CSX Corporation Company Profile (NASDAQ:CSX)

CSX Corporation trades on the NASDAQ under the ticker symbol "CSX."

CSX Corporation declared a quarterly dividend on Friday, July 7th. Stockholders of record on Thursday, August 31st will be paid a dividend of $0.20 per share on Friday, September 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date of this dividend is Tuesday, August 29th. View CSX Corporation's Dividend History.

CSX Corporation announced that its Board of Directors has authorized a stock buyback plan on Wednesday, July 19th 2017, which authorizes the company to buyback $500,000,000.00 in outstanding shares, according to EventVestor. This buyback authorization authorizes the company to reacquire up to 1% of its shares through open market purchases. Shares buyback plans are often an indication that the company's leadership believes its shares are undervalued.

CSX Corporation (NASDAQ:CSX) announced its earnings results on Tuesday, July, 18th. The company reported $0.64 earnings per share for the quarter, topping the Thomson Reuters' consensus estimate of $0.59 by $0.05. The business had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.85 billion. CSX Corporation had a return on equity of 16.93% and a net margin of 15.46%. The business's quarterly revenue was up 8.5% on a year-over-year basis. During the same period last year, the company posted $0.47 EPS. View CSX Corporation's Earnings History.

CSX Corporation is scheduled to release their next quarterly earnings announcement on Tuesday, October, 10th 2017. View Earnings Estimates for CSX Corporation.

CSX Corporation updated its FY17 earnings guidance on Tuesday, July, 18th. The company provided earnings per share guidance of +25% to ~$2.26 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.30.

27 brokers have issued 1-year price targets for CSX Corporation's shares. Their predictions range from $31.00 to $65.00. On average, they expect CSX Corporation's share price to reach $53.78 in the next year. View Analyst Ratings for CSX Corporation.

Here are some recent quotes from research analysts about CSX Corporation stock:

• 1. According to Zacks Investment Research, "Shares of CSX Corporation have performed well in the last one year, gaining 82%. The company has outperformed the industry it belongs to as well as fellow railroad operator Union Pacific in the period. While, the industry witnessed a gain of 28%, Union Pacific shares have rallied 17%. Ushering in further good news, CSX reported better-than-expected earnings per share and revenues in the second quarter of 2017. The company witnessed growth across nearly all markets, which can be attributed to coal-related gains, strength in core pricing and volume across markets, and increased fuel recovery. In fact, its efforts to control costs also raise optimism in the stock. However, the company’s third-quarter outlook on its automotive unit raises concerns. Going forward, sluggish auto production is likely to hurt results. The weak crude oil scenario is also remains a major concern." (7/21/2017)
• 2. TD Securities analysts commented, "We believe CSX is poised for a period of accelerated earnings growth under Mr. Harrison, which will likely attract a premium valuation multiple. While the trajectory of the coal business is a risk to our thesis, we note that our forecast does not factor in the potential for substantial U.S." (4/21/2017)
• 3. Stifel Nicolaus analysts commented, "Hunter Harrison is in as CEO of CSX effective immediately. We expect that this is a commitment to significant OR improvement over the coming investment horizon. Hunter is quoted as saying the team will implement Precision Scheduled Railroading, a technique used to great success at CP in recent years. This comes shortly after CSX announced a commitment for $160 million in management head count reduction." (3/7/2017)
• 4. Cowen and Company analysts commented, "In a much expected announcement CSX Corporation named Hunter Harrison as Chief Executive Officer, replacing the retiring Michael Ward who will remain as a consultant. The company also reached an agreement with activist investor Mantle Ridge which gives them five new seats (including Mr. Harrison and Mantle Ridge founder Paul Hilal) on Board of Directors. With three incumbent board members announcing their intent to resign their positions at the end of the year, the board will have 13 members now with current director Edward Kelly III becoming Chairman and Paul Hilal Vice Chairman... While CSX was already in the process of laying off/cutting 1,000 people from its management ranks we fully expect that Mr. Harrison will push that number higher and also cut into the rank and file headcount by reducing/combing yards and shops. It is also expected that the company will now focus on faster growing areas of its network, which could lead to some shedding of lines. Mr. Harrison's proverbial playbook of cutting 'fat' and running a scheduled railroad may not seem complicated but his methods are time tested and we fully expect him to easily exceed the company's previous long term OR target of 65% over the next few years. Our previous estimates are currently under review." (3/7/2017)
• 5. Deutsche Bank AG analysts commented, "Mantle Ridge will receive about 40% of total board seats, equating to 5 appointees (including Hilal and Hunter) out of 13 total seats, which gives effect for former CEO Mike Ward's retirement and roll-off of 3 incumbent board members at the next annual general meeting sometime in the next 3 months (chairman of audit and finance committees and one regular board member). There does not appear to be any standstill agreement, which likely allows Mantle Ridge to continue pressing for change if need be. Interestingly, CSX has not agreed to Hunter Harrison's make-whole payment, choosing instead of put it up for shareholder vote at the annual general meeting, which we think should easily pass (we believe Hunter Harrison has an effective insurance policy on this payment with Mantle Ridge, creating some risk if shareholders don't agree, though we think there is very little probability of that happening)." (3/7/2017)

