CSX Corp. (CSX) to Release Quarterly Earnings on Thursday
CSX Corp. (NASDAQ:CSX) is set to announce its Q316 earnings results on Thursday, October 13th. Analysts expect the company to announce earnings of $0.45 per share and revenue of $2.70 billion for the quarter. Investors that wish to register for the company’s conference call can do so using this link.
CSX Corp. (NASDAQ:CSX) last issued its quarterly earnings data on Wednesday, July 13th. The company reported $0.47 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.03. CSX Corp. had a return on equity of 15.24% and a net margin of 16.07%. The company earned $2.70 billion during the quarter, compared to analyst estimates of $2.69 billion. During the same quarter in the previous year, the company posted $0.56 earnings per share. CSX Corp.’s revenue was down 11.7% compared to the same quarter last year. On average, analysts expect CSX Corp. to post $1.75 EPS for the current fiscal year and $1.93 EPS for the next fiscal year.
Shares of CSX Corp. (NASDAQ:CSX) opened at 30.47 on Wednesday. The company has a market cap of $28.82 billion, a price-to-earnings ratio of 16.63 and a beta of 1.23. CSX Corp. has a one year low of $21.33 and a one year high of $31.31. The company has a 50 day moving average price of $29.29 and a 200 day moving average price of $27.38.
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The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Wednesday, November 30th will be issued a dividend of $0.18 per share. The ex-dividend date is Monday, November 28th. This represents a $0.72 annualized dividend and a dividend yield of 2.36%. CSX Corp.’s dividend payout ratio is presently 39.13%.
CSX has been the subject of several analyst reports. Citigroup Inc. increased their price objective on CSX Corp. from $29.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, September 13th. BMO Capital Markets reiterated an “outperform” rating and set a $29.00 price objective on shares of CSX Corp. in a report on Thursday, July 7th. Bank of America Corp. reiterated a “buy” rating and set a $32.00 price objective on shares of CSX Corp. in a report on Monday, September 12th. Loop Capital reiterated a “hold” rating and set a $31.00 price objective on shares of CSX Corp. in a report on Thursday, September 1st. Finally, Wolfe Research upgraded CSX Corp. from a “market perform” rating to an “outperform” rating and set a $35.00 price objective for the company in a report on Tuesday, September 13th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and thirteen have issued a buy rating to the company’s stock. CSX Corp. currently has an average rating of “Hold” and an average target price of $29.54.
In other CSX Corp. news, President Clarence W. Gooden sold 17,332 shares of the firm’s stock in a transaction that occurred on Monday, September 26th. The shares were sold at an average price of $29.44, for a total value of $510,254.08. Following the transaction, the president now directly owns 127,954 shares of the company’s stock, valued at approximately $3,766,965.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.36% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in CSX. Connors Investor Services Inc. raised its stake in CSX Corp. by 1.5% in the second quarter. Connors Investor Services Inc. now owns 276,912 shares of the company’s stock valued at $7,222,000 after buying an additional 4,046 shares during the last quarter. Gideon Capital Advisors Inc. raised its stake in CSX Corp. by 170.3% in the second quarter. Gideon Capital Advisors Inc. now owns 49,475 shares of the company’s stock valued at $1,290,000 after buying an additional 31,173 shares during the last quarter. Franklin Resources Inc. raised its stake in CSX Corp. by 17.3% in the second quarter. Franklin Resources Inc. now owns 83,730 shares of the company’s stock valued at $2,184,000 after buying an additional 12,374 shares during the last quarter. Public Sector Pension Investment Board raised its stake in CSX Corp. by 16.2% in the second quarter. Public Sector Pension Investment Board now owns 181,242 shares of the company’s stock valued at $4,727,000 after buying an additional 25,300 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in CSX Corp. by 3.8% in the second quarter. Canada Pension Plan Investment Board now owns 525,700 shares of the company’s stock valued at $13,710,000 after buying an additional 19,400 shares during the last quarter. 68.55% of the stock is currently owned by hedge funds and other institutional investors.
CSX Corp. Company Profile
CSX Corporation, together with its subsidiaries, is a transportation company. The Company provides rail-based transportation services, including rail service and the transport of intermodal containers and trailers. The Company serves three lines of business, such as merchandise business, coal business and intermodal business.
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