CSX Co. (NASDAQ:CSX) – Equities research analysts at Seaport Global Securities upped their FY2018 EPS estimates for CSX in a research report issued on Wednesday, October 17th, Zacks Investment Research reports. Seaport Global Securities analyst M. Levin now expects that the transportation company will post earnings per share of $3.86 for the year, up from their previous forecast of $3.65. Seaport Global Securities also issued estimates for CSX’s Q4 2018 earnings at $1.02 EPS and FY2019 earnings at $4.25 EPS.
Other equities analysts also recently issued research reports about the company. Scotiabank set a $72.00 price target on CSX and gave the company a “hold” rating in a report on Wednesday, July 18th. Stifel Nicolaus increased their price target on CSX from $74.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, July 18th. BidaskClub upgraded shares of CSX from a “hold” rating to a “buy” rating in a research note on Wednesday, August 15th. Raymond James raised their price objective on shares of CSX from $70.00 to $75.00 and gave the stock a “$69.00” rating in a research note on Wednesday, July 18th. Finally, Cowen restated a “$69.00” rating and issued a $74.00 price objective on shares of CSX in a research note on Wednesday, July 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $77.60.
CSX (NASDAQ:CSX) last issued its quarterly earnings data on Tuesday, October 16th. The transportation company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.11. CSX had a net margin of 55.19% and a return on equity of 21.38%. The firm had revenue of $3.13 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same quarter last year, the firm earned $0.51 earnings per share. The company’s revenue for the quarter was up 14.1% on a year-over-year basis.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 30th will be given a $0.22 dividend. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.88 annualized dividend and a yield of 1.25%. CSX’s dividend payout ratio (DPR) is currently 38.26%.
A number of hedge funds have recently modified their holdings of the stock. Janus Henderson Group PLC lifted its position in CSX by 33.7% in the third quarter. Janus Henderson Group PLC now owns 12,600,194 shares of the transportation company’s stock worth $933,045,000 after purchasing an additional 3,178,806 shares during the period. Bank of New York Mellon Corp lifted its position in CSX by 2.1% in the third quarter. Bank of New York Mellon Corp now owns 9,482,962 shares of the transportation company’s stock worth $702,214,000 after purchasing an additional 193,133 shares during the period. Egerton Capital UK LLP bought a new position in CSX in the second quarter worth $440,710,000. Standard Life Aberdeen plc lifted its position in CSX by 4.9% in the second quarter. Standard Life Aberdeen plc now owns 6,502,962 shares of the transportation company’s stock worth $414,760,000 after purchasing an additional 301,707 shares during the period. Finally, Morgan Stanley lifted its position in CSX by 13.6% in the second quarter. Morgan Stanley now owns 6,340,678 shares of the transportation company’s stock worth $404,409,000 after purchasing an additional 757,521 shares during the period. 76.20% of the stock is owned by hedge funds and other institutional investors.
CSX Company Profile
CSX Corporation, together with its subsidiaries, provides rail-based transportation services in the United States and Canada. The company offers rail services, as well as transports intermodal containers and trailers. It transports agricultural and food products, fertilizers, chemicals, automotive, metals and equipment, minerals, and forest products; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants.
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