NEW YORK (TheStreet) -- CSX shares are up 3.16% to $34.26 in after-hours trading on Tuesday following the release of the railroad company's first quarter financial results after the closing bell today.The Jacksonville, FL-based company reported first quarter earnings of $442 million, or 45 cents per diluted share, an 11% increase over the $398 million it reported during the same period last year, on revenue of $3.03 billion.Analysts on average were expecting the company to report earnings of 44 cents per share on revenue of $3.0 billion.Separately, the company announced that its board approved a 13% increase in its quarterly dividend payout to 18 cents per share as well as a $2 billion stock buyback. The dividend is scheduled to be paid June 15 to shareholders of record on May 29.The company attributed the strong quarter to a strengthening economy that increased freight volumes, allowing the company to raise its customers' rates. TheStreet Ratings team rates CSX CORP as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation: "We rate CSX CORP (CSX) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its solid stock price performance, growth in earnings per share, revenue growth, reasonable valuation levels and good cash flow from operations. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity." Highlights from the analysis by TheStreet Ratings Team goes as follows: You can view the full analysis from the report here: CSX Ratings Report CSX data by YChartsMust Read: Warren Buffett's Top 25 Stocks for 2015
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