Vertical Research Begins Coverage on Norfolk Southern Corp. (NSC)
Equities research analysts at Vertical Research initiated coverage on shares of Norfolk Southern Corp. (NYSE:NSC) in a research report issued on Tuesday. The firm set a “sell” rating on the railroad operator’s stock.
A number of other research analysts have also recently commented on the stock. Zacks Investment Research cut shares of Norfolk Southern Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, October 5th. Citigroup Inc. upped their price target on shares of Norfolk Southern Corp. from $87.00 to $97.00 and gave the company a “neutral” rating in a report on Tuesday, September 13th. Credit Suisse Group AG cut their price target on shares of Norfolk Southern Corp. from $99.00 to $97.00 and set an “outperform” rating on the stock in a report on Thursday, July 28th. Loop Capital reaffirmed a “hold” rating on shares of Norfolk Southern Corp. in a report on Friday, September 9th. Finally, Barclays PLC cut their price target on shares of Norfolk Southern Corp. from $104.00 to $92.00 and set an “equal weight” rating on the stock in a report on Monday, September 12th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and ten have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $90.98.
Shares of Norfolk Southern Corp. (NYSE:NSC) traded up 0.41% during midday trading on Tuesday, hitting $96.22. 615,760 shares of the stock were exchanged. The firm has a 50 day moving average of $93.73 and a 200 day moving average of $88.24. The firm has a market cap of $28.25 billion, a P/E ratio of 18.02 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 posted its earnings results on Wednesday, July 27th. The railroad operator reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.01. Norfolk Southern Corp. had a net margin of 15.88% and a return on equity of 13.34%. The business had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.51 billion. During the same period in the previous year, the company posted $1.41 earnings per share. The business’s revenue for the quarter was down 9.5% compared to the same quarter last year. Equities analysts forecast that Norfolk Southern Corp. will post $5.46 EPS for the current fiscal year.
In other Norfolk Southern Corp. news, VP James A. Hixon sold 10,000 shares of the company’s 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 directly owns 129,074 shares of the company’s stock, valued at $12,152,317.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Thomas E. Hurlbut sold 850 shares of the company’s stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $92.28, for a total transaction of $78,438.00. Following the sale, the vice president now directly owns 10,730 shares of the company’s stock, valued at $990,164.40. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.
A number of hedge funds have recently bought and sold shares of NSC. Zions Bancorporation raised 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 worth $116,000 after buying an additional 650 shares during the period. Independent Portfolio Consultants Inc. raised 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 worth $124,000 after buying an additional 910 shares during the period. ClariVest Asset Management LLC bought a new stake in Norfolk Southern Corp. during the second quarter worth about $125,000. Oakworth Capital Inc. raised 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 worth $147,000 after buying an additional 555 shares during the period. Finally, NN Investment Partners Holdings N.V. bought a new stake in Norfolk Southern Corp. during the first quarter worth about $158,000. 67.90% of the stock is owned by institutional investors.
About Norfolk Southern Corp.
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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