CSX (NASDAQ:CSX) Posts Quarterly Earnings Results, Misses Estimates By $0.02 EPS

CSX (NASDAQ:CSX) announced its quarterly earnings data on Wednesday. The transportation company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.02), Zacks reports. The firm had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.68 billion. CSX had a return on equity of 29.11% and a net margin of 24.52%. The company’s revenue was up 1.3% compared to the same quarter last year. During the same period last year, the business posted $0.42 EPS.

CSX Stock Up 2.7 %

CSX stock traded up $0.90 on Friday, reaching $33.99. 6,563,690 shares of the company traded hands, compared to its average volume of 11,557,866. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.16 and a quick ratio of 1.01. The firm has a fifty day simple moving average of $34.02 and a 200-day simple moving average of $33.99. CSX has a one year low of $29.03 and a one year high of $40.12. The company has a market cap of $66.45 billion, a P/E ratio of 18.18, a price-to-earnings-growth ratio of 1.90 and a beta of 1.19.

CSX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a $0.12 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.48 annualized dividend and a dividend yield of 1.41%. CSX’s payout ratio is currently 26.37%.

Analyst Ratings Changes

A number of brokerages recently commented on CSX. Susquehanna dropped their price target on shares of CSX from $42.00 to $40.00 and set a “positive” rating on the stock in a research note on Thursday. JPMorgan Chase & Co. upped their price target on CSX from $39.00 to $42.00 and gave the company an “overweight” rating in a research report on Tuesday, August 6th. Loop Capital reduced their target price on CSX from $43.00 to $42.00 and set a “buy” rating on the stock in a research note on Thursday. BMO Capital Markets cut their price objective on CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a report on Thursday. Finally, Bank of America cut CSX from a “buy” rating to a “neutral” rating and set a $37.00 price objective on the stock. in a report on Monday, July 8th. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.61.

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.