Wall Street analysts expect CSX Co. (NASDAQ:CSX) to announce sales of $2.96 billion for the current quarter, according to Zacks. Seven analysts have made estimates for CSX’s earnings. The highest sales estimate is $2.98 billion and the lowest is $2.94 billion. CSX reported sales of $2.74 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 8%. The business is expected to announce its next quarterly earnings report on Tuesday, October 16th.

On average, analysts expect that CSX will report full-year sales of $11.99 billion for the current fiscal year, with estimates ranging from $11.90 billion to $12.05 billion. For the next fiscal year, analysts forecast that the company will report sales of $12.41 billion per share, with estimates ranging from $12.15 billion to $12.68 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for CSX.

CSX (NASDAQ:CSX) last released its earnings results on Tuesday, July 17th. The transportation company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.15. The business had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3 billion. CSX had a net margin of 53.27% and a return on equity of 19.31%. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.64 EPS.

CSX has been the subject of a number of recent analyst reports. Royal Bank of Canada increased their target price on shares of CSX from $71.00 to $75.00 and gave the company an “outperform” rating in a research report on Wednesday, July 18th. Scotiabank set a $72.00 target price on shares of CSX and gave the company a “hold” rating in a research report on Wednesday, July 18th. TD Securities increased their target price on shares of CSX from $68.00 to $71.00 and gave the company a “$69.00” rating in a research report on Wednesday, July 18th. Stifel Nicolaus increased their target price on shares of CSX from $74.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, July 18th. Finally, Morgan Stanley increased their target price on shares of CSX from $49.00 to $52.00 and gave the company a “sell” rating in a research report on Wednesday, July 18th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $69.45.

Institutional investors have recently bought and sold shares of the business. IMS Capital Management bought a new position in shares of CSX in the 2nd quarter worth $124,000. Archford Capital Strategies LLC bought a new position in shares of CSX in the 1st quarter worth $109,000. Kaizen Advisory LLC lifted its holdings in shares of CSX by 150.5% in the 2nd quarter. Kaizen Advisory LLC now owns 2,164 shares of the transportation company’s stock worth $138,000 after purchasing an additional 1,300 shares in the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. bought a new position in shares of CSX in the 1st quarter worth $123,000. Finally, Sun Life Financial INC lifted its holdings in shares of CSX by 950.0% in the 2nd quarter. Sun Life Financial INC now owns 2,373 shares of the transportation company’s stock worth $151,000 after purchasing an additional 2,147 shares in the last quarter. Hedge funds and other institutional investors own 76.86% of the company’s stock.

NASDAQ:CSX opened at $73.69 on Friday. The company has a market cap of $62.17 billion, a price-to-earnings ratio of 32.04, a PEG ratio of 1.52 and a beta of 1.22. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.66 and a quick ratio of 1.48. CSX has a fifty-two week low of $48.11 and a fifty-two week high of $74.10.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 14th. Shareholders of record on Friday, August 31st will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date is Thursday, August 30th. CSX’s payout ratio is 38.26%.

About CSX

CSX Corporation, together with its subsidiaries, provides rail-based transportation services in the United States and Canada. The company offers rail services, as well as transports intermodal containers and trailers. It transports agricultural and food products, fertilizers, chemicals, automotive, metals and equipment, minerals, and forest products; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.

Further Reading: Find a Trading Strategy That Works

Get a free copy of the Zacks research report on CSX (CSX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for CSX (NASDAQ:CSX)

Receive News & Ratings for CSX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CSX and related companies with MarketBeat.com's FREE daily email newsletter.