CSX (NASDAQ:CSX) Announces Earnings Results

CSX (NASDAQ:CSX) issued its quarterly earnings results on Tuesday. The transportation company reported $0.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.02, Fidelity Earnings reports. CSX had a return on equity of 21.42% and a net margin of 25.62%. The firm had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.94 billion. During the same period last year, the business posted $0.22 EPS. The business’s revenue was up 32.6% compared to the same quarter last year.

CSX stock traded up $1.48 during mid-day trading on Thursday, reaching $33.05. The company’s stock had a trading volume of 227,625 shares, compared to its average volume of 12,206,381. CSX has a 12-month low of $22.69 and a 12-month high of $34.96. The firm has a market cap of $75.10 billion, a P/E ratio of 26.83, a P/E/G ratio of 1.98 and a beta of 1.16. The company has a quick ratio of 2.23, a current ratio of 2.39 and a debt-to-equity ratio of 1.24. The stock has a fifty day moving average of $33.69.

The business also recently declared a dividend, which was paid on Monday, June 28th. Investors of record on Wednesday, June 30th were issued a $0.0933 dividend. The ex-dividend date of this dividend was Tuesday, June 29th. This represents a dividend yield of 1.16%. CSX’s dividend payout ratio (DPR) is presently 30.33%.

In related news, EVP Mark Kenneth Wallace sold 47,966 shares of CSX stock in a transaction that occurred on Monday, May 10th. The shares were sold at an average price of $104.38, for a total value of $5,006,691.08. Following the completion of the transaction, the executive vice president now directly owns 110,876 shares in the company, valued at approximately $11,573,236.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Paul C. Hilal sold 1,411,705 shares of the business’s stock in a transaction on Wednesday, April 28th. The shares were sold at an average price of $100.93, for a total transaction of $142,483,385.65. Following the transaction, the director now owns 12,399 shares of the company’s stock, valued at $1,251,431.07. The disclosure for this sale can be found here. Insiders sold a total of 1,996,015 shares of company stock valued at $201,411,409 over the last quarter. 0.60% of the stock is owned by company insiders.

A number of analysts have weighed in on the company. Royal Bank of Canada increased their price target on CSX from $36.00 to $37.00 and gave the stock an “outperform” rating in a report on Thursday. Atlantic Securities initiated coverage on CSX in a research note on Monday, July 12th. They issued an “overweight” rating and a $40.00 target price for the company. Vertical Research initiated coverage on CSX in a research note on Friday, March 26th. They issued a “hold” rating for the company. UBS Group raised their target price on CSX from $37.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday. Finally, TD Securities upgraded CSX from a “hold” rating to a “buy” rating and raised their target price for the company from $36.00 to $38.00 in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eighteen have issued a buy rating to the company. CSX presently has a consensus rating of “Buy” and a consensus price target of $33.36.

About CSX

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 transports chemicals, agricultural and food products, automotive, minerals, 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.

Featured Article: Penny Stocks, What You Need To Know

Earnings History 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.