Seaport Global Securities Weighs in on CSX Co.’s Q1 2018 Earnings (CSX)
CSX Co. (NASDAQ:CSX) – Equities research analysts at Seaport Global Securities issued their Q1 2018 EPS estimates for CSX in a research report issued on Wednesday. Seaport Global Securities analyst M. Levin expects that the transportation company will post earnings per share of $0.70 for the quarter. Seaport Global Securities also issued estimates for CSX’s Q2 2018 earnings at $0.83 EPS, Q3 2018 earnings at $0.74 EPS and Q4 2018 earnings at $0.82 EPS.
Several other research firms have also recently issued reports on CSX. BidaskClub raised shares of CSX from a “hold” rating to a “buy” rating in a report on Wednesday, January 10th. Robert W. Baird reaffirmed a “buy” rating and issued a $59.00 price target on shares of CSX in a report on Tuesday, January 9th. Royal Bank of Canada upped their price target on shares of CSX from $59.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday, January 9th. They noted that the move was a valuation call. Scotiabank cut shares of CSX from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $63.00 to $43.00 in a report on Friday, January 12th. Finally, Morgan Stanley set a $51.00 price target on shares of CSX and gave the company a “sell” rating in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $60.22.
CSX (NASDAQ:CSX) last posted its earnings results on Tuesday, January 16th. The transportation company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.08. The business had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.89 billion. CSX had a net margin of 47.96% and a return on equity of 18.41%. The business’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.49 earnings per share.
CSX declared that its Board of Directors has initiated a share buyback plan on Wednesday, October 25th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the transportation company to reacquire shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
In other CSX news, Director Gary Keith Anderson bought 5,000 shares of the stock in a transaction on Friday, November 24th. The stock was purchased at an average price of $2,300.00 per share, for a total transaction of $11,500,000.00. 4.79% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. First Command Financial Services Inc. grew its position in shares of CSX by 130.0% during the fourth quarter. First Command Financial Services Inc. now owns 2,123 shares of the transportation company’s stock worth $117,000 after acquiring an additional 1,200 shares during the last quarter. Valeo Financial Advisors LLC bought a new position in shares of CSX during the third quarter worth about $196,000. Laurel Wealth Advisors Inc. bought a new position in shares of CSX during the second quarter worth about $226,000. Americafirst Capital Management LLC bought a new position in shares of CSX during the third quarter worth about $308,000. Finally, Sterling Capital Management LLC grew its position in CSX by 32.0% in the 3rd quarter. Sterling Capital Management LLC now owns 5,876 shares of the transportation company’s stock valued at $319,000 after buying an additional 1,423 shares in the last quarter. Institutional investors and hedge funds own 70.17% of the company’s stock.
CSX Company Profile
CSX Corporation is a transportation company. The Company provides rail-based freight transportation services, including traditional rail service and transport of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations.
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