Equities Analysts Offer Predictions for CSX Co.’s Q3 2024 Earnings (NASDAQ:CSX)

CSX Co. (NASDAQ:CSX) – Equities researchers at Zacks Research lowered their Q3 2024 earnings estimates for shares of CSX in a research note issued to investors on Monday, August 19th. Zacks Research analyst M. Basu now anticipates that the transportation company will post earnings per share of $0.48 for the quarter, down from their previous forecast of $0.50. The consensus estimate for CSX’s current full-year earnings is $1.94 per share. Zacks Research also issued estimates for CSX’s Q4 2024 earnings at $0.50 EPS, FY2024 earnings at $1.92 EPS, Q4 2025 earnings at $0.57 EPS, Q1 2026 earnings at $0.50 EPS, Q2 2026 earnings at $0.57 EPS and FY2026 earnings at $2.20 EPS.

Several other brokerages have also weighed in on CSX. Stephens reissued an “overweight” rating and issued a $42.00 price objective on shares of CSX in a report on Tuesday, August 6th. Bank of America lowered shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 target price for the company. in a research report on Monday, July 8th. BMO Capital Markets reissued an “outperform” rating and issued a $40.00 price target on shares of CSX in a research report on Tuesday, August 6th. Wells Fargo & Company started coverage on shares of CSX in a research note on Friday, June 7th. They set an “equal weight” rating and a $35.00 price target on the stock. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $36.00 price objective on shares of CSX in a report on Tuesday, August 6th. Seven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.80.

CSX Stock Performance

NASDAQ:CSX opened at $33.79 on Tuesday. CSX has a 1 year low of $29.03 and a 1 year high of $40.12. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.15 and a quick ratio of 1.00. The business has a fifty day simple moving average of $33.68 and a two-hundred day simple moving average of $34.90. The company has a market capitalization of $66.06 billion, a P/E ratio of 18.57, a P/E/G ratio of 1.89 and a beta of 1.20.

CSX (NASDAQ:CSX) last posted its quarterly earnings data on Monday, August 5th. The transportation company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.01. The business had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.70 billion. CSX had a return on equity of 29.58% and a net margin of 24.75%. The business’s revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.49 earnings per share.

CSX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend is Friday, August 30th. CSX’s payout ratio is 26.37%.

Hedge Funds Weigh In On CSX

Institutional investors have recently modified their holdings of the company. Ascent Group LLC lifted its stake in CSX by 559.7% in the first quarter. Ascent Group LLC now owns 58,779 shares of the transportation company’s stock worth $2,179,000 after purchasing an additional 49,869 shares during the last quarter. PFG Advisors boosted its holdings in CSX by 2.1% during the 1st quarter. PFG Advisors now owns 18,880 shares of the transportation company’s stock valued at $700,000 after acquiring an additional 387 shares during the period. Partners Group Holding AG increased its stake in CSX by 26.8% in the 4th quarter. Partners Group Holding AG now owns 704,544 shares of the transportation company’s stock worth $24,427,000 after purchasing an additional 149,105 shares during the period. Public Employees Retirement Association of Colorado lifted its position in CSX by 718.9% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 287,062 shares of the transportation company’s stock valued at $9,952,000 after purchasing an additional 252,006 shares during the last quarter. Finally, Sei Investments Co. boosted its stake in shares of CSX by 4.2% during the first quarter. Sei Investments Co. now owns 597,426 shares of the transportation company’s stock valued at $22,146,000 after purchasing an additional 23,938 shares during the period. 73.57% of the stock is currently owned by institutional investors.

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.