$3.14 Billion in Sales Expected for CSX Co. (CSX) This Quarter

Brokerages forecast that CSX Co. (NASDAQ:CSX) will report $3.14 billion in sales for the current fiscal quarter, according to Zacks. Seven analysts have made estimates for CSX’s earnings, with the highest sales estimate coming in at $3.21 billion and the lowest estimate coming in at $3.10 billion. CSX posted sales of $2.86 billion in the same quarter last year, which would indicate a positive year over year growth rate of 9.8%. The business is expected to issue its next earnings results on Tuesday, January 15th.

On average, analysts expect that CSX will report full year sales of $12.25 billion for the current fiscal year, with estimates ranging from $12.20 billion to $12.31 billion. For the next year, analysts forecast that the business will report sales of $12.73 billion, with estimates ranging from $12.50 billion to $13.02 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover CSX.

CSX (NASDAQ:CSX) last issued its quarterly earnings data on Tuesday, October 16th. The transportation company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.11. CSX had a return on equity of 21.38% and a net margin of 55.19%. The business had revenue of $3.13 billion during the quarter, compared to analyst estimates of $3.05 billion. During the same period in the prior year, the company posted $0.51 EPS. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year.

CSX has been the subject of a number of recent analyst reports. ValuEngine raised CSX from a “hold” rating to a “buy” rating in a report on Monday, July 2nd. Morgan Stanley upped their target price on CSX from $52.00 to $55.00 and gave the stock a “sell” rating in a research report on Tuesday, October 9th. Royal Bank of Canada upped their target price on CSX from $71.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 18th. Bank of America upped their target price on CSX from $77.00 to $82.00 and gave the stock a “buy” rating in a research report on Monday, October 1st. Finally, BidaskClub upgraded CSX from a “hold” rating to a “buy” rating in a research report on Saturday, October 6th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $77.60.

Large investors have recently made changes to their positions in the company. Acropolis Investment Management LLC acquired a new stake in shares of CSX during the 3rd quarter valued at $107,000. LeJeune Puetz Investment Counsel LLC acquired a new stake in shares of CSX during the 3rd quarter valued at $112,000. IMS Capital Management acquired a new stake in shares of CSX during the 2nd quarter valued at $124,000. Strategic Wealth Partners Ltd. acquired a new stake in shares of CSX during the 2nd quarter valued at $128,000. Finally, Delta Asset Management LLC TN acquired a new stake in shares of CSX during the 3rd quarter valued at $148,000. Institutional investors own 76.09% of the company’s stock.

Shares of CSX stock opened at $65.69 on Thursday. CSX has a 12-month low of $48.26 and a 12-month high of $76.24. The company has a market capitalization of $55.66 billion, a P/E ratio of 18.94, a price-to-earnings-growth ratio of 1.30 and a beta of 1.24. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.43 and a quick ratio of 1.29.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 30th will be given a $0.22 dividend. The ex-dividend date is Thursday, November 29th. This represents a $0.88 dividend on an annualized basis and a yield of 1.34%. CSX’s dividend payout ratio (DPR) is 38.26%.

About CSX

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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