Analysts Anticipate CSX Co. (NASDAQ:CSX) Will Post Quarterly Sales of $3.00 Billion

Analysts expect that CSX Co. (NASDAQ:CSX) will post sales of $3.00 billion for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for CSX’s earnings, with estimates ranging from $2.98 billion to $3.01 billion. CSX reported sales of $3.13 billion in the same quarter last year, which would suggest a negative year over year growth rate of 4.2%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, October 15th.

According to Zacks, analysts expect that CSX will report full year sales of $12.10 billion for the current financial year, with estimates ranging from $12.05 billion to $12.16 billion. For the next fiscal year, analysts expect that the firm will report sales of $12.44 billion, with estimates ranging from $12.31 billion to $12.58 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for CSX.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Tuesday, July 16th. The transportation company reported $1.08 EPS for the quarter, missing the consensus estimate of $1.11 by ($0.03). The company had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.14 billion. CSX had a net margin of 27.87% and a return on equity of 26.96%. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.01 EPS.

Several research firms have recently commented on CSX. Deutsche Bank cut their price objective on CSX from $89.00 to $87.00 and set a “buy” rating for the company in a report on Wednesday, June 12th. Loop Capital downgraded CSX from a “buy” rating to a “hold” rating and cut their price objective for the company from $85.00 to $81.00 in a report on Wednesday, July 10th. Cowen reissued a “market perform” rating and issued a $78.00 price objective (down previously from $80.00) on shares of CSX in a report on Wednesday, July 17th. Raymond James cut their price objective on CSX from $84.00 to $81.00 and set an “outperform” rating for the company in a report on Wednesday, July 17th. Finally, BidaskClub raised CSX from a “sell” rating to a “hold” rating in a report on Thursday, September 12th. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and seven have given a buy rating to the company. CSX currently has an average rating of “Hold” and a consensus price target of $77.87.

Shares of NASDAQ CSX traded down $0.36 during trading hours on Thursday, hitting $70.79. The company had a trading volume of 2,105,241 shares, compared to its average volume of 4,870,128. The stock has a market capitalization of $57.78 billion, a P/E ratio of 18.43, a price-to-earnings-growth ratio of 1.35 and a beta of 1.23. The company has a quick ratio of 1.44, a current ratio of 1.55 and a debt-to-equity ratio of 1.26. CSX has a 1-year low of $58.47 and a 1-year high of $80.73. The firm’s 50 day moving average is $67.24 and its 200-day moving average is $73.72.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.36%. The ex-dividend date was Thursday, August 29th. CSX’s payout ratio is 25.00%.

Hedge funds have recently bought and sold shares of the business. Krane Funds Advisors LLC bought a new position in CSX during the 2nd quarter worth $25,000. SRS Capital Advisors Inc. bought a new position in CSX during the 2nd quarter worth $32,000. Kavar Capital Partners LLC bought a new position in CSX during the 2nd quarter worth $35,000. FNY Investment Advisers LLC bought a new position in CSX during the 2nd quarter worth $36,000. Finally, IMA Wealth Inc. bought a new position in CSX during the 1st quarter worth $35,000. Hedge funds and other institutional investors own 75.72% of the company’s stock.

About CSX

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services, as well as transports intermodal containers and trailers. It transports chemicals, automotive, agricultural and food products, minerals, fertilizers, forest products, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.

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Earnings History and Estimates for CSX (NASDAQ:CSX)

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