CSX (CSX) Posts Earnings Results, Beats Expectations By $0.11 EPS

CSX (NASDAQ:CSX) posted its quarterly earnings data on Tuesday. The transportation company reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.11, RTT News reports. The business had revenue of $3.01 billion for the quarter, compared to analyst estimates of $3 billion. CSX had a return on equity of 24.18% and a net margin of 27.01%. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.78 earnings per share.

Shares of NASDAQ CSX traded up $0.02 during midday trading on Tuesday, hitting $75.89. The stock had a trading volume of 3,276,565 shares, compared to its average volume of 4,982,093. The firm has a market capitalization of $61.79 billion, a P/E ratio of 19.76, a P/E/G ratio of 1.36 and a beta of 1.29. CSX has a 1-year low of $56.10 and a 1-year high of $77.15. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.34 and a quick ratio of 1.20.

CSX declared that its board has authorized a stock repurchase plan on Wednesday, January 16th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the transportation company to repurchase up to 9.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

A number of analysts recently commented on the company. UBS Group lowered CSX from a “buy” rating to a “neutral” rating and increased their price objective for the company from $75.00 to $80.00 in a research note on Friday, April 5th. BidaskClub lowered CSX from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 5th. Citigroup increased their price objective on CSX from $79.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. SNS Securities lowered CSX from a “positive” rating to a “neutral” rating in a research note on Wednesday, April 3rd. Finally, Susquehanna Bancshares reissued a “neutral” rating on shares of CSX in a research note on Wednesday, April 3rd. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $75.64.

In other news, Director Ridge Lp Mantle sold 1,930,318 shares of CSX stock in a transaction dated Thursday, January 24th. The stock was sold at an average price of $65.01, for a total value of $125,489,973.18. Following the transaction, the director now directly owns 106 shares of the company’s stock, valued at approximately $6,891.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.83% of the company’s stock.

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CSX Company Profile

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 for CSX (NASDAQ:CSX)

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