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

CSX (NASDAQ:CSX) released its earnings results 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. CSX had a return on equity of 30.52% and a net margin of 25.35%. The firm had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.66 billion. During the same quarter in the prior year, the firm posted $0.48 earnings per share. The company’s quarterly revenue was down .8% on a year-over-year basis.

CSX Trading Down 2.0 %

CSX opened at $34.16 on Thursday. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.05 and a quick ratio of 0.91. The company’s 50 day simple moving average is $36.98 and its two-hundred day simple moving average is $34.32. CSX has a 1-year low of $29.03 and a 1-year high of $40.12. The firm has a market capitalization of $66.87 billion, a price-to-earnings ratio of 18.57, a price-to-earnings-growth ratio of 2.01 and a beta of 1.18.

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.41%. This is a positive change from CSX’s previous quarterly dividend of $0.11. The ex-dividend date was Wednesday, February 28th. CSX’s dividend payout ratio (DPR) is 26.09%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CSX. West Tower Group LLC purchased a new position in CSX in the 4th quarter worth approximately $26,000. Fortis Capital Advisors LLC purchased a new stake in shares of CSX during the 4th quarter valued at approximately $27,000. Cornerstone Planning Group LLC purchased a new stake in shares of CSX during the 2nd quarter valued at approximately $41,000. True Wealth Design LLC purchased a new stake in shares of CSX during the 4th quarter valued at approximately $42,000. Finally, Milestone Investment Advisors LLC purchased a new stake in shares of CSX during the 1st quarter valued at approximately $71,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Benchmark increased their price objective on CSX from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. JPMorgan Chase & Co. dropped their price objective on CSX from $40.00 to $39.00 and set an “overweight” rating on the stock in a research note on Thursday, December 21st. Susquehanna upped their target price on CSX from $42.00 to $44.00 and gave the stock a “positive” rating in a report on Thursday, March 28th. TD Cowen increased their price objective on CSX from $32.00 to $36.00 and gave the company a “market perform” rating in a report on Thursday, January 25th. Finally, Jefferies Financial Group assumed coverage on CSX in a report on Monday, April 8th. They set a “hold” rating and a $40.00 price objective for the company. Five investment 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, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.33.

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 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.