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Higher Rates Propel CSX Corp’s Q1 Earnings Beat (CSX)

By Dividend.com,  April 18, 2012, 08:37:50 AM EDT

Railroad operator CSX Corporation ( CSX ) late Tuesday posted better-than-expected first quarter earnings results, helped by higher rates amid lower coal shipments.

The Jacksonville, FL-based company reported first quarter net income of $449 million, or 43 cents per share, compared with $395 million, or 35 cents per share, in the year-ago period.

Revenue rose 6% from last year to $2.97 billion.

On average, Wall Street analysts expected a smaller profit of 38 cents per share, on lower revenue of $2.91 billion.

CSX Corp shares rose 31 cents, or +1.4%, in premarket trading Wednesday.

The Bottom Line
Shares of CSX Corp ( CSX ) have a 2.14% dividend yield, based on last night's closing stock price of $22.44. The stock has technical support in the $20 price area. If the shares can firm up, we see overhead resistance around the $24-$25 price levels.

CSX Corporation ( CSX ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: CSX



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