CSX Co. (NASDAQ:CSX) – Equities research analysts at Seaport Global Securities dropped their Q1 2019 earnings estimates for CSX in a report issued on Thursday, March 28th, Zacks Investment Research reports. Seaport Global Securities analyst M. Levin now anticipates that the transportation company will post earnings of $0.91 per share for the quarter, down from their previous estimate of $0.94. Seaport Global Securities also issued estimates for CSX’s Q3 2019 earnings at $1.13 EPS, Q4 2019 earnings at $1.12 EPS and FY2021 earnings at $5.35 EPS.
CSX (NASDAQ:CSX) last announced its earnings results on Tuesday, April 16th. The transportation company reported $1.02 EPS for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.11. CSX had a net margin of 27.84% and a return on equity of 26.13%. The business had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $3 billion. During the same period in the previous year, the company posted $0.78 earnings per share. The firm’s revenue was up 4.8% on a year-over-year basis.
Shares of CSX traded up $0.03 during mid-day trading on Friday, hitting $78.97. 6,296,112 shares of the company traded hands, compared to its average volume of 4,218,038. CSX has a 1-year low of $57.97 and a 1-year high of $80.51. The company has a quick ratio of 1.20, a current ratio of 1.81 and a debt-to-equity ratio of 1.27. The company has a market cap of $63.90 billion, a P/E ratio of 20.57, a price-to-earnings-growth ratio of 1.36 and a beta of 1.29.
CSX declared that its Board of Directors has approved a share repurchase plan on Wednesday, January 16th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the transportation company to repurchase up to 9.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
In other CSX news, Director Ridge Lp Mantle sold 1,930,318 shares of the firm’s stock in a transaction on 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 completion of the sale, the director now directly owns 106 shares of the company’s stock, valued at approximately $6,891.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.83% of the stock is owned by company insiders.
Several large investors have recently modified their holdings of CSX. Virtus ETF Advisers LLC increased its position in shares of CSX by 117.1% during the 4th quarter. Virtus ETF Advisers LLC now owns 445 shares of the transportation company’s stock worth $28,000 after purchasing an additional 240 shares during the last quarter. Larson Financial Group LLC acquired a new stake in shares of CSX during the 4th quarter worth about $28,000. Liberty Wealth Management LLC purchased a new position in CSX during the 4th quarter valued at about $28,000. Karp Capital Management Corp purchased a new position in CSX during the 4th quarter valued at about $30,000. Finally, Highwater Wealth Management LLC purchased a new position in CSX during the 4th quarter valued at about $31,000. 77.36% of the stock is owned by hedge funds and other institutional investors.
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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