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

CSX Co. (NASDAQ:CSX) – Research analysts at Zacks Research cut their FY2024 earnings estimates for CSX in a note issued to investors on Tuesday, October 29th. Zacks Research analyst M. Basu now forecasts that the transportation company will post earnings of $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 $1.93 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 announced its earnings results on Wednesday, October 16th. The transportation company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.02). CSX had a return on equity of 29.11% and a net margin of 24.52%. The company had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.68 billion. During the same period in the prior year, the firm posted $0.42 earnings per share. The company’s revenue was up 1.3% on a year-over-year basis.

CSX has been the subject of a number of other reports. TD Cowen dropped their price target on shares of CSX from $36.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, October 17th. Susquehanna dropped their price target on shares of CSX from $42.00 to $40.00 and set a “positive” rating for the company in a research note on Thursday, October 17th. Bank of America downgraded shares of CSX from a “buy” rating to a “neutral” rating and set a $37.00 price target for the company. in a research note on Monday, July 8th. Barclays dropped their price target on shares of CSX from $41.00 to $40.00 and set an “overweight” rating for the company in a research note on Wednesday, September 25th. Finally, Evercore ISI dropped their price target on shares of CSX from $38.00 to $37.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $38.61.

CSX Trading Up 0.3 %

Shares of NASDAQ CSX opened at $33.64 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 company has a market cap of $65.76 billion, a PE ratio of 18.48, a P/E/G ratio of 1.90 and a beta of 1.19. The company has a 50-day moving average of $34.02 and a two-hundred day moving average of $33.81. CSX has a 1-year low of $29.28 and a 1-year high of $40.12.

CSX Announces Dividend

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Itau Unibanco Holding S.A. acquired a new position in CSX during the second quarter worth $26,000. MFA Wealth Advisors LLC acquired a new position in CSX during the second quarter worth $27,000. Fairscale Capital LLC acquired a new position in CSX during the second quarter worth $32,000. Morton Brown Family Wealth LLC acquired a new position in CSX during the third quarter worth $31,000. Finally, TFC Financial Management Inc. boosted its holdings in CSX by 72.4% during the second quarter. TFC Financial Management Inc. now owns 1,048 shares of the transportation company’s stock worth $35,000 after purchasing an additional 440 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

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.