Norfolk Southern Corp. (NYSE:NSC) Given Consensus Rating of “Hold” by Analysts
Norfolk Southern Corp. (NYSE:NSC) has been assigned an average rating of “Hold” from the twenty-eight research firms that are covering the company. Two equities research analysts have rated the stock with a sell recommendation, fifteen have assigned a hold recommendation and nine have given a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $89.51.
A number of equities research analysts have recently commented on the company. Zacks Investment Research upgraded Norfolk Southern Corp. from a “hold” rating to a “buy” rating and set a $106.00 price objective for the company in a research report on Wednesday, September 28th. Loop Capital reiterated a “hold” rating on shares of Norfolk Southern Corp. in a research report on Friday, September 9th. Citigroup Inc. increased their price objective on Norfolk Southern Corp. from $87.00 to $97.00 and gave the company a “neutral” rating in a research report on Tuesday, September 13th. Barclays PLC cut their price objective on Norfolk Southern Corp. from $104.00 to $92.00 and set an “equal weight” rating for the company in a research report on Monday, September 12th. Finally, Credit Suisse Group AG cut their price objective on Norfolk Southern Corp. from $99.00 to $97.00 and set an “outperform” rating for the company in a research report on Thursday, July 28th.
In related news, VP Thomas E. Hurlbut sold 528 shares of the stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $88.35, for a total value of $46,648.80. Following the completion of the sale, the vice president now owns 11,580 shares in the company, valued at $1,023,093. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP James A. Hixon sold 10,000 shares of the stock in a transaction dated Tuesday, August 30th. The shares were sold at an average price of $94.15, for a total transaction of $941,500.00. Following the completion of the sale, the vice president now owns 129,074 shares of the company’s stock, valued at approximately $12,152,317.10. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in NSC. Sun Life Financial INC bought a new stake in Norfolk Southern Corp. during the first quarter valued at $72,344,000. Zions Bancorporation boosted its stake in Norfolk Southern Corp. by 90.4% in the second quarter. Zions Bancorporation now owns 1,369 shares of the railroad operator’s stock valued at $116,000 after buying an additional 650 shares during the last quarter. Independent Portfolio Consultants Inc. boosted its stake in Norfolk Southern Corp. by 165.5% in the second quarter. Independent Portfolio Consultants Inc. now owns 1,460 shares of the railroad operator’s stock valued at $124,000 after buying an additional 910 shares during the last quarter. ClariVest Asset Management LLC bought a new stake in Norfolk Southern Corp. during the second quarter valued at $125,000. Finally, Oakworth Capital Inc. boosted its stake in Norfolk Southern Corp. by 46.5% in the second quarter. Oakworth Capital Inc. now owns 1,748 shares of the railroad operator’s stock valued at $147,000 after buying an additional 555 shares during the last quarter. Institutional investors and hedge funds own 67.90% of the company’s stock.
Norfolk Southern Corp. (NYSE:NSC) traded down 1.06% during midday trading on Tuesday, reaching $95.88. The company’s stock had a trading volume of 644,780 shares. The stock’s 50-day moving average price is $92.82 and its 200-day moving average price is $87.77. The firm has a market capitalization of $28.15 billion, a price-to-earnings ratio of 17.96 and a beta of 1.27. Norfolk Southern Corp. has a 12 month low of $64.51 and a 12 month high of $98.75.
Norfolk Southern Corp. (NYSE:NSC) last announced its quarterly earnings data on Wednesday, July 27th. The railroad operator reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.01. Norfolk Southern Corp. had a return on equity of 13.34% and a net margin of 15.88%. The company earned $2.45 billion during the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter in the prior year, the firm earned $1.41 EPS. The company’s quarterly revenue was down 9.5% compared to the same quarter last year. Analysts predict that Norfolk Southern Corp. will post $5.45 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Saturday, September 10th. Investors of record on Monday, August 8th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend was Thursday, August 4th. Norfolk Southern Corp.’s payout ratio is presently 44.19%.
Norfolk Southern Corp. Company Profile
Norfolk Southern Corporation is a holding company engaged in the rail transportation business. The Company operates approximately 20,000 miles of road primarily in the East and Midwest. The Company is engaged in the rail transportation of raw materials, intermediate products and finished goods primarily in the Southeast, East and Midwest.
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