{"id":34517,"date":"2015-04-15T07:35:01","date_gmt":"2015-04-15T11:35:01","guid":{"rendered":"https:\/\/cablemanpro.com\/wallstreetpr\/?p=34517"},"modified":"2015-04-15T07:35:01","modified_gmt":"2015-04-15T11:35:01","slug":"csx-corporation-nysecsx-ready-for-rally","status":"publish","type":"post","link":"https:\/\/cablemanpro.com\/wallstreetpr\/csx-corporation-nysecsx-ready-for-rally-34517","title":{"rendered":"CSX Corporation (NYSE:CSX) \u2013 Ready For Rally"},"content":{"rendered":"<p style=\"text-align: justify;\"><strong>CSX Corporation (NYSE:CSX)<\/strong> ended the last trading session with a minor gain of 0.39% after the announcement of its first quarter earnings but more important was the 4% recovery from the intraday low. The volume jumped to 19 million against the average of 8 million, as natural in an earnings announcement day. The stock may have found its short term bottom and a rise towards $37 or $38 can\u2019t be ruled out now.<\/p>\n<p style=\"text-align: justify;\">The first quarter net earnings of CSX Corporation (NYSE:CSX) came at $442 million, which means an increase of 11% against $398 million in the same quarter last year. The earnings per share increased by 13% from the earlier $0.40 to $0.45 now. An improved pricing environment, the benefit of lower fuel prices and cost saving initiatives not only offset higher inflation and volume related costs, it also drove the revenue to $3 billion for the quarter. The operating income came at $843 million, an increase of 14% and the operating ratio saw an improvement by 330 basis points to reach 72.2%.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/cablemanpro.com\/wallstreetpr\/wp-content\/uploads\/2015\/04\/CSX.jpg\"><img fetchpriority=\"high\" decoding=\"async\" class=\" size-full wp-image-34518 aligncenter\" src=\"https:\/\/cablemanpro.com\/wallstreetpr\/wp-content\/uploads\/2015\/04\/CSX.jpg\" alt=\"CSX\" width=\"619\" height=\"466\" srcset=\"https:\/\/cablemanpro.com\/wallstreetpr\/wp-content\/uploads\/2015\/04\/CSX.jpg 619w, https:\/\/cablemanpro.com\/wallstreetpr\/wp-content\/uploads\/2015\/04\/CSX-300x226.jpg 300w, https:\/\/cablemanpro.com\/wallstreetpr\/wp-content\/uploads\/2015\/04\/CSX-73x55.jpg 73w\" sizes=\"(max-width: 619px) 100vw, 619px\" \/><\/a><\/p>\n<p style=\"text-align: justify;\">A new share repurchase program and a 13% increase in the quarterly dividend have been approved by CSX Corporation (NYSE:CSX) Board of Directors. The increased dividend of $0.18 per share will be paid on June 15, 2015 to shareholders of record at the close of business on May 29, 2015. The next 24 months will see the new $2 billion share repurchase completed. The company has already repurchased shares worth about $9 billion in the last decade.<\/p>\n<p style=\"text-align: justify;\">Technically, it looks like a bear trap has sprung into action, trapping a lot of shorts. Just a single EOD closing above yesterday\u2019s high of $33.26 may trigger some serious short covering and initiate a rally to $37-$38 or even a new high. Aggressive investors can buy the stock at current levels with a stoploss below $31.50.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>CSX Corporation (NYSE:CSX) ended the last trading session with a minor gain of 0.39% after the announcement of its first quarter earnings but more important [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":19492,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[2236],"tags":[6013,6014],"stock_ticker":[],"class_list":["post-34517","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-csx-corporation-nysecsx","tag-nysecsx","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - 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