Norfolk Southern Corp. Receives Neutral Rating from Zacks (NSC)
Norfolk Southern Corp. (NYSE:NSC)‘s stock had its “neutral” rating reiterated by Zacks in a research report issued to clients and investors on Friday. They currently have a $110.00 price target on the stock. Zacks‘s target price would suggest a potential upside of 4.58% 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 economy bodes well for the company’s merchandize business. 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 and crude shipment makes us optimistic. However, our positive outlook stands the risk of being 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 up 0.52% on Friday, hitting $105.725. The stock had a trading volume of 794,010 shares. Norfolk Southern Corp. has a 52-week low of $71.86 and a 52-week high of $108.84. The stock’s 50-day moving average is $103.9 and its 200-day moving average is $98.42. The company has a market cap of $32.723 billion and a P/E ratio of 17.13.
Norfolk Southern Corp. (NYSE:NSC) last released its earnings data 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. Analysts expect that Norfolk Southern Corp. will post $6.48 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, September 10th. Investors 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 2.17%. The ex-dividend date of this dividend is Wednesday, July 30th. This is an increase from Norfolk Southern Corp.’s previous quarterly dividend of $0.54.
A number of other firms have also recently commented on NSC. 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. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $107.00.
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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