Zacks: Analysts Anticipate CSX Co. (CSX) Will Announce Quarterly Sales of $2.86 Billion

Wall Street brokerages forecast that CSX Co. (NASDAQ:CSX) will report $2.86 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for CSX’s earnings, with the lowest sales estimate coming in at $2.82 billion and the highest estimate coming in at $2.90 billion. CSX posted sales of $2.87 billion in the same quarter last year, which suggests a negative year over year growth rate of 0.3%. The company is expected to issue its next quarterly earnings results on Wednesday, April 18th.

According to Zacks, analysts expect that CSX will report full-year sales of $2.86 billion for the current fiscal year, with estimates ranging from $11.52 billion to $12.11 billion. For the next fiscal year, analysts forecast that the firm will report sales of $11.98 billion per share, with estimates ranging from $11.87 billion to $12.10 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover CSX.

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

A number of analysts have weighed in on the stock. Zacks Investment Research upgraded shares of CSX from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. Scotiabank set a $63.00 price target on shares of CSX and gave the company a “hold” rating in a research note on Wednesday, January 17th. TD Securities raised their price target on shares of CSX from $60.00 to $62.00 and gave the company a “hold” rating in a research note on Wednesday, January 17th. Argus raised their price target on shares of CSX from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, January 18th. Finally, Citigroup reaffirmed a “buy” rating and set a $64.00 price target on shares of CSX in a research note on Wednesday, January 17th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $60.38.

Shares of CSX (NASDAQ:CSX) opened at $57.73 on Tuesday. CSX has a 52-week low of $44.56 and a 52-week high of $60.04. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.01 and a quick ratio of 0.86. The firm has a market cap of $51,380.14, a P/E ratio of 9.51, a price-to-earnings-growth ratio of 1.41 and a beta of 1.35.

CSX declared that its Board of Directors has initiated a share repurchase plan on Wednesday, October 25th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the transportation company to repurchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

In other CSX news, Director Gary Keith Anderson acquired 5,000 shares of CSX stock in a transaction dated Friday, November 24th. The stock was purchased at an average cost of $2,300.00 per share, for a total transaction of $11,500,000.00. 4.79% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. First Command Financial Services Inc. raised its position in CSX by 130.0% in 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 period. Valeo Financial Advisors LLC bought a new stake in CSX in the third quarter worth about $196,000. Laurel Wealth Advisors Inc. bought a new stake in CSX in the second quarter worth about $226,000. Americafirst Capital Management LLC bought a new stake in CSX in the third quarter worth about $308,000. Finally, Sterling Capital Management LLC raised its position in CSX by 32.0% in the third quarter. Sterling Capital Management LLC now owns 5,876 shares of the transportation company’s stock worth $319,000 after acquiring an additional 1,423 shares during the period. Institutional investors and hedge funds own 70.03% of the company’s stock.

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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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