CSX Co. (NASDAQ:CSX) Expected to Announce Quarterly Sales of $3.19 Billion

Equities research analysts expect CSX Co. (NASDAQ:CSX) to report sales of $3.19 billion for the current quarter, Zacks reports. Six analysts have made estimates for CSX’s earnings. The lowest sales estimate is $3.10 billion and the highest is $3.25 billion. CSX reported sales of $3.10 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 2.9%. The business is expected to issue its next earnings results on Tuesday, July 16th.

According to Zacks, analysts expect that CSX will report full-year sales of $12.59 billion for the current year, with estimates ranging from $12.35 billion to $12.84 billion. For the next fiscal year, analysts forecast that the company will report sales of $13.01 billion, with estimates ranging from $12.54 billion to $13.46 billion. Zacks’ sales averages are an average based on a survey of analysts that follow CSX.

CSX (NASDAQ:CSX) last posted its earnings results on Tuesday, April 16th. The transportation company reported $1.02 EPS for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.11. CSX had a return on equity of 26.13% and a net margin of 27.84%. The business had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $3 billion. During the same quarter in the previous year, the firm earned $0.78 earnings per share. The business’s revenue was up 4.8% compared to the same quarter last year.

CSX has been the topic of a number of research analyst reports. BidaskClub upgraded CSX from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 14th. Royal Bank of Canada lowered CSX from an “outperform” rating to a “sector perform” rating and set a $78.00 price target on the stock. in a report on Tuesday, February 19th. Zacks Investment Research raised CSX from a “hold” rating to a “buy” rating and set a $82.00 price target on the stock in a report on Wednesday, February 27th. ValuEngine lowered CSX from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Finally, Stifel Nicolaus lowered CSX from a “buy” rating to a “hold” rating and set a $74.00 price target on the stock. in a report on Wednesday, March 6th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $79.41.

CSX opened at $78.23 on Thursday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.68 and a current ratio of 1.81. CSX has a one year low of $58.47 and a one year high of $80.73. The stock has a market cap of $63.17 billion, a PE ratio of 20.37, a PEG ratio of 1.33 and a beta of 1.27.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date is Thursday, May 30th. CSX’s dividend payout ratio is currently 25.00%.

In other CSX news, VP Angela C. Williams sold 9,560 shares of CSX stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $79.14, for a total value of $756,578.40. Following the sale, the vice president now owns 14,607 shares of the company’s stock, valued at approximately $1,155,997.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Nathan D. Goldman sold 7,000 shares of CSX stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $79.50, for a total value of $556,500.00. Following the completion of the sale, the executive vice president now directly owns 79,697 shares in the company, valued at approximately $6,335,911.50. The disclosure for this sale can be found here. 4.83% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in CSX. CWM LLC boosted its stake in shares of CSX by 10.7% during the 1st quarter. CWM LLC now owns 1,347 shares of the transportation company’s stock worth $101,000 after acquiring an additional 130 shares in the last quarter. Hilltop Holdings Inc. boosted its stake in shares of CSX by 1.7% during the 4th quarter. Hilltop Holdings Inc. now owns 8,866 shares of the transportation company’s stock worth $551,000 after acquiring an additional 149 shares in the last quarter. RFG Advisory LLC boosted its stake in shares of CSX by 3.6% during the 1st quarter. RFG Advisory LLC now owns 4,276 shares of the transportation company’s stock worth $319,000 after acquiring an additional 150 shares in the last quarter. Adirondack Trust Co. boosted its stake in shares of CSX by 2.2% during the 1st quarter. Adirondack Trust Co. now owns 6,960 shares of the transportation company’s stock worth $554,000 after acquiring an additional 150 shares in the last quarter. Finally, Mercer Capital Advisers Inc. boosted its stake in shares of CSX by 0.5% during the 1st quarter. Mercer Capital Advisers Inc. now owns 31,619 shares of the transportation company’s stock worth $2,366,000 after acquiring an additional 151 shares in the last quarter. 75.71% of the stock is currently owned by institutional investors.

About CSX

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services, as well as transports intermodal containers and trailers. 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.

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Earnings History and Estimates for CSX (NASDAQ:CSX)

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