Zacks Research Predicts CSX’s FY2024 Earnings (NASDAQ:CSX)

CSX Co. (NASDAQ:CSX) – Research analysts at Zacks Research lowered their FY2024 EPS estimates for CSX in a report released on Tuesday, October 29th. Zacks Research analyst M. Basu now expects that the transportation company will post earnings per share of $1.85 for the year, down from their previous forecast of $1.92. The consensus estimate for CSX’s current full-year earnings is $1.93 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.

CSX (NASDAQ:CSX) last issued its 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). The business had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.68 billion. CSX had a return on equity of 29.11% and a net margin of 24.52%. CSX’s revenue was up 1.3% on a year-over-year basis. During the same period last year, the business posted $0.42 EPS.

A number of other equities research analysts have also recently weighed in on CSX. Evercore ISI reduced their price target on shares of CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. TD Cowen reduced their target price on CSX from $36.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, October 17th. BMO Capital Markets cut their price target on CSX from $40.00 to $39.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Loop Capital decreased their price objective on CSX from $43.00 to $42.00 and set a “buy” rating for the company in a report on Thursday, October 17th. Finally, Stephens reduced their price target on shares of CSX from $41.00 to $39.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, CSX currently has an average rating of “Moderate Buy” and an average target price of $38.61.

CSX Stock Up 0.9 %

Shares of NASDAQ:CSX opened at $33.54 on Thursday. The company has a current ratio of 1.16, a quick ratio of 1.01 and a debt-to-equity ratio of 1.42. The firm has a 50 day simple moving average of $34.01 and a 200-day simple moving average of $33.81. The company has a market capitalization of $65.57 billion, a PE ratio of 18.43, a P/E/G ratio of 1.90 and a beta of 1.19. CSX has a twelve month low of $29.28 and a twelve month high of $40.12.

CSX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a $0.12 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.48 annualized dividend and a dividend yield of 1.43%. CSX’s dividend payout ratio is presently 26.37%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CSX. Itau Unibanco Holding S.A. purchased a new position in CSX during the second quarter worth $26,000. MFA Wealth Advisors LLC purchased a new stake in CSX during the 2nd quarter worth about $27,000. Morton Brown Family Wealth LLC acquired a new position in CSX in the 3rd quarter valued at about $31,000. Fairscale Capital LLC purchased a new position in CSX in the 2nd quarter valued at about $32,000. Finally, Strategic Financial Concepts LLC purchased a new position in CSX in the 2nd quarter valued at about $33,000. 73.57% of the stock is owned by hedge funds and other institutional investors.

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.