CSX Profit Tops Wall Street Driven By Lower Costs, Revenue Misses

Rodiano Bonacci
Gennaio 17, 2018

(NASDAQ:CSX) by 3.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission.

The transportation company reported earnings of $4.1 billion for its fourth quarter of fiscal 2017, or $4.62 per share, topping the $458 million, or 49 cents per share it posted in the year-ago quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock.

Jacksonville, Florida-based CSX's fourth-quarter profit rose to $4.14 billion or $4.62 per share from $458 million or $0.49 per share previous year. South State Corp now owns 23,419 shares of the transportation company's stock worth $1,271,000 after purchasing an additional 6,239 shares in the last quarter. Finally, Sterling Capital Management LLC raised its holdings in CSX by 32.0% during the third quarter. Cohen & Steers Inc. now owns 1,801,521 shares of the transportation company's stock valued at $97,751,000 after buying an additional 429,795 shares during the last quarter. National Pension Service now owns 850,650 shares of the transportation company's stock worth $46,794,000 after buying an additional 30,937 shares during the period. Bank of Montreal Can lifted its stake in shares of CSX by 13.0% during the fourth quarter. Oakbrook Investments LLC now owns 131,250 shares of the company's stock worth $3,423,000 after buying an additional 16,350 shares during the last quarter. Finally, Hudson Valley Investment Advisors Inc. ADV lifted its stake in shares of CSX by 5.4% during the fourth quarter. Hudson Valley Investment Advisors Inc. Institutional investors own 70.17% of the company's stock.

Robert W. Baird reaffirmed a "buy" rating and issued a $59.00 price objective on shares of CSX in a research report on Tuesday, January 9th. The company now has an average rating of "Buy" and a consensus price target of $59.08. Aegis restated a "buy" rating and issued a $64.00 price target on shares of CSX in a research report on Tuesday, October 10th. Morgan Stanley set a $51.00 price objective on shares of CSX and gave the company a "sell" rating in a research note on Wednesday. They noted that the move was a valuation call. Royal Bank of Canada raised their price objective on CSX from $59.00 to $67.00 and gave the company an "outperform" rating in a research report on Tuesday, January 9th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and sixteen have issued a buy rating to the company. The stock has a consensus rating of "Buy" and a consensus price target of $57.28. The shares were acquired at an average cost of $2,300.00 per share, for a total transaction of $11,500,000.00. CSX Co. has a fifty-two week low of $36.21 and a fifty-two week high of $60.04.

Shares of CSX Corporation (NASDAQ:CSX) opened at 38.04 on Thursday. Following the completion of the transaction, the chairman now owns 198,742 shares in the company, valued at $6,155,039.74. The company has a market capitalization of $52,953.09, a P/E ratio of 29.96, a P/E/G ratio of 1.55 and a beta of 1.35. The company reported $0.48 earnings per share for the quarter, beating the Zacks' consensus estimate of $0.45 by $0.03. CSX had a net margin of 15.45% and a return on equity of 17.28%. The firm had revenue of $2.86 billion during the quarter, compared to analysts' expectations of $2.89 billion. The firm's revenue for the quarter was down 5.7% compared to the same quarter past year.

CSX announced that its board has initiated a stock repurchase plan on Wednesday, October 25th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the transportation company to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its shares are undervalued.

TRADEMARK VIOLATION NOTICE: "Skylands Capital LLC Sells 58,400 Shares of CSX Co". If you are accessing this news story on another domain, it was illegally stolen and reposted in violation of USA & worldwide copyright and trademark laws.

Altre relazioniGrafFiotech

Discuti questo articolo

Segui i nostri GIORNALE