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

CSX Co. (NASDAQ:CSX) – Equities researchers at Zacks Research dropped their Q3 2024 earnings per share (EPS) estimates for CSX in a research report issued to clients and investors on Wednesday, May 1st. Zacks Research analyst M. Basu now forecasts that the transportation company will post earnings per share of $0.50 for the quarter, down from their previous forecast 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.

Several other research firms have also weighed in on CSX. StockNews.com lowered CSX from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Susquehanna raised their target price on shares of CSX from $42.00 to $44.00 and gave the company a “positive” rating in a research note on Thursday, March 28th. Jefferies Financial Group dropped their target price on shares of CSX from $40.00 to $38.00 and set a “hold” rating on the stock in a report on Thursday, April 18th. UBS Group decreased their price target on shares of CSX from $46.00 to $44.00 and set a “buy” rating for the company in a report on Thursday, April 18th. Finally, Raymond James lifted their price objective on CSX from $35.00 to $38.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 16th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $38.00.

CSX Stock Performance

Shares of CSX opened at $33.85 on Friday. The firm has a market cap of $66.17 billion, a price-to-earnings ratio of 18.60, a price-to-earnings-growth ratio of 1.99 and a beta of 1.19. The company’s fifty day moving average is $36.32 and its 200-day moving average is $34.52. The company has a quick ratio of 1.00, a current ratio of 1.15 and a debt-to-equity ratio of 1.42. CSX has a 12 month low of $29.03 and a 12 month high of $40.12.

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

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a $0.12 dividend. 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%. The ex-dividend date of this dividend was Wednesday, February 28th. CSX’s payout ratio is presently 26.37%.

Institutional Trading of CSX

A number of hedge funds and other institutional investors have recently made changes to their positions in CSX. Fortitude Family Office LLC acquired a new position in CSX during the 4th quarter worth $27,000. Life Planning Partners Inc bought a new stake in shares of CSX during the fourth quarter worth $27,000. Financial Synergies Wealth Advisors Inc. acquired a new position in shares of CSX during the first quarter valued at $29,000. Venturi Wealth Management LLC boosted its holdings in CSX by 228.4% in the third quarter. Venturi Wealth Management LLC now owns 995 shares of the transportation company’s stock valued at $31,000 after acquiring an additional 692 shares during the last quarter. Finally, Turtle Creek Wealth Advisors LLC acquired a new stake in CSX in the fourth quarter worth about $34,000. 73.57% of the stock is currently owned by institutional investors and hedge funds.

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.