Norfolk Southern Corp. CFO John Rathbone Sells 116,407 Shares (NSC)
Norfolk Southern Corp. (NYSE:NSC) CFO John Rathbone sold 116,407 shares of the stock on the open market in a transaction dated Thursday, October 24th. The stock was sold at an average price of $84.52, for a total transaction of $9,838,719.64. Following the completion of the transaction, the chief financial officer now directly owns 123,392 shares in the company, valued at approximately $10,429,092. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of Norfolk Southern Corp. (NYSE:NSC) traded up 0.52% on Monday, hitting $88.11. The stock had a trading volume of 1,835,010 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 $27.218 billion and a price-to-earnings ratio of 15.39.
Norfolk Southern Corp. (NYSE:NSC) last issued its quarterly earnings data 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 $5.64 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, December 10th. Investors of record on Friday, November 1st will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend is Wednesday, October 30th.
Several analysts have recently commented on the stock. Analysts at Credit Suisse raised their price target on shares of Norfolk Southern Corp. from $88.00 to $96.00 in a research note to investors on Friday. They now have an “outperform” rating on the stock. Separately, analysts at TD Securities raised their price target on shares of Norfolk Southern Corp. from $91.00 to $96.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Finally, analysts at BMO Capital Markets raised their price target on shares of Norfolk Southern Corp. from $90.00 to $94.00 in a research note to investors on Thursday. They now have an “outperform” rating on the stock. One research analyst has rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $86.65.
Norfolk Southern Corporation (NYSE:NSC) is a Virginia based company that controls a railroad, Norfolk Southern Railway Company.
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