CSX (NASDAQ:CSX) Posts Quarterly Earnings Results, Misses Expectations By $0.02 EPS

CSX (NASDAQ:CSX) issued its quarterly earnings results on Wednesday. The transportation company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.02), Zacks reports. The firm had revenue of $3.62 billion for the quarter, compared to the consensus estimate of $3.68 billion. CSX had a net margin of 24.52% and a return on equity of 29.11%. The company’s revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.42 earnings per share.

CSX Trading Down 4.8 %

Shares of CSX stock traded down $1.71 on Thursday, hitting $33.76. 3,267,438 shares of the company’s stock traded hands, compared to its average volume of 11,456,123. CSX has a one year low of $29.03 and a one year high of $40.12. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.16 and a quick ratio of 1.01. The stock has a market capitalization of $66.00 billion, a PE ratio of 19.49, a price-to-earnings-growth ratio of 1.90 and a beta of 1.19. The firm’s 50-day moving average price is $34.05 and its two-hundred day moving average price is $33.99.

CSX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date is Friday, November 29th. CSX’s dividend payout ratio is presently 26.37%.

Analyst Ratings Changes

CSX has been the topic of several recent research reports. Loop Capital decreased their price objective on CSX from $43.00 to $42.00 and set a “buy” rating on the stock in a report on Thursday. Barclays decreased their price target on shares of CSX from $41.00 to $40.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 25th. Bank of America cut shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 price objective for the company. in a research note on Monday, July 8th. Benchmark reissued a “buy” rating and issued a $40.00 price target on shares of CSX in a research report on Wednesday, August 7th. Finally, BMO Capital Markets cut their price target on shares of CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a research note on Thursday. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $39.06.

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.