CSX (NASDAQ:CSX) Announces Quarterly Earnings Results

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

Shares of CSX traded up $1.48 during mid-day trading on Thursday, reaching $33.05. 227,625 shares of the company’s stock were exchanged, compared to its average volume of 12,206,381. 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 market cap of $75.10 billion, a PE ratio of 26.83, a PEG ratio of 1.98 and a beta of 1.16. The stock’s fifty day simple moving average is $33.69. CSX has a 52-week low of $22.69 and a 52-week high of $34.96.

The business also recently disclosed a dividend, which was paid on Monday, June 28th. Shareholders of record on Wednesday, June 30th were issued a dividend of $0.0933 per share. The ex-dividend date was Tuesday, June 29th. This represents a yield of 1.16%. CSX’s payout ratio is currently 30.33%.

In related news, Director Paul C. Hilal sold 500,000 shares of CSX stock in a transaction on Friday, April 30th. The shares were sold at an average price of $100.40, for a total value of $50,200,000.00. Following the transaction, the director now directly owns 12,399 shares in the company, valued at approximately $1,244,859.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Paul C. Hilal sold 1,411,705 shares of CSX 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 completion of the transaction, the director now owns 12,399 shares in the company, valued at $1,251,431.07. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,996,015 shares of company stock worth $201,411,409. Insiders own 0.60% of the company’s stock.

Several research firms have weighed in on CSX. TD Securities raised shares of CSX from a “hold” rating to a “buy” rating and boosted their target price for the stock from $36.00 to $38.00 in a research report on Thursday. Vertical Research began coverage on shares of CSX in a report on Friday, March 26th. They issued a “hold” rating on the stock. Raymond James upped their price objective on shares of CSX from $33.33 to $35.00 and gave the company an “outperform” rating in a report on Thursday, April 15th. Credit Suisse Group upped their price objective on shares of CSX from $38.00 to $39.00 and gave the company an “outperform” rating in a report on Thursday. Finally, BMO Capital Markets upgraded shares of CSX from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $31.67 to $36.67 in a research note on Wednesday, April 21st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eighteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $33.36.

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 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.

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Earnings History for CSX (NASDAQ:CSX)

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