Zacks: Analysts Expect CSX Co. (NASDAQ:CSX) Will Post Quarterly Sales of $3.29 Billion

Equities analysts expect CSX Co. (NASDAQ:CSXGet Rating) to report sales of $3.29 billion for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for CSX’s earnings. The highest sales estimate is $3.31 billion and the lowest is $3.27 billion. CSX posted sales of $2.81 billion in the same quarter last year, which indicates a positive year over year growth rate of 17.1%. The business is scheduled to announce its next quarterly earnings report after the market closes on Monday, January 1st.

On average, analysts expect that CSX will report full-year sales of $13.89 billion for the current year, with estimates ranging from $13.62 billion to $14.15 billion. For the next fiscal year, analysts forecast that the firm will post sales of $14.30 billion, with estimates ranging from $13.69 billion to $14.95 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for CSX.

CSX (NASDAQ:CSXGet Rating) last released its quarterly earnings results on Wednesday, April 20th. The transportation company reported $0.39 EPS for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.02. CSX had a net margin of 30.19% and a return on equity of 26.34%. The business had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.31 billion. During the same quarter in the previous year, the company earned $0.31 EPS. The business’s quarterly revenue was up 21.3% compared to the same quarter last year.

CSX has been the subject of a number of recent research reports. Citigroup boosted their price objective on shares of CSX from $42.00 to $45.00 in a report on Wednesday, January 5th. Wolfe Research lowered their price objective on shares of CSX from $41.00 to $40.00 and set an “outperform” rating for the company in a report on Friday, January 21st. StockNews.com initiated coverage on shares of CSX in a report on Thursday, March 31st. They issued a “hold” rating for the company. TD Securities lowered shares of CSX from a “buy” rating to a “hold” rating and lowered their price target for the company from $41.00 to $38.00 in a report on Monday. Finally, Cowen upped their price target on shares of CSX from $35.00 to $38.00 and gave the company a “market perform” rating in a report on Friday, January 21st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, CSX currently has an average rating of “Buy” and an average price target of $38.71.

Shares of CSX opened at $35.30 on Thursday. The firm has a market cap of $76.90 billion, a price-to-earnings ratio of 21.01, a PEG ratio of 2.03 and a beta of 1.23. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.58 and a current ratio of 1.73. CSX has a fifty-two week low of $29.49 and a fifty-two week high of $38.63. The firm has a 50 day moving average price of $35.28 and a 200-day moving average price of $35.34.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 15th. Stockholders of record on Monday, February 28th were given a $0.10 dividend. The ex-dividend date was Friday, February 25th. This is an increase from CSX’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.13%. CSX’s dividend payout ratio is currently 23.81%.

Several large investors have recently added to or reduced their stakes in CSX. Norges Bank purchased a new stake in CSX during the 4th quarter valued at about $732,770,000. Capital World Investors grew its position in CSX by 4.4% during the 4th quarter. Capital World Investors now owns 184,488,460 shares of the transportation company’s stock valued at $6,936,719,000 after purchasing an additional 7,841,524 shares during the last quarter. Soroban Capital Partners LP lifted its stake in CSX by 22.8% during the 3rd quarter. Soroban Capital Partners LP now owns 39,572,504 shares of the transportation company’s stock valued at $1,176,886,000 after acquiring an additional 7,338,924 shares during the period. BlackRock Inc. lifted its stake in CSX by 3.5% during the 4th quarter. BlackRock Inc. now owns 151,615,861 shares of the transportation company’s stock valued at $5,700,758,000 after acquiring an additional 5,149,812 shares during the period. Finally, Capital Wealth Planning LLC lifted its stake in CSX by 16,210.9% during the 3rd quarter. Capital Wealth Planning LLC now owns 3,574,539 shares of the transportation company’s stock valued at $106,307,000 after acquiring an additional 3,552,624 shares during the period. 73.22% of the stock is currently owned by hedge funds and other institutional investors.

About CSX (Get Rating)

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 transports chemicals, agricultural and food products, automotive, minerals, 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.

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