Trade Report: The CSX Corp. (CSX) Issues Quarterly Earnings Results, Beats Expectations By $0.03 EPS

The CSX Corp. (CSX) Issues Quarterly  Earnings Results, Beats Expectations By $0.03 EPS

CSX Corp. (NASDAQ:CSX) announced its quarterly earnings results on Wednesday. The company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.03. The business had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.69 billion. CSX Corp. had a net margin of 16.07% and a return on equity of 15.24%. The company’s revenue was down 7.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.52 EPS.

Shares of CSX Corp. (NASDAQ:CSX) opened at 30.21 on Thursday. The company’s 50-day moving average is $29.34 and its 200 day moving average is $27.40. CSX Corp. has a 12 month low of $21.33 and a 12 month high of $31.31. The company has a market capitalization of $28.58 billion, a price-to-earnings ratio of 16.49 and a beta of 1.23.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Wednesday, November 30th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, November 28th. This represents a $0.72 annualized dividend and a yield of 2.38%. CSX Corp.’s dividend payout ratio (DPR) is 39.13%.

In other CSX Corp. news, President Clarence W. Gooden sold 17,332 shares of the firm’s stock in a transaction on Monday, September 26th. The stock was sold at an average price of $29.44, for a total value of $510,254.08. Following the transaction, the president now owns 127,954 shares in the company, valued at approximately $3,766,965.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Clarence W. Gooden sold 16,129 shares of the firm’s stock in a transaction on Thursday, October 6th. The shares were sold at an average price of $31.00, for a total value of $499,999.00. Following the completion of the transaction, the president now owns 127,954 shares in the company, valued at approximately $3,966,574. The disclosure for this sale can be found here. 0.36% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Philadelphia Trust Co. raised its position in shares of CSX Corp. by 1.2% in the second quarter. Philadelphia Trust Co. now owns 12,942 shares of the company’s stock worth $338,000 after buying an additional 150 shares during the last quarter. SOUTH STATE Corp raised its position in CSX Corp. by 1.7% in the second quarter. SOUTH STATE Corp now owns 16,666 shares of the company’s stock valued at $435,000 after buying an additional 286 shares in the last quarter. Pacer Advisors Inc. raised its position in CSX Corp. by 1.2% in the second quarter. Pacer Advisors Inc. now owns 29,337 shares of the company’s stock valued at $765,000 after buying an additional 336 shares in the last quarter. Ameritas Investment Partners Inc. raised its position in CSX Corp. by 1.3% in the second quarter. Ameritas Investment Partners Inc. now owns 35,397 shares of the company’s stock valued at $923,000 after buying an additional 469 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC raised its position in CSX Corp. by 2.2% in the second quarter. Silvercrest Asset Management Group LLC now owns 43,908 shares of the company’s stock valued at $1,145,000 after buying an additional 935 shares in the last quarter. Institutional investors own 68.55% of the company’s stock.

A number of brokerages have issued reports on CSX. Oppenheimer Holdings Inc. reissued a “hold” rating on shares of CSX Corp. in a report on Sunday, July 17th. Cowen and Company reaffirmed a “hold” rating on shares of CSX Corp. in a research report on Sunday, July 17th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $32.00 target price (up from $29.00) on shares of CSX Corp. in a research report on Friday, July 15th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $29.00 target price (up from $27.00) on shares of CSX Corp. in a research report on Friday, July 15th. Finally, Argus reaffirmed a “buy” rating and issued a $35.00 target price on shares of CSX Corp. in a research report on Friday, July 15th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and thirteen have given a buy rating to the company. CSX Corp. presently has an average rating of “Hold” and an average target price of $29.54.

CSX Corp. Company Profile

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