CSX Co. to Post Q3 2024 Earnings of $0.50 Per Share, Zacks Research Forecasts (NASDAQ:CSX)

CSX Co. (NASDAQ:CSX - Free Report) - Stock analysts at Zacks Research dropped their Q3 2024 earnings estimates for CSX in a research note issued on Wednesday, May 1st. Zacks Research analyst M. Basu now expects that the transportation company will post earnings per share of $0.50 for the quarter, down from their prior forecast 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.

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

A number of other equities research analysts have also issued reports on the company. Bank of America dropped their target price on CSX from $40.00 to $39.00 and set a "buy" rating on the stock in a research report on Thursday, April 18th. StockNews.com cut shares of CSX from a "buy" rating to a "hold" rating in a report on Wednesday, January 31st. Stifel Nicolaus lifted their price target on shares of CSX from $37.00 to $39.00 and gave the company a "buy" rating in a research note on Friday, April 12th. Royal Bank of Canada reduced their price objective on shares of CSX from $37.00 to $36.00 and set a "sector perform" rating for the company in a research note on Thursday, April 18th. Finally, TD Cowen lifted their target price on CSX from $32.00 to $36.00 and gave the company a "market perform" rating in a research report on Thursday, January 25th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, CSX presently has an average rating of "Moderate Buy" and an average target price of $38.00.

CSX Stock Up 0.8 %

CSX stock traded up $0.28 during trading hours on Friday, reaching $33.85. 6,617,956 shares of the stock were exchanged, compared to its average volume of 12,311,956. The company has a market cap of $66.17 billion, a price-to-earnings ratio of 18.60, a PEG ratio of 1.99 and a beta of 1.19. The firm's 50-day moving average is $36.32 and its 200-day moving average is $34.52. CSX has a 12 month low of $29.03 and a 12 month high of $40.12. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.15 and a quick ratio of 1.00.

Hedge Funds Weigh In On CSX

Several institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank bought a new position in shares of CSX during the fourth quarter worth approximately $757,276,000. Price T Rowe Associates Inc. MD increased its stake in CSX by 18.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 64,807,961 shares of the transportation company's stock worth $2,246,893,000 after acquiring an additional 9,914,656 shares during the period. Capital International Investors raised its holdings in CSX by 14.3% in the 4th quarter. Capital International Investors now owns 40,353,078 shares of the transportation company's stock valued at $1,399,104,000 after acquiring an additional 5,041,679 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in CSX by 416.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 5,070,296 shares of the transportation company's stock valued at $155,912,000 after acquiring an additional 4,089,150 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its position in shares of CSX by 10.4% during the 3rd quarter. Lazard Asset Management LLC now owns 29,191,044 shares of the transportation company's stock valued at $897,624,000 after acquiring an additional 2,748,738 shares during the period. Institutional investors and hedge funds own 73.57% of the company's stock.

CSX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were paid a $0.12 dividend. The ex-dividend date was Wednesday, February 28th. This represents a $0.48 dividend on an annualized basis and a yield of 1.42%. This is a positive change from CSX's previous quarterly dividend of $0.11. CSX's dividend payout ratio is 26.37%.

CSX Company Profile

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.