Vertical Research Upgrades Norfolk Southern Corp. (NSC) to Hold
Norfolk Southern Corp. (NYSE:NSC) was upgraded by research analysts at Vertical Research from a “sell” rating to a “hold” rating in a research report issued on Thursday.
Other equities analysts have also issued research reports about the company. Zacks Investment Research raised Norfolk Southern Corp. from a “hold” rating to a “buy” rating and set a $106.00 target price on the stock in a research note on Wednesday, September 28th. Bank of America Corp. raised Norfolk Southern Corp. from a “neutral” rating to a “buy” rating and increased their target price for the company from $97.00 to $110.00 in a research note on Tuesday, October 11th. Argus reissued a “buy” rating on shares of Norfolk Southern Corp. in a research note on Wednesday, August 3rd. Seaport Global Securities started coverage on Norfolk Southern Corp. in a research note on Friday, October 28th. They issued a “buy” rating and a $101.00 target price on the stock. Finally, Deutsche Bank AG started coverage on Norfolk Southern Corp. in a research note on Wednesday, November 2nd. They issued a “buy” rating and a $110.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eleven have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $92.82.
Shares of Norfolk Southern Corp. (NYSE:NSC) opened at 100.91 on Thursday. The company has a 50 day moving average price of $94.70 and a 200 day moving average price of $90.07. Norfolk Southern Corp. has a 52 week low of $64.51 and a 52 week high of $101.19. The company has a market cap of $29.46 billion, a PE ratio of 18.69 and a beta of 1.13.
Norfolk Southern Corp. (NYSE:NSC) last released its earnings results on Wednesday, October 26th. The railroad operator reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.10. Norfolk Southern Corp. had a return on equity of 13.15% and a net margin of 16.27%. The firm had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.25 billion. During the same quarter in the prior year, the firm posted $1.49 earnings per share. The company’s quarterly revenue was down 7.0% on a year-over-year basis. On average, equities analysts expect that Norfolk Southern Corp. will post $5.55 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Saturday, December 10th. Investors of record on Friday, November 4th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Wednesday, November 2nd. This represents a $2.36 annualized dividend and a yield of 2.34%. Norfolk Southern Corp.’s dividend payout ratio (DPR) is presently 43.70%.
In related news, EVP Marta R. Stewart sold 3,064 shares of the business’s stock in a transaction on Friday, August 19th. The stock was sold at an average price of $91.56, for a total value of $280,539.84. Following the completion of the sale, the executive vice president now directly owns 10,766 shares in the company, valued at approximately $985,734.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Thomas E. Hurlbut sold 1,017 shares of the business’s stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $89.30, for a total value of $90,818.10. Following the completion of the sale, the vice president now owns 12,597 shares of the company’s stock, valued at $1,124,912.10. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. WealthTrust Arizona LLC increased its stake in Norfolk Southern Corp. by 0.9% in the third quarter. WealthTrust Arizona LLC now owns 1,100 shares of the railroad operator’s stock valued at $107,000 after buying an additional 10 shares during the period. Live Your Vision LLC bought a new position in shares of Norfolk Southern Corp. during the third quarter valued at $109,000. QCI Asset Management Inc. NY boosted its position in shares of Norfolk Southern Corp. by 0.5% in the third quarter. QCI Asset Management Inc. NY now owns 1,152 shares of the railroad operator’s stock valued at $112,000 after buying an additional 6 shares in the last quarter. Zions Bancorporation boosted its position in shares of 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 in the last quarter. Finally, BKS Advisors LLC bought a new position in shares of Norfolk Southern Corp. during the third quarter valued at $123,000. Institutional investors and hedge funds own 67.97% of the company’s stock.
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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