FY2018 EPS Estimates for CSX Co. Lifted by Analyst (CSX)

CSX Co. (NASDAQ:CSX) – Analysts at Seaport Global Securities boosted their FY2018 earnings per share (EPS) estimates for shares of CSX in a research note issued to investors on Wednesday. Seaport Global Securities analyst M. Levin now expects that the transportation company will post earnings per share of $3.10 for the year, up from their prior forecast of $2.70. Seaport Global Securities also issued estimates for CSX’s FY2019 earnings at $3.60 EPS and FY2020 earnings at $4.20 EPS.

CSX (NASDAQ:CSX) last announced its earnings results on Tuesday, January 16th. The transportation company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.08. CSX had a return on equity of 17.16% and a net margin of 47.96%. The company had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.89 billion. During the same period last year, the business posted $0.49 EPS. CSX’s revenue for the quarter was down 5.7% on a year-over-year basis.

Other equities analysts have also recently issued research reports about the company. Morgan Stanley set a $51.00 price objective on CSX and gave the company a “sell” rating in a research note on Wednesday. Cowen reiterated a “market perform” rating and issued a $61.00 price objective (up previously from $54.00) on shares of CSX in a research note on Wednesday. UBS Group decreased their price objective on CSX from $74.00 to $72.00 and set a “buy” rating for the company in a research note on Wednesday. Citigroup reiterated a “buy” rating and issued a $64.00 price objective on shares of CSX in a research note on Wednesday. Finally, TD Securities lifted their price objective on CSX from $60.00 to $62.00 and gave the company a “hold” rating in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $60.38.

Shares of CSX (NASDAQ:CSX) traded up $0.36 during trading on Friday, reaching $58.05. The company had a trading volume of 6,911,300 shares, compared to its average volume of 6,886,992. CSX has a 12 month low of $42.66 and a 12 month high of $60.04. The stock has a market cap of $51,380.00, a PE ratio of 9.56, a price-to-earnings-growth ratio of 1.50 and a beta of 1.35. The company has a quick ratio of 0.86, a current ratio of 1.01 and a debt-to-equity ratio of 0.80.

CSX declared that its board has approved a stock repurchase program on Wednesday, October 25th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the transportation company to buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

In other CSX news, Director Gary Keith Anderson bought 5,000 shares of the firm’s stock in a transaction that occurred 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.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue increased its position in CSX by 531.2% during the fourth quarter. State of Alaska Department of Revenue now owns 100,147 shares of the transportation company’s stock worth $5,507,000 after buying an additional 84,280 shares during the period. BKD Wealth Advisors LLC increased its position in CSX by 5.1% during the fourth quarter. BKD Wealth Advisors LLC now owns 50,908 shares of the transportation company’s stock worth $2,800,000 after buying an additional 2,467 shares during the period. Butensky & Cohen Financial Security Inc. increased its position in CSX by 8.4% during the fourth quarter. Butensky & Cohen Financial Security Inc. now owns 20,227 shares of the transportation company’s stock worth $1,113,000 after buying an additional 1,575 shares during the period. Fox Run Management L.L.C. acquired a new position in CSX during the fourth quarter worth approximately $600,000. Finally, Schwab Charles Investment Management Inc. increased its position in CSX by 0.4% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 3,179,120 shares of the transportation company’s stock worth $174,884,000 after buying an additional 12,684 shares during the period. 70.17% of the stock is currently owned by institutional investors.

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About CSX

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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