Zacks Research Weighs in on CSX Co.’s Q3 2024 Earnings (NASDAQ:CSX)

CSX Co. (NASDAQ:CSX) – Investment analysts at Zacks Research reduced their Q3 2024 EPS estimates for shares of CSX in a note issued to investors on Wednesday, May 1st. Zacks Research analyst M. Basu now anticipates that the transportation company will earn $0.50 per share for the quarter, down from their prior estimate of $0.51. The consensus estimate for CSX’s current full-year earnings is $1.95 per share. Zacks Research also issued estimates for CSX’s Q1 2025 earnings at $0.49 EPS, Q2 2025 earnings at $0.52 EPS, Q3 2025 earnings at $0.55 EPS and Q1 2026 earnings at $0.44 EPS.

A number of other equities research analysts have also recently issued reports on CSX. TD Cowen boosted their target price on shares of CSX from $32.00 to $36.00 and gave the company a “market perform” rating in a research report on Thursday, January 25th. BMO Capital Markets boosted their price objective on shares of CSX from $37.00 to $38.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Jefferies Financial Group lowered their target price on shares of CSX from $40.00 to $38.00 and set a “hold” rating on the stock in a report on Thursday, April 18th. StockNews.com cut CSX from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Finally, Royal Bank of Canada reduced their price target on CSX from $37.00 to $36.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 18th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, CSX has an average rating of “Moderate Buy” and an average target price of $38.00.

CSX Stock Performance

CSX opened at $33.85 on Friday. 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 $36.32 and a 200 day simple moving average of $34.52. CSX has a 1 year low of $29.03 and a 1 year high of $40.12. The company has a market capitalization of $66.17 billion, a PE ratio of 18.60, a price-to-earnings-growth ratio of 1.99 and a beta of 1.19.

CSX (NASDAQ:CSX) last posted its earnings results on Wednesday, April 17th. The transportation company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.45 by $0.01. The company had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.66 billion. CSX had a return on equity of 29.58% and a net margin of 24.75%. The firm’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.48 earnings per share.

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were paid a dividend of $0.12 per share. This is an increase from CSX’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.48 annualized dividend and a yield of 1.42%. CSX’s payout ratio is presently 26.37%.

Hedge Funds Weigh In On CSX

A number of institutional investors have recently added to or reduced their stakes in the stock. Fortitude Family Office LLC bought a new stake in shares of CSX during the fourth quarter worth $27,000. Life Planning Partners Inc bought a new position in shares of CSX in the 4th quarter valued at $27,000. Financial Synergies Wealth Advisors Inc. acquired a new stake in shares of CSX during the 1st quarter valued at $29,000. Venturi Wealth Management LLC grew its position in CSX by 228.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 995 shares of the transportation company’s stock worth $31,000 after acquiring an additional 692 shares during the last quarter. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in CSX in the 4th quarter worth about $34,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

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.