FY2019 Earnings Estimate for CSX Co. (NASDAQ:CSX) Issued By Seaport Global Securities

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CSX Co. (NASDAQ:CSX) – Research analysts at Seaport Global Securities raised their FY2019 earnings per share estimates for shares of CSX in a research report issued on Thursday, October 17th. Seaport Global Securities analyst M. Levin now expects that the transportation company will earn $4.18 per share for the year, up from their previous estimate of $4.12.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Wednesday, October 16th. The transportation company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.06. The firm had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $2.98 billion. CSX had a net margin of 27.91% and a return on equity of 27.67%. The firm’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.05 EPS.

Several other analysts have also issued reports on CSX. Argus set a $82.00 price objective on shares of CSX and gave the company a “buy” rating in a report on Friday. Stephens downgraded CSX from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $86.00 to $79.00 in a research report on Wednesday, July 17th. Credit Suisse Group boosted their price objective on CSX from $79.00 to $82.00 and gave the stock an “outperform” rating in a research report on Thursday. Barclays reissued a “buy” rating and set a $85.00 price objective on shares of CSX in a research report on Thursday, October 3rd. Finally, JPMorgan Chase & Co. downgraded CSX from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $83.00 to $76.00 in a report on Friday, October 4th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $78.21.

Shares of CSX stock opened at $68.67 on Monday. The stock’s fifty day moving average is $68.56 and its two-hundred day moving average is $73.04. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.44 and a current ratio of 1.41. The firm has a market capitalization of $55.70 billion, a P/E ratio of 17.88, a PEG ratio of 1.30 and a beta of 1.24. CSX has a fifty-two week low of $58.47 and a fifty-two week high of $80.73.

A number of institutional investors have recently bought and sold shares of the business. Coastal Investment Advisors Inc. raised its holdings in shares of CSX by 159.5% in the 3rd quarter. Coastal Investment Advisors Inc. now owns 7,718 shares of the transportation company’s stock worth $535,000 after purchasing an additional 4,744 shares during the period. Heritage Investors Management Corp raised its holdings in shares of CSX by 1.1% in the 3rd quarter. Heritage Investors Management Corp now owns 221,062 shares of the transportation company’s stock worth $15,313,000 after purchasing an additional 2,493 shares during the period. Park Avenue Securities LLC purchased a new position in shares of CSX in the 3rd quarter worth about $272,000. First Citizens Bank & Trust Co. purchased a new position in shares of CSX in the 3rd quarter worth about $211,000. Finally, Cohen Klingenstein LLC purchased a new position in shares of CSX in the 3rd quarter worth about $935,000. 75.74% of the stock is currently owned by institutional investors.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.40%. The ex-dividend date is Wednesday, November 27th. CSX’s dividend payout ratio (DPR) is 25.00%.

About CSX

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services, as well as transports intermodal containers and trailers. It transports chemicals, automotive, agricultural and food products, minerals, fertilizers, forest products, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.

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Earnings History and Estimates for CSX (NASDAQ:CSX)

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