CSX Co. (NASDAQ:CSX) to Post Q3 2024 Earnings of $0.50 Per Share, Zacks Research Forecasts

CSX Co. (NASDAQ:CSX) – Zacks Research dropped their Q3 2024 earnings estimates for CSX in a research report issued to clients and investors on Wednesday, May 1st. Zacks Research analyst M. Basu now expects that the transportation company will post earnings of $0.50 per share for the quarter, down from their prior estimate of $0.51. The consensus estimate for CSX’s current full-year earnings is $1.95 per share. Zacks Research also issued estimates for CSX’s Q1 2025 earnings at $0.49 EPS, Q2 2025 earnings at $0.52 EPS, Q3 2025 earnings at $0.55 EPS and Q1 2026 earnings at $0.44 EPS.

CSX has been the subject of a number of other reports. TD Cowen lifted their price target on shares of CSX from $32.00 to $36.00 and gave the company a “market perform” rating in a research report on Thursday, January 25th. BMO Capital Markets boosted their price objective on shares of CSX from $37.00 to $38.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Bank of America lowered their price objective on shares of CSX from $40.00 to $39.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Royal Bank of Canada lowered their price objective on shares of CSX from $37.00 to $36.00 and set a “sector perform” rating for the company in a research report on Thursday, April 18th. Finally, Susquehanna boosted their price objective on shares of CSX from $42.00 to $44.00 and gave the company a “positive” rating in a research report on Thursday, March 28th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, CSX currently has an average rating of “Moderate Buy” and an average price target of $38.00.

CSX Stock Up 0.8 %

NASDAQ CSX opened at $33.85 on Friday. The company has a current ratio of 1.15, a quick ratio of 1.00 and a debt-to-equity ratio of 1.42. CSX has a 1-year low of $29.03 and a 1-year high of $40.12. The company has a 50 day moving average of $36.23 and a 200-day moving average of $34.54. The company has a market cap of $66.17 billion, a price-to-earnings ratio of 18.60, a PEG ratio of 2.01 and a beta of 1.19.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. CSX had a net margin of 24.75% and a return on equity of 29.58%. The company had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.66 billion. During the same period in the previous year, the business earned $0.48 earnings per share. The firm’s quarterly revenue was down .8% on a year-over-year basis.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Miracle Mile Advisors LLC grew its stake in shares of CSX by 0.3% in the first quarter. Miracle Mile Advisors LLC now owns 103,563 shares of the transportation company’s stock worth $3,839,000 after purchasing an additional 303 shares during the last quarter. High Net Worth Advisory Group LLC grew its stake in shares of CSX by 1.7% in the fourth quarter. High Net Worth Advisory Group LLC now owns 17,704 shares of the transportation company’s stock worth $614,000 after purchasing an additional 304 shares during the last quarter. Stratos Wealth Advisors LLC grew its stake in shares of CSX by 1.1% in the fourth quarter. Stratos Wealth Advisors LLC now owns 28,210 shares of the transportation company’s stock worth $978,000 after purchasing an additional 304 shares during the last quarter. Team Hewins LLC grew its stake in shares of CSX by 1.7% in the first quarter. Team Hewins LLC now owns 18,778 shares of the transportation company’s stock worth $696,000 after purchasing an additional 306 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. grew its stake in shares of CSX by 0.3% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 120,244 shares of the transportation company’s stock worth $4,169,000 after purchasing an additional 309 shares during the last quarter. 73.57% of the stock is currently owned by institutional investors and hedge funds.

CSX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This is an increase from CSX’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a dividend yield of 1.42%. CSX’s dividend payout ratio is 26.37%.

CSX Company Profile

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.