What Lies Ahead For CSX Corp. (NASDAQ: CSX) In 2024?

CSX Corp. (NASDAQ:CSX) shares, rose in value on Wednesday, May 15, with the stock price down by -0.27% to the previous day’s close as strong demand from buyers drove the stock to $33.84.

Actively observing the price movement in the last trading, the stock closed the session at $33.93. The PE ratio was 18.59 over 12-month period. Referring to stock’s 52-week performance, its high was $40.12, and the low was $29.03. On the whole, CSX has fluctuated by -2.87% over the past month.

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The company’s Forward Dividend Ratio is 0.45, with its dividend yield at 1.33%.

Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that CSX’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium-term indicators have put the stock in the category of Hold while long-term indicators on average have been pointing out that it is a Hold.

The stock’s technical analysis shows that the PEG ratio is about 2.01, with the price of CSX currently trading nearly -0.60% and -5.22% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 40.60, while the 7-day volatility ratio is showing 1.72% which for the 30-day chart, stands at 1.72%. Furthermore, CSX Corp. (CSX)’s beta value is 1.19, and its average true range (ATR) is 0.58.

A comparison of CSX Corp. (CSX) with its peers suggests the former has fared considerably weaker in the market. CSX showed an intraday change of -0.27% in last session, and over the past year, it grew by 5.72%%.

Data on historical trading for CSX Corp. (NASDAQ:CSX) indicates that the trading volumes over the past 3 months, they’ve averaged 12.39 million. According to company’s latest data on outstanding shares, there are 1.96 billion shares outstanding.

Nearly 0.15% of CSX Corp.’s shares belong to company insiders and institutional investors own 75.18% of the company’s shares. The stock has fallen by -2.39% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the CSX stock heading into the next quarter.

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