Bank of America Corp. Upgrades Norfolk Southern Corp. to “Neutral” (NSC)
Norfolk Southern Corp. (NYSE:NSC) was upgraded by equities research analysts at Bank of America Corp. to a “neutral” rating in a research note issued to investors on Wednesday, American Banking & Market News reports.
Shares of Norfolk Southern Corp. (NYSE:NSC) traded up 6.12% on Wednesday, hitting $85.53. The stock had a trading volume of 3,431,587 shares. Norfolk Southern Corp. has a 52-week low of $56.05 and a 52-week high of $81.00. The stock’s 50-day moving average is $74.08 and its 200-day moving average is $75.30. The company has a market cap of $26.681 billion and a price-to-earnings ratio of 14.90.
Norfolk Southern Corp. (NYSE:NSC) last announced its earnings results on Wednesday, October 23rd. The company reported $1.53 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.39 by $0.14. The company had revenue of $2.82 billion for the quarter, compared to the consensus estimate of $2.77 billion. During the same quarter last year, the company posted $1.24 earnings per share. Norfolk Southern Corp.’s revenue was up 4.9% compared to the same quarter last year. Analysts expect that Norfolk Southern Corp. will post $5.50 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, December 10th. Shareholders of record on Friday, November 1st will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 2.58%.
Other equities research analysts have also recently issued reports about the stock. Analysts at RBC Capital downgraded shares of Norfolk Southern Corp. from an “outperform” rating to a “sector perform” rating in a research note to investors on Thursday, October 17th. They now have a $89.00 price target on the stock, down previously from $94.00. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Norfolk Southern Corp. in a research note to investors on Thursday, October 3rd. They now have a $82.00 price target on the stock. Finally, analysts at Sanford C. Bernstein raised their price target on shares of Norfolk Southern Corp. from $72.00 to $79.00 in a research note to investors on Wednesday, October 2nd. They now have a “market perform” rating on the stock. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $83.55.
Norfolk Southern Corporation (NYSE:NSC) is a Virginia based company that controls a railroad, Norfolk Southern Railway Company.
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