Brokerages predict that CSX Corporation (NASDAQ:CSX) will report earnings of $0.58 per share for the current quarter, according to Zacks Investment Research. Eight analysts have made estimates for CSX Corporation’s earnings. The highest EPS estimate is $0.60 and the lowest is $0.53. CSX Corporation reported earnings of $0.47 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 23.4%. The business is scheduled to issue its next earnings report after the market closes on Tuesday, July 18th.
According to Zacks, analysts expect that CSX Corporation will report full-year earnings of $2.30 per share for the current fiscal year, with EPS estimates ranging from $2.25 to $2.45. For the next year, analysts expect that the firm will post earnings of $2.74 per share, with EPS estimates ranging from $2.56 to $3.29. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that follow CSX Corporation.
CSX Corporation (NASDAQ:CSX) last posted its quarterly earnings results on Wednesday, April 19th. The transportation company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.08. The firm had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.76 billion. CSX Corporation had a net margin of 15.19% and a return on equity of 15.67%. CSX Corporation’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.37 earnings per share.
A number of analysts have recently issued reports on the stock. Avondale Partners upgraded shares of CSX Corporation from a “market perform” rating to a “market outperform” rating in a research note on Tuesday, March 28th. Wells Fargo & Company assumed coverage on shares of CSX Corporation in a research note on Monday, March 13th. They set an “outperform” rating on the stock. Credit Suisse Group reiterated an “outperform” rating and set a $54.00 price objective (up previously from $41.00) on shares of CSX Corporation in a research note on Monday, March 6th. Bank of America Corporation reiterated a “buy” rating and set a $65.00 price objective (up previously from $56.00) on shares of CSX Corporation in a research note on Tuesday, June 6th. Finally, Stifel Nicolaus lifted their price objective on shares of CSX Corporation from $33.00 to $47.00 and gave the company a “positive” rating in a research note on Tuesday, March 7th. Eleven research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $52.06.
CSX Corporation (CSX) traded down 0.13% during trading on Monday, reaching $54.49. 3,472,485 shares of the company were exchanged. The firm has a market capitalization of $50.28 billion, a PE ratio of 29.74 and a beta of 1.32. The stock has a 50 day moving average price of $52.87 and a 200 day moving average price of $47.32. CSX Corporation has a 12 month low of $25.33 and a 12 month high of $55.06.
The company also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Wednesday, May 31st were issued a dividend of $0.20 per share. This is an increase from CSX Corporation’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Friday, May 26th. This represents a $0.80 annualized dividend and a dividend yield of 1.47%. CSX Corporation’s payout ratio is 43.72%.
ILLEGAL ACTIVITY NOTICE: This story was originally posted by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are accessing this story on another publication, it was illegally stolen and republished in violation of U.S. and international copyright legislation. The correct version of this story can be read at https://www.chaffeybreeze.com/2017/07/28/zacks-analysts-expect-csx-corporation-csx-to-post-0-58-eps-updated-updated-updated.html.
In other news, CEO E Hunter Harrison purchased 300,000 shares of CSX Corporation stock in a transaction dated Monday, April 24th. The stock was bought at an average price of $50.20 per share, with a total value of $15,060,000.00. Following the completion of the acquisition, the chief executive officer now owns 300,000 shares in the company, valued at approximately $15,060,000. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 4.79% of the company’s stock.
Several institutional investors have recently made changes to their positions in CSX. Trust Co increased its position in shares of CSX Corporation by 2.0% in the fourth quarter. Trust Co now owns 24,070 shares of the transportation company’s stock valued at $865,000 after buying an additional 470 shares during the period. Chevy Chase Trust Holdings Inc. increased its position in shares of CSX Corporation by 1.9% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 847,232 shares of the transportation company’s stock valued at $39,439,000 after buying an additional 16,167 shares during the period. Philadelphia Trust Co. increased its position in shares of CSX Corporation by 2.2% in the fourth quarter. Philadelphia Trust Co. now owns 14,089 shares of the transportation company’s stock valued at $506,000 after buying an additional 300 shares during the period. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of CSX Corporation during the fourth quarter valued at about $1,090,000. Finally, Kentucky Retirement Systems purchased a new position in shares of CSX Corporation during the fourth quarter valued at about $2,442,000. 69.31% of the stock is owned by institutional investors.
CSX Corporation Company Profile
CSX Corporation is a transportation company. The Company provides rail-based freight transportation services, including traditional rail service and transport of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for CSX Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CSX Corporation and related companies with MarketBeat.com's FREE daily email newsletter.