CSX Corporation saw a drop in short interest during the month of July. As of July 14th, there was short interest totalling 19,255,571 shares, a drop of 9.1% from the June 30th total of 21,181,042 shares. Based on an average daily volume of 4,178,364 shares, the days-to-cover ratio is presently 4.6 days. Approximately 2.2% of the company's shares are short sold.

Some companies that are related to CSX Corporation include Union Pacific Corporation (UNP), Canadian National Railway Company (CNI), Norfolk Souther Corporation (NSC), Canadian Pacific Railway Limited (CP), Kansas City Southern (KSU), C.H. Robinson Worldwide (CHRW), Amerco (UHAL), XPO Logistics (XPO), Genesee & Wyoming (GWR), Schneider National (SNDR), Ryder System (R), Swift Transportation Company (SWFT), Hub Group (HUBG), Northgate plc (NTG), ArcBest Corporation (ARCB), Clipper Logistics PLC (CLG), YRC Worldwide (YRCW) and Wincanton plc (WIN).

CSX Corporation's management team includes the folowing people:

• Edward J. Kelly III J.D., Independent Chairman of the Board
• E. Hunter Harrison, President, Chief Executive Officer, Director
• Cressie D. Brown, Chief Executive Officer, Senior Vice President
• Paul C. Hilal, Vice Chairman of the Board
• Frank A. Lonegro, Chief Financial Officer, Executive Vice President
• Fredrik J. Eliasson, Executive Vice President, Chief Sales and Marketing Officer
• Ellen M. Fitzsimmons, Executive Vice President - Law & Public Affairs, General Counsel, Corporate Secretary
• Kathleen Brandt, Senior Vice President, Chief Information Officer
• Andrew L. Glassman, Vice President - Strategy, Controller
• Ricky Johnson, Vice President - Engineering

CSX Corporation's stock is owned by a variety of of institutional and retail investors. Top institutional investors include Russell Investments Group Ltd. (0.15%), PGGM Investments (0.06%), State Treasurer State of Michigan (0.03%), Gulf International Bank UK Ltd (0.03%), Highland Capital Management LLC (0.03%) and Exxonmobil Investment Management Inc. TX (0.02%). Company insiders that own CSX Corporation stock include Clarence W Gooden, David M Ratcliffe, E Hunter Harrison, Michael J Ward and Ridge Lp Mantle. View Institutional Ownership Trends for CSX Corporation.

CSX Corporation's stock was sold by a variety of institutional investors in the last quarter, including PGGM Investments, Russell Investments Group Ltd., Highland Capital Management LLC, Exxonmobil Investment Management Inc. TX, Orrstown Financial Services Inc., City Holding Co., Park National Corp OH and Gulf International Bank UK Ltd. Company insiders that have sold CSX Corporation stock in the last year include Clarence W Gooden and Michael J Ward. View Insider Buying and Selling for CSX Corporation.

CSX Corporation's stock was purchased by a variety of institutional investors in the last quarter, including Oakbrook Investments LLC, Cypress Capital Management LLC WY, Xact Kapitalforvaltning AB, Augustine Asset Management Inc., First Financial Bank Trust Division, Bridges Investment Counsel Inc., Gradient Investments LLC and Reilly Financial Advisors LLC. Company insiders that have bought CSX Corporation stock in the last two years include David M Ratcliffe, E Hunter Harrison and Ridge Lp Mantle. View Insider Buying and Selling for CSX Corporation.

Shares of CSX Corporation can be purchased through any online brokerage account. Popular online brokerages include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.

One share of CSX Corporation stock can currently be purchased for approximately $51.56.