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CSX Corporation (CSX), headquartered in Jacksonville, Florida, is a leading transportation company in the U.S. With a market cap of $67.48 billion, CSX operates an extensive rail network that plays a crucial role in the nation's supply chain, moving a wide range of goods and materials across the country. The company is scheduled to announce its Q3 earnings after the market closes on Wednesday, Oct. 16.
Ahead of the event, analysts expect CSX to report a profit of $0.48 per share, up 14.3% from $0.42 in the year-ago quarter. The company has surpassed and matched Wall Street’s EPS estimates in its last four quarterly reports.
Its adjusted earnings of $0.49 per share for the last quarter surpassed the consensus estimate by 2.1%. CSX's earnings beat was driven by efficient cost management and improved operational efficiency.
For fiscal 2024, analysts expect CSX to report EPS of $1.93, up 4.3% from $1.85 in fiscal 2023.
CSX stock is down marginally on a YTD basis, underperforming the broader S&P 500 Index's ($SPX) 19.7% gains and the iShares U.S. Transportation ETF’s (IYT) 3.8% returns over the same time frame.
CSX Corporation's stock has dropped by 10.8% over the past six months, primarily due to supply chain disruptions and network-related issues, underperforming its industry, which saw a decline of 4.1%. In addition, CSX shares closed down more than 3% on Aug. 5 after reporting its Q2 results. Its revenue was $3.70 billion, matching forecasts.
The consensus opinion on CSX stock is bullish, with an overall “Strong Buy” rating. Out of 22 analysts covering the stock, 15 advise a “Strong Buy” rating, one suggests a “Moderate Buy,” and six indicate a “Hold.” CSX's average analyst price target is $38.74, indicating a potential upside of 12.2% from the current levels.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
