Zacks Reiterates Neutral Rating for Norfolk Southern Corp. (NSC)
Norfolk Southern Corp. (NYSE:NSC)‘s stock had its “neutral” rating reaffirmed by Zacks in a report issued on Thursday. They currently have a $107.00 price target on the stock. Zacks‘s target price indicates a potential upside of 6.79% from the company’s current price.
Zacks’ analyst wrote, “We maintain our Neutral recommendation on Norfolk Southern. The company will likely benefit from continuous investments in infrastructure, favorable pricing revisions and abundant opportunities within the transportation business sector. The growing market share of its Intermodal segment and an improving Merchandize segment also bode well for the company. Strong demand in the automotive sector along with recovery in the construction and agriculture markets will likely support the company’s efforts to generate better revenues in the coming quarters. Further, an improving utility coal market and increase in steel demand makes us optimistic. However, our positive outlook is somewhat dampened by the weak performance of the export coal segment that could hold back its momentum in the quarters ahead. Other potential risks faced by the company include regulatory issues, volatile fuel prices, labor problems and competitive pressure. “
Norfolk Southern Corp. (NYSE:NSC) traded down 1.52% during mid-day trading on Thursday, hitting $100.20. 1,121,311 shares of the company’s stock traded hands. Norfolk Southern Corp. has a 1-year low of $70.27 and a 1-year high of $103.05. The stock’s 50-day moving average is $97.64 and its 200-day moving average is $93.80. The company has a market cap of $31.027 billion and a P/E ratio of 17.52.
Norfolk Southern Corp. (NYSE:NSC) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.02. The company had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.74 billion. During the same quarter in the previous year, the company posted $1.22 earnings per share. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. On average, analysts predict that Norfolk Southern Corp. will post $6.30 earnings per share for the current fiscal year.
In other Norfolk Southern Corp. news, COO Mark D. Manion sold 32,030 shares of Norfolk Southern Corp. stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $101.55, for a total transaction of $3,252,646.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of other analysts have also recently weighed in on NSC. Analysts at Bank of America reiterated a “buy” rating on shares of Norfolk Southern Corp. in a research note on Monday, June 2nd. They now have a $103.00 price target on the stock, down previously from $113.00. Separately, analysts at Credit Suisse reiterated an “outperform” rating on shares of Norfolk Southern Corp. in a research note on Thursday, April 24th. They now have a $109.00 price target on the stock. Finally, analysts at Macquarie initiated coverage on shares of Norfolk Southern Corp. in a research note on Thursday, April 10th. They set a “neutral” rating and a $99.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Norfolk Southern Corp. presently has a consensus rating of “Buy” and an average target price of $100.35.
Norfolk Southern Corporation (NYSE:NSC) is a Virginia based company that controls a railroad, Norfolk Southern Railway Company.
To view Zacks’ full report, visit Zacks’ official website.
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