Norfolk Souther Corporation (NSC) Stock Rating Reaffirmed by Morgan Stanley
Norfolk Souther Corporation (NYSE:NSC)‘s stock had its “underweight” rating reaffirmed by investment analysts at Morgan Stanley in a report released on Monday. They presently have a $75.00 price objective on the railroad operator’s stock, down from their prior price objective of $77.00. Morgan Stanley’s price target points to a potential downside of 43.00% from the company’s previous close.
Other equities analysts also recently issued reports about the stock. Cowen and Company restated an “outperform” rating and set a $130.00 price objective on shares of Norfolk Souther Corporation in a research note on Tuesday, August 1st. Stifel Nicolaus reaffirmed a “hold” rating and issued a $124.00 target price (up previously from $122.00) on shares of Norfolk Souther Corporation in a research report on Thursday, July 27th. Zacks Investment Research downgraded Norfolk Souther Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Deutsche Bank AG lowered Norfolk Souther Corporation from a “buy” rating to a “hold” rating and dropped their target price for the stock from $132.00 to $104.00 in a report on Monday, July 31st. Finally, Credit Suisse Group reiterated an “outperform” rating and set a $139.00 target price (up previously from $133.00) on shares of Norfolk Souther Corporation in a report on Thursday, July 13th. They noted that the move was a valuation call. Five equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $112.50.
Norfolk Souther Corporation (NYSE NSC) opened at 131.57 on Monday. Norfolk Souther Corporation has a 12-month low of $89.95 and a 12-month high of $133.81. The company has a market capitalization of $37.92 billion, a price-to-earnings ratio of 21.38 and a beta of 1.38. The firm’s 50-day moving average price is $124.72 and its 200 day moving average price is $119.20.
Norfolk Souther Corporation (NYSE:NSC) last announced its earnings results on Wednesday, July 26th. The railroad operator reported $1.71 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.65 by $0.06. The business had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.64 billion. Norfolk Souther Corporation had a net margin of 17.66% and a return on equity of 14.45%. The firm’s revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.36 earnings per share. On average, equities research analysts expect that Norfolk Souther Corporation will post $6.33 EPS for the current fiscal year.
Norfolk Souther Corporation announced that its board has initiated a stock buyback plan on Tuesday, September 26th that permits the company to repurchase 50,000,000 shares. This repurchase authorization permits the railroad operator to purchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
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In other news, Chairman James A. Squires sold 24,407 shares of Norfolk Souther Corporation 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 Securities & Exchange Commission, which can be accessed through this link. Also, VP Thomas E. Hurlbut sold 300 shares of Norfolk Souther Corporation stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $118.80, for a total value of $35,640.00. Following the sale, the vice president now directly owns 4,000 shares of the company’s stock, valued at approximately $475,200. The disclosure for this sale can be found here. Insiders sold a total of 27,077 shares of company stock valued at $3,244,531 over the last 90 days. 0.36% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the company. D Orazio & Associates Inc. increased its position in Norfolk Souther Corporation by 0.5% during the first quarter. D Orazio & Associates Inc. now owns 891 shares of the railroad operator’s stock worth $100,000 after acquiring an additional 4 shares during the period. Harbour Capital Advisors LLC raised its stake in Norfolk Souther Corporation by 12,069.6% in the 2nd quarter. Harbour Capital Advisors LLC now owns 12,413 shares of the railroad operator’s stock worth $102,000 after purchasing an additional 12,311 shares in the last quarter. Krilogy Financial LLC raised its stake in Norfolk Souther Corporation by 2.6% in the 2nd quarter. Krilogy Financial LLC now owns 855 shares of the railroad operator’s stock worth $104,000 after purchasing an additional 22 shares in the last quarter. AlphaMark Advisors LLC raised its stake in Norfolk Souther Corporation by 20.7% in the 2nd quarter. AlphaMark Advisors LLC now owns 875 shares of the railroad operator’s stock worth $106,000 after purchasing an additional 150 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its stake in Norfolk Souther Corporation by 35.3% in the 1st quarter. Parkside Financial Bank & Trust now owns 958 shares of the railroad operator’s stock worth $107,000 after purchasing an additional 250 shares in the last quarter. 70.60% of the stock is owned by institutional investors.
Norfolk Souther Corporation Company Profile
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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