Zacks: Analysts Expect CSX Corporation (CSX) to Post $0.58 EPS

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%.

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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.

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