Norfolk Southern Corp. VP Unloads $176,960 in Stock (NSC)
Norfolk Southern Corp. (NYSE:NSC) VP Cynthia Earhart unloaded 2,000 shares of the stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $88.48, for a total transaction of $176,960.00. Following the completion of the transaction, the vice president now directly owns 43,172 shares in the company, valued at approximately $3,819,859. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Norfolk Southern Corp. (NYSE:NSC) traded down 1.09% during mid-day trading on Wednesday, hitting $86.52. The stock had a trading volume of 2,254,111 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 $26.727 billion and a P/E ratio of 15.36. Norfolk Southern Corp. also was the recipient of unusually large options trading on Tuesday. Stock investors bought 37,256 call options on the company. This is an increase of 906% compared to the average volume of 3,703 call options.
Norfolk Southern Corp. (NYSE:NSC) last announced its earnings results on Wednesday, October 23rd. The company reported $1.53 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $1.24 earnings per share. The company’s quarterly revenue was up 4.9% on a year-over-year basis. On average, analysts predict that Norfolk Southern Corp. will post $5.66 earnings per share 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 2.40%. The ex-dividend date is Wednesday, October 30th.
A number of analysts have recently weighed in on NSC shares. 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, October 25th. 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, October 24th. 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, October 24th. They now have an “outperform” rating on the stock. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price 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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