CSX (NASDAQ:CSX) Issues Earnings Results

CSX (NASDAQ:CSX) issued its quarterly earnings data on Wednesday. The transportation company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01, Briefing.com reports. CSX had a net margin of 24.75% and a return on equity of 29.88%. The business had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.66 billion. During the same period in the previous year, the business earned $0.48 earnings per share. The company’s revenue was down .8% on a year-over-year basis.

CSX Stock Down 0.1 %

Shares of CSX stock traded down $0.03 during trading on Friday, hitting $34.36. 2,772,952 shares of the stock traded hands, compared to its average volume of 11,979,290. The stock has a market cap of $67.26 billion, a P/E ratio of 18.90, a PEG ratio of 1.97 and a beta of 1.18. The company has a debt-to-equity ratio of 1.48, a quick ratio of 0.91 and a current ratio of 1.05. CSX has a twelve month low of $29.03 and a twelve month high of $40.12. The company has a fifty day moving average price of $36.93 and a two-hundred day moving average price of $34.32.

CSX Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This is a positive change from CSX’s previous quarterly dividend of $0.11. This represents a $0.48 dividend on an annualized basis and a yield of 1.40%. CSX’s dividend payout ratio (DPR) is presently 26.37%.

Institutional Investors Weigh In On CSX

Several institutional investors have recently made changes to their positions in the company. Soroban Capital Partners LP lifted its holdings in shares of CSX by 0.8% during the 4th quarter. Soroban Capital Partners LP now owns 58,100,864 shares of the transportation company’s stock valued at $1,799,965,000 after buying an additional 470,000 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of CSX by 1.8% during the 1st quarter. Geode Capital Management LLC now owns 39,236,265 shares of the transportation company’s stock valued at $1,172,727,000 after buying an additional 690,267 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of CSX by 26.2% during the 4th quarter. Legal & General Group Plc now owns 23,385,735 shares of the transportation company’s stock valued at $810,784,000 after buying an additional 4,850,783 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its holdings in shares of CSX by 101,926.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 23,323,241 shares of the transportation company’s stock valued at $722,554,000 after buying an additional 23,300,381 shares during the last quarter. Finally, Royal Bank of Canada lifted its holdings in shares of CSX by 6.9% during the 4th quarter. Royal Bank of Canada now owns 22,965,374 shares of the transportation company’s stock valued at $796,208,000 after buying an additional 1,477,816 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CSX has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. cut their price objective on shares of CSX from $40.00 to $39.00 and set an “overweight” rating on the stock in a research note on Thursday, December 21st. Stifel Nicolaus lifted their target price on CSX from $37.00 to $39.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Raymond James lifted their target price on CSX from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Tuesday, January 16th. StockNews.com lowered CSX from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Finally, UBS Group lowered their target price on CSX from $46.00 to $44.00 and set a “buy” rating on the stock in a report on Thursday. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $37.72.

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.