Norfolk Souther Corporation’s (NSC) Buy Rating Reaffirmed at UBS AG
UBS AG reiterated their buy rating on shares of Norfolk Souther Corporation (NYSE:NSC) in a research report sent to investors on Monday, www.flashratings.com reports. UBS AG currently has a $133.00 price target on the railroad operator’s stock.
A number of other brokerages also recently issued reports on NSC. ValuEngine upgraded Norfolk Souther Corporation from a hold rating to a buy rating in a research report on Friday, June 2nd. Credit Suisse Group reiterated an outperform rating and set a $139.00 price target (up previously from $133.00) on shares of Norfolk Souther Corporation in a research report on Thursday, July 13th. They noted that the move was a valuation call. Cowen and Company reiterated a buy rating and set a $130.00 price target on shares of Norfolk Souther Corporation in a research report on Tuesday, July 11th. Scotiabank downgraded Norfolk Souther Corporation from a sector outperform rating to a sector perform rating in a research report on Thursday, July 6th. Finally, Zacks Investment Research downgraded Norfolk Souther Corporation from a buy rating to a hold rating in a research report on Tuesday, June 20th. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $112.35.
Norfolk Souther Corporation (NYSE:NSC) traded up 0.912% during mid-day trading on Monday, reaching $118.572. The company’s stock had a trading volume of 432,944 shares. The firm’s 50 day moving average is $118.75 and its 200-day moving average is $118.15. The company has a market cap of $34.17 billion, a PE ratio of 19.267 and a beta of 1.33. Norfolk Souther Corporation has a 12-month low of $89.92 and a 12-month high of $125.31.
Norfolk Souther Corporation (NYSE:NSC) last issued its quarterly earnings results on Wednesday, July 26th. The railroad operator reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.06. The company had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.64 billion. Norfolk Souther Corporation had a return on equity of 14.45% and a net margin of 17.66%. Norfolk Souther Corporation’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.36 earnings per share. Equities analysts anticipate that Norfolk Souther Corporation will post $6.32 earnings per share for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Monday, August 7th will be paid a dividend of $0.61 per share. The ex-dividend date is Thursday, August 3rd. This represents a $2.44 annualized dividend and a yield of 2.08%. Norfolk Souther Corporation’s dividend payout ratio (DPR) is 39.61%.
In other Norfolk Souther Corporation news, Chairman James A. Squires sold 24,407 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $119.95, for a total transaction of $2,927,619.65. Following the completion of the sale, the chairman now owns 76,481 shares of the company’s stock, valued at $9,173,895.95. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Thomas E. Hurlbut sold 802 shares of the firm’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $116.54, for a total value of $93,465.08. Following the sale, the vice president now directly owns 4,300 shares of the company’s stock, valued at approximately $501,122. The disclosure for this sale can be found here. 0.36% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the company. BlackRock Inc. raised its position in Norfolk Souther Corporation by 3.6% in the second quarter. BlackRock Inc. now owns 20,251,999 shares of the railroad operator’s stock worth $2,464,667,000 after buying an additional 700,567 shares during the period. Vanguard Group Inc. raised its position in Norfolk Souther Corporation by 3.2% in the second quarter. Vanguard Group Inc. now owns 20,097,333 shares of the railroad operator’s stock worth $2,445,845,000 after buying an additional 631,018 shares during the period. State Street Corp raised its position in Norfolk Souther Corporation by 2.2% in the first quarter. State Street Corp now owns 12,960,797 shares of the railroad operator’s stock worth $1,451,226,000 after buying an additional 281,088 shares during the period. FMR LLC raised its position in Norfolk Souther Corporation by 13.0% in the second quarter. FMR LLC now owns 6,618,986 shares of the railroad operator’s stock worth $805,530,000 after buying an additional 762,416 shares during the period. Finally, Lazard Asset Management LLC raised its position in Norfolk Souther Corporation by 17.1% in the second quarter. Lazard Asset Management LLC now owns 6,343,533 shares of the railroad operator’s stock worth $772,007,000 after buying an additional 925,496 shares during the period. 70.51% of the stock is owned by institutional investors.
About Norfolk Souther Corporation
Norfolk Southern Corporation is a holding company engaged in the rail transportation business. As of December 31, 2016, the Company operated approximately 19,500 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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