal quarter, according to Zacks. Seven analysts have made estimates for CSX’s earnings, with estimates ranging from $3.07 billion to $3.21 billion. CSX reported sales of $2.86 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 9.4%. The business is expected to report its next quarterly earnings results after the market closes on Wednesday, January 16th.

On average, analysts expect that CSX will report full-year sales of $12.24 billion for the current financial year, with estimates ranging from $12.18 billion to $12.31 billion. For the next financial year, analysts expect that the company will post sales of $12.70 billion, with estimates ranging from $12.41 billion to $13.02 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow CSX.

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

CSX has been the subject of a number of recent research reports. Deutsche Bank increased their target price on CSX from $83.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, September 27th. Citigroup increased their target price on CSX from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, October 1st. Bank of America increased their target price on CSX from $77.00 to $82.00 and gave the company a “buy” rating in a research note on Monday, October 1st. BidaskClub raised CSX from a “hold” rating to a “buy” rating in a report on Saturday, October 6th. Finally, Morgan Stanley increased their price target on CSX from $52.00 to $55.00 and gave the company a “sell” rating in a report on Tuesday, October 9th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the company’s stock. CSX has a consensus rating of “Buy” and an average price target of $76.12.

A number of large investors have recently added to or reduced their stakes in the business. Highwater Wealth Management LLC acquired a new stake in shares of CSX during the 4th quarter worth approximately $31,000. Moody National Bank Trust Division acquired a new stake in shares of CSX during the 4th quarter worth approximately $34,000. Northwest Bancshares Inc. raised its position in shares of CSX by 14.2% during the 3rd quarter. Northwest Bancshares Inc. now owns 5,630 shares of the transportation company’s stock worth $417,000 after purchasing an additional 700 shares during the period. Captrust Financial Advisors raised its position in shares of CSX by 10.7% during the 2nd quarter. Captrust Financial Advisors now owns 7,659 shares of the transportation company’s stock worth $488,000 after purchasing an additional 741 shares during the period. Finally, Oregon Public Employees Retirement Fund increased its position in CSX by 0.8% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 96,848 shares of the transportation company’s stock valued at $6,177,000 after acquiring an additional 748 shares during the period. 75.09% of the stock is currently owned by institutional investors.

Shares of CSX stock traded up $0.53 during trading hours on Friday, reaching $65.22. The company had a trading volume of 3,678,965 shares, compared to its average volume of 5,506,099. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.29 and a current ratio of 1.43. CSX has a twelve month low of $48.43 and a twelve month high of $76.24. The firm has a market cap of $54.03 billion, a P/E ratio of 28.36, a price-to-earnings-growth ratio of 1.14 and a beta of 1.33.

CSX Company Profile

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.

See Also: Systematic Risk

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