Zacks: Brokerages Expect CSX Co. (CSX) to Post $0.92 EPS

Analysts expect CSX Co. (NASDAQ:CSX) to post $0.92 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for CSX’s earnings. The highest EPS estimate is $0.98 and the lowest is $0.86. CSX reported earnings of $0.78 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 17.9%. The company is expected to announce its next quarterly earnings results on Tuesday, April 16th.

On average, analysts expect that CSX will report full-year earnings of $4.22 per share for the current year, with EPS estimates ranging from $4.07 to $4.35. For the next fiscal year, analysts anticipate that the business will post earnings of $4.71 per share, with EPS estimates ranging from $4.41 to $4.89. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that follow CSX.

CSX (NASDAQ:CSX) last issued its quarterly earnings results on Wednesday, January 16th. The transportation company reported $1.01 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.01. The firm had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $3.12 billion. CSX had a net margin of 27.01% and a return on equity of 24.18%. CSX’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.64 EPS.

A number of brokerages recently weighed in on CSX. Morgan Stanley increased their price target on shares of CSX from $52.00 to $55.00 and gave the stock a “sell” rating in a research note on Tuesday, October 9th. Stephens reiterated a “buy” rating and set a $85.00 price target on shares of CSX in a research note on Tuesday, October 9th. BidaskClub upgraded shares of CSX from a “hold” rating to a “buy” rating in a research note on Saturday, October 6th. Deutsche Bank increased their price target on shares of CSX from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, December 3rd. Finally, Royal Bank of Canada reiterated an “outperform” rating on shares of CSX in a research note on Wednesday, October 17th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $75.93.

In other news, Director Ridge Lp Mantle sold 1,930,318 shares of the stock in a transaction dated Thursday, January 24th. The shares were sold at an average price of $65.01, for a total value of $125,489,973.18. Following the completion of the transaction, the director now owns 106 shares in the company, valued at approximately $6,891.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.03% of the company’s stock.

A number of large investors have recently bought and sold shares of CSX. Capital World Investors increased its holdings in CSX by 1,080.6% during the 3rd quarter. Capital World Investors now owns 29,751,204 shares of the transportation company’s stock valued at $2,203,077,000 after acquiring an additional 27,231,204 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of CSX by 33.7% during the 3rd quarter. Janus Henderson Group PLC now owns 12,600,194 shares of the transportation company’s stock worth $933,045,000 after purchasing an additional 3,178,806 shares during the last quarter. Morgan Stanley boosted its stake in shares of CSX by 38.8% during the 3rd quarter. Morgan Stanley now owns 8,803,609 shares of the transportation company’s stock worth $651,908,000 after purchasing an additional 2,462,931 shares during the last quarter. Prudential Financial Inc. boosted its stake in shares of CSX by 121.4% during the 3rd quarter. Prudential Financial Inc. now owns 3,532,885 shares of the transportation company’s stock worth $261,611,000 after purchasing an additional 1,937,350 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in shares of CSX by 123.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,505,665 shares of the transportation company’s stock worth $185,545,000 after purchasing an additional 1,384,533 shares during the last quarter. Hedge funds and other institutional investors own 75.14% of the company’s stock.

NASDAQ:CSX traded up $0.50 during trading hours on Friday, reaching $66.20. 4,329,593 shares of the company’s stock were exchanged, compared to its average volume of 5,607,401. The stock has a market cap of $55.48 billion, a P/E ratio of 17.24, a P/E/G ratio of 1.16 and a beta of 1.25. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.34 and a quick ratio of 1.29. CSX has a 1-year low of $48.43 and a 1-year high of $76.24.

CSX declared that its Board of Directors has initiated a share buyback plan on Wednesday, January 16th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the transportation company to reacquire up to 9.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

About CSX

CSX Corporation, together with its subsidiaries, provides rail-based transportation services in the United States and Canada. The company offers rail services, as well as transports intermodal containers and trailers. It transports agricultural and food products, fertilizers, chemicals, automotive, metals and equipment, minerals, and forest products; 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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