CSX (NASDAQ:CSX) announced its quarterly earnings results on Tuesday. The transportation company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.37 by $0.02, Fidelity Earnings reports. The firm had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.94 billion. CSX had a return on equity of 21.42% and a net margin of 25.62%. The business's revenue for the quarter was up 32.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.22 earnings per share.
CSX stock opened at $32.72 on Thursday. The company has a debt-to-equity ratio of 1.24, a current ratio of 2.39 and a quick ratio of 2.23. CSX has a 52 week low of $22.69 and a 52 week high of $34.96. The firm has a market capitalization of $74.35 billion, a P/E ratio of 26.83, a price-to-earnings-growth ratio of 1.98 and a beta of 1.16. The business's 50-day moving average price is $33.69.
The company also recently announced a dividend, which was paid on Monday, June 28th. Investors of record on Wednesday, June 30th were issued a dividend of $0.0933 per share. This represents a dividend yield of 1.16%. The ex-dividend date of this dividend was Tuesday, June 29th. CSX's dividend payout ratio (DPR) is 30.33%.
In related news, Director David M. Moffett sold 5,819 shares of CSX stock in a transaction dated Monday, May 3rd. The stock was sold at an average price of $101.93, for a total transaction of $593,130.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark Kenneth Wallace sold 47,966 shares of CSX stock in a transaction that occurred on Monday, May 10th. The shares were sold at an average price of $104.38, for a total value of $5,006,691.08. Following the transaction, the executive vice president now owns 110,876 shares of the company's stock, valued at $11,573,236.88. The disclosure for this sale can be found here. Insiders have sold 1,996,015 shares of company stock valued at $201,411,409 in the last ninety days. Corporate insiders own 0.60% of the company's stock.
Several research firms have issued reports on CSX. BMO Capital Markets upgraded CSX from a "market perform" rating to an "outperform" rating and lifted their target price for the company from $31.67 to $36.67 in a research note on Wednesday, April 21st. Vertical Research began coverage on CSX in a research note on Friday, March 26th. They issued a "hold" rating on the stock. Atlantic Securities began coverage on CSX in a research note on Monday, July 12th. They issued an "overweight" rating and a $40.00 target price on the stock. Citigroup upgraded CSX from a "neutral" rating to a "buy" rating in a research note on Tuesday, June 29th. Finally, Stifel Nicolaus began coverage on CSX in a research note on Monday, June 21st. They issued a "hold" rating on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eighteen have given a buy rating to the stock. The company presently has a consensus rating of "Buy" and a consensus price target of $33.36.
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 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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