CSX Corporation (CSX) Expected to Announce Quarterly Sales of $2.91 Billion
Brokerages expect that CSX Corporation (NASDAQ:CSX) will report $2.91 billion in sales for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for CSX Corporation’s earnings, with the lowest sales estimate coming in at $2.84 billion and the highest estimate coming in at $3.07 billion. CSX Corporation reported sales of $3.04 billion during the same quarter last year, which would indicate a negative year over year growth rate of 4.3%. The business is expected to announce its next earnings report on Tuesday, January 16th.
According to Zacks, analysts expect that CSX Corporation will report full-year sales of $2.91 billion for the current year, with estimates ranging from $11.33 billion to $11.61 billion. For the next financial year, analysts anticipate that the firm will report sales of $11.79 billion per share, with estimates ranging from $11.54 billion to $12.11 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover CSX Corporation.
CSX Corporation (NASDAQ:CSX) last released its earnings results on Tuesday, October 17th. The transportation company reported $0.51 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.51. The business had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.77 billion. CSX Corporation had a net margin of 15.45% and a return on equity of 17.28%. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.48 earnings per share.
A number of analysts have recently issued reports on CSX shares. BMO Capital Markets reiterated a “buy” rating on shares of CSX Corporation in a research note on Wednesday, August 30th. Credit Suisse Group dropped their price objective on shares of CSX Corporation from $61.00 to $60.00 and set an “outperform” rating for the company in a research note on Thursday, September 7th. Zacks Investment Research cut shares of CSX Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, September 26th. Royal Bank Of Canada dropped their price objective on shares of CSX Corporation from $65.00 to $64.00 and set an “outperform” rating for the company in a research note on Thursday, September 7th. Finally, BidaskClub cut shares of CSX Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, August 19th. Three 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. CSX Corporation currently has a consensus rating of “Hold” and an average price target of $56.95.
CSX Corporation (NASDAQ CSX) opened at $49.75 on Tuesday. CSX Corporation has a 12-month low of $33.79 and a 12-month high of $55.48. The company has a market cap of $44,757.65, a PE ratio of 23.29, a PEG ratio of 1.54 and a beta of 1.33. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.05 and a quick ratio of 0.86.
CSX Corporation declared that its Board of Directors has initiated a share buyback program on Tuesday, July 18th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the transportation company to reacquire up to 1% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be given a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.61%. CSX Corporation’s dividend payout ratio (DPR) is currently 41.24%.
Several institutional investors have recently added to or reduced their stakes in the stock. Gradient Investments LLC raised its holdings in CSX Corporation by 38.1% during the second quarter. Gradient Investments LLC now owns 1,954 shares of the transportation company’s stock worth $107,000 after buying an additional 539 shares during the last quarter. Parallel Advisors LLC raised its holdings in CSX Corporation by 14.9% during the second quarter. Parallel Advisors LLC now owns 2,194 shares of the transportation company’s stock worth $108,000 after buying an additional 285 shares during the last quarter. Reilly Financial Advisors LLC grew its stake in shares of CSX Corporation by 33.1% in the 2nd quarter. Reilly Financial Advisors LLC now owns 2,012 shares of the transportation company’s stock worth $110,000 after acquiring an additional 500 shares in the last quarter. Keel Point LLC bought a new stake in shares of CSX Corporation in the 1st quarter worth $207,000. Finally, ARGI Investment Services LLC bought a new stake in shares of CSX Corporation in the 2nd quarter worth $208,000. Institutional investors own 70.59% of the company’s stock.
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CSX Corporation 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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