Vertical Research Begins Coverage on Norfolk Southern Corp. (NSC)
Stock analysts at Vertical Research began coverage on shares of Norfolk Southern Corp. (NYSE:NSC) in a research report issued to clients and investors on Tuesday, The Fly reports. The firm set a “sell” rating on the railroad operator’s stock.
NSC has been the topic of a number of other research reports. Zacks Investment Research upgraded Norfolk Southern Corp. from a “hold” rating to a “buy” rating and set a $109.00 price objective on the stock in a research note on Friday. Citigroup Inc. upped their price objective on Norfolk Southern Corp. from $87.00 to $97.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 13th. Loop Capital reiterated a “hold” rating on shares of Norfolk Southern Corp. in a research note on Friday, September 9th. Argus reiterated a “buy” rating on shares of Norfolk Southern Corp. in a research note on Wednesday, August 3rd. Finally, Oppenheimer Holdings Inc. assumed coverage on Norfolk Southern Corp. in a report on Wednesday, June 15th. They set a “market perform” rating on the stock. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $90.98.
Shares of Norfolk Southern Corp. (NYSE:NSC) traded up 0.41% on Tuesday, hitting $96.22. The company’s stock had a trading volume of 615,760 shares. Norfolk Southern Corp. has a 52 week low of $64.51 and a 52 week high of $98.75. The stock’s 50-day moving average price is $93.73 and its 200-day moving average price is $88.24. The firm has a market cap of $28.25 billion, a price-to-earnings ratio of 18.02 and a beta of 1.27.
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Norfolk Southern Corp. (NYSE:NSC) last announced its quarterly earnings data on Wednesday, July 27th. The railroad operator reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.01. Norfolk Southern Corp. had a return on equity of 13.34% and a net margin of 15.88%. The company had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.51 billion. During the same quarter in the prior year, the business posted $1.41 EPS. The business’s revenue was down 9.5% compared to the same quarter last year. Equities analysts expect that Norfolk Southern Corp. will post $5.46 earnings per share for the current fiscal year.
In related news, VP James A. Hixon sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $94.15, for a total transaction of $941,500.00. Following the completion of the sale, the vice president now owns 129,074 shares of the company’s stock, valued at $12,152,317.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Thomas E. Hurlbut sold 528 shares of the firm’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $88.35, for a total value of $46,648.80. Following the sale, the vice president now directly owns 11,580 shares of the company’s stock, valued at approximately $1,023,093. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the company. Ngam Advisors L.P. boosted its stake in Norfolk Southern Corp. by 12.4% in the first quarter. Ngam Advisors L.P. now owns 29,867 shares of the railroad operator’s stock valued at $2,487,000 after buying an additional 3,289 shares in the last quarter. NN Investment Partners Holdings N.V. acquired a new stake in Norfolk Southern Corp. during the first quarter valued at approximately $158,000. Ropes Wealth Advisors LLC boosted its stake in Norfolk Southern Corp. by 125.9% in the first quarter. Ropes Wealth Advisors LLC now owns 5,517 shares of the railroad operator’s stock valued at $459,000 after buying an additional 3,075 shares in the last quarter. Smith Moore & CO. acquired a new stake in Norfolk Southern Corp. during the first quarter valued at approximately $234,000. Finally, AMF Pensionsforsakring AB boosted its stake in Norfolk Southern Corp. by 31.8% in the first quarter. AMF Pensionsforsakring AB now owns 55,100 shares of the railroad operator’s stock valued at $4,587,000 after buying an additional 13,300 shares in the last quarter. 67.90% of the stock is owned by institutional investors and hedge funds.
About Norfolk Southern Corp.
Norfolk Southern Corporation is a holding company engaged in the rail transportation business. The Company operates approximately 20,000 miles of road primarily in the East and Midwest. The Company is engaged in the rail transportation of raw materials, intermediate products and finished goods primarily in the Southeast, East and Midwest.
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