Norfolk Southern Corp. Given Consensus Recommendation of “Buy” by Brokerages (NYSE:NSC)
Shares of Norfolk Southern Corp. (NYSE:NSC) have been given an average rating of “Buy” by the nineteen analysts that are currently covering the stock, StockRatingsNetwork reports. Six research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $106.83.
In other Norfolk Southern Corp. news, President James A. Squires sold 32,030 shares of Norfolk Southern Corp. stock on the open market in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $104.95, for a total transaction of $3,361,548.50. The sale was disclosed in a document filed with the SEC, which is available at this link.
A number of analysts have recently weighed in on NSC shares. Analysts at Raymond James reiterated an “outperform” rating on shares of Norfolk Southern Corp. in a research note on Thursday, July 24th. They now have a $113.00 price target on the stock, up previously from $109.00. Separately, analysts at Credit Suisse reiterated an “outperform” rating on shares of Norfolk Southern Corp. in a research note on Thursday, July 24th. They now have a $120.00 price target on the stock, up previously from $115.00. Finally, analysts at Macquarie reiterated a “neutral” rating on shares of Norfolk Southern Corp. in a research note on Thursday, July 24th. They now have a $107.00 price target on the stock, up previously from $106.00.
Norfolk Southern Corp. (NYSE:NSC) opened at 102.84 on Friday. Norfolk Southern Corp. has a 52-week low of $71.86 and a 52-week high of $108.84. The stock has a 50-day moving average of $103.4 and a 200-day moving average of $97.70. The company has a market cap of $31.831 billion and a P/E ratio of 16.51.
Norfolk Southern Corp. (NYSE:NSC) last announced its earnings results on Wednesday, July 23rd. The company reported $1.79 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.71 by $0.08. The company had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.00 billion. During the same quarter last year, the company posted $1.46 earnings per share. Norfolk Southern Corp.’s revenue was up 8.6% compared to the same quarter last year. On average, analysts predict that Norfolk Southern Corp. will post $6.48 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, September 10th. Stockholders of record on Friday, August 1st will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend is Wednesday, July 30th. This is a boost from Norfolk Southern Corp.’s previous quarterly dividend of $0.54.
Norfolk Southern Corporation (NYSE:NSC) is a Virginia based company that controls a railroad, Norfolk Southern Railway Company.
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