CSX (NASDAQ:CSX) Posts Earnings Results, Beats Expectations By $0.02 EPS

CSX (NASDAQ:CSX – Get Rating) issued its quarterly earnings data on Wednesday. The transportation company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.02, RTT News reports. CSX had a return on equity of 30.32% and a net margin of 28.06%. The company had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter last year, the business posted $0.42 earnings per share. The firm’s revenue was up 8.7% compared to the same quarter last year.

CSX Stock Performance

CSX traded down $0.81 during mid-day trading on Wednesday, reaching $31.05. 22,031,014 shares of the company traded hands, compared to its average volume of 12,439,256. The stock has a market capitalization of $65.28 billion, a P/E ratio of 16.60, a P/E/G ratio of 1.76 and a beta of 1.24. The company has a quick ratio of 1.57, a current ratio of 1.72 and a debt-to-equity ratio of 1.39. The company’s fifty day moving average price is $31.69 and its 200-day moving average price is $30.82. CSX has a 52-week low of $25.80 and a 52-week high of $38.63.

Analysts Set New Price Targets

Several research analysts have recently commented on CSX shares. Robert W. Baird decreased their price objective on CSX to $34.00 in a report on Thursday, October 13th. Wells Fargo & Company raised their target price on CSX from $28.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 4th. UBS Group cut CSX from a “buy” rating to a “neutral” rating and cut their target price for the stock from $38.00 to $31.00 in a research note on Tuesday, September 27th. Credit Suisse Group cut their target price on CSX from $39.00 to $36.00 in a research note on Tuesday, October 11th. Finally, Raymond James lifted their price objective on CSX from $33.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, January 18th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $34.38.

Institutional Investors Weigh In On CSX

A number of hedge funds have recently added to or reduced their stakes in the stock. Advisors Capital Management LLC purchased a new stake in CSX during the 3rd quarter valued at $300,000. Captrust Financial Advisors grew its position in shares of CSX by 16.8% during the 3rd quarter. Captrust Financial Advisors now owns 387,116 shares of the transportation company’s stock valued at $10,313,000 after acquiring an additional 55,790 shares during the period. Balyasny Asset Management LLC grew its position in shares of CSX by 507.5% during the 3rd quarter. Balyasny Asset Management LLC now owns 288,234 shares of the transportation company’s stock valued at $7,678,000 after acquiring an additional 240,789 shares during the period. First Republic Investment Management Inc. grew its position in shares of CSX by 5.2% during the 2nd quarter. First Republic Investment Management Inc. now owns 372,929 shares of the transportation company’s stock valued at $10,837,000 after acquiring an additional 18,342 shares during the period. Finally, AQR Capital Management LLC grew its position in shares of CSX by 60.9% during the 2nd quarter. AQR Capital Management LLC now owns 574,530 shares of the transportation company’s stock valued at $16,518,000 after acquiring an additional 217,347 shares during the period. 72.91% of the stock is currently owned by hedge funds and other institutional investors.

About CSX

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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.