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

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

CSX Price Performance

CSX traded down $1.71 on Thursday, hitting $33.76. 3,043,252 shares of the company’s stock were exchanged, compared to its average volume of 11,456,123. CSX has a fifty-two week low of $29.03 and a fifty-two week high of $40.12. The company has a current ratio of 1.16, a quick ratio of 1.01 and a debt-to-equity ratio of 1.42. The firm has a 50-day moving average price of $34.05 and a 200-day moving average price of $33.99. The stock has a market cap of $66.00 billion, a price-to-earnings ratio of 18.55, a P/E/G ratio of 1.90 and a beta of 1.19.

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 paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.48 annualized dividend and a yield of 1.42%. CSX’s dividend payout ratio (DPR) is presently 26.37%.

Analyst Ratings Changes

A number of research firms have issued reports on CSX. Bank of America lowered shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a research report on Monday, July 8th. BMO Capital Markets reduced their price target on shares of CSX from $40.00 to $39.00 and set an “outperform” rating for the company in a research report on Thursday. Benchmark reissued a “buy” rating and set a $40.00 price target on shares of CSX in a research report on Wednesday, August 7th. Sanford C. Bernstein lifted their target price on shares of CSX from $35.00 to $36.00 and gave the company a “market perform” rating in a report on Monday, July 8th. Finally, Susquehanna lifted their target price on shares of CSX from $41.00 to $42.00 and gave the company a “positive” rating in a report on Wednesday, October 2nd. Seven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, CSX has an average rating of “Moderate Buy” and a consensus price target of $39.06.

CSX Company Profile

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.