Zacks Research Issues Pessimistic Estimate for CSX Earnings

CSX Co. (NASDAQ:CSX) – Equities researchers at Zacks Research cut their FY2024 earnings per share estimates for shares of CSX in a report issued on Tuesday, October 29th. Zacks Research analyst M. Basu now expects that the transportation company will earn $1.85 per share for the year, down from their prior estimate of $1.92. The consensus estimate for CSX’s current full-year earnings is $1.86 per share. Zacks Research also issued estimates for CSX’s Q4 2024 earnings at $0.45 EPS, Q1 2025 earnings at $0.47 EPS, Q3 2025 earnings at $0.52 EPS, FY2025 earnings at $2.04 EPS and Q1 2026 earnings at $0.53 EPS.

Other equities analysts have also recently issued reports about the company. TD Cowen decreased their price objective on CSX from $36.00 to $35.00 and set a “hold” rating on the stock in a report on Thursday, October 17th. Barclays reduced their price target on CSX from $41.00 to $40.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 25th. Loop Capital reduced their price target on CSX from $43.00 to $42.00 and set a “buy” rating on the stock in a research report on Thursday, October 17th. Benchmark restated a “buy” rating and set a $40.00 price target on shares of CSX in a research report on Wednesday, August 7th. Finally, Wells Fargo & Company reduced their price target on CSX from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 17th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $38.61.

CSX Stock Performance

Shares of NASDAQ CSX opened at $33.39 on Thursday. The stock has a market cap of $64.39 billion, a price-to-earnings ratio of 17.95, a P/E/G ratio of 2.11 and a beta of 1.19. The company has a current ratio of 1.39, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. CSX has a 1-year low of $29.64 and a 1-year high of $40.12. The stock’s 50-day moving average is $34.01 and its 200 day moving average is $33.80.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.02). CSX had a net margin of 24.77% and a return on equity of 28.92%. The business had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.68 billion. During the same period in the previous year, the business earned $0.42 EPS. The business’s revenue was up 1.3% on a year-over-year basis.

CSX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend is Friday, November 29th. CSX’s dividend payout ratio is 25.81%.

Institutional Trading of CSX

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Proficio Capital Partners LLC grew its position in shares of CSX by 34.1% during the third quarter. Proficio Capital Partners LLC now owns 15,098 shares of the transportation company’s stock worth $521,000 after purchasing an additional 3,838 shares in the last quarter. Assetmark Inc. grew its holdings in CSX by 6.2% during the 3rd quarter. Assetmark Inc. now owns 369,680 shares of the transportation company’s stock valued at $12,765,000 after buying an additional 21,662 shares in the last quarter. Rockbridge Investment Management LCC purchased a new position in CSX during the 3rd quarter valued at approximately $205,000. CWA Asset Management Group LLC purchased a new position in CSX during the 3rd quarter valued at approximately $499,000. Finally, Equitable Trust Co. grew its holdings in CSX by 7.0% during the 3rd quarter. Equitable Trust Co. now owns 166,677 shares of the transportation company’s stock valued at $5,755,000 after buying an additional 10,970 shares in the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

About CSX

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 also transports chemicals, agricultural and food products, minerals, automotive, 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.