Norfolk Southern Corp. (NSC) Cut to “Underperform” at Avondale Partners
Norfolk Southern Corp. (NYSE:NSC) was downgraded by research analysts at Avondale Partners to an “underperform” rating in a report released on Wednesday.
A number of other equities research analysts have also recently issued reports on the company. Zacks Investment Research cut Norfolk Southern Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, October 5th. Citigroup Inc. boosted their price objective on Norfolk Southern Corp. from $87.00 to $97.00 and gave the company a “neutral” rating in a research note on Tuesday, September 13th. Credit Suisse Group AG lowered their price objective on Norfolk Southern Corp. from $99.00 to $97.00 and set an “outperform” rating on the stock in a research note on Thursday, July 28th. Loop Capital restated a “hold” rating on shares of Norfolk Southern Corp. in a research note on Friday, September 9th. Finally, Barclays PLC lowered their price objective on Norfolk Southern Corp. from $104.00 to $92.00 and set an “equal weight” rating on the stock in a research note on Monday, September 12th. Four research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and nine have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $90.98.
Shares of Norfolk Southern Corp. (NYSE:NSC) opened at 94.67 on Wednesday. Norfolk Southern Corp. has a 1-year low of $64.51 and a 1-year high of $98.75. The firm has a market capitalization of $27.79 billion, a P/E ratio of 17.73 and a beta of 1.27. The stock has a 50 day moving average of $93.82 and a 200-day moving average of $88.28.
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Norfolk Southern Corp. (NYSE:NSC) last released its earnings results on Wednesday, July 27th. The railroad operator reported $1.36 EPS for the quarter, topping the Zacks’ consensus estimate of $1.35 by $0.01. The company had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.51 billion. Norfolk Southern Corp. had a return on equity of 13.34% and a net margin of 15.88%. The business’s revenue for the quarter was down 9.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.41 EPS. On average, equities analysts expect that Norfolk Southern Corp. will post $5.46 earnings per share for the current year.
In related news, EVP Marta R. Stewart sold 3,064 shares of the company’s stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $91.56, for a total transaction of $280,539.84. Following the completion of the transaction, the executive vice president now owns 10,766 shares in the company, valued at $985,734.96. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP James A. Hixon sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $94.15, for a total value of $941,500.00. Following the transaction, the vice president now owns 129,074 shares of the company’s stock, valued at approximately $12,152,317.10. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Sun Life Financial INC acquired a new position in shares of Norfolk Southern Corp. during the first quarter worth approximately $72,344,000. Zions Bancorporation increased its position in shares of Norfolk Southern Corp. by 90.4% in the second quarter. Zions Bancorporation now owns 1,369 shares of the railroad operator’s stock worth $116,000 after buying an additional 650 shares in the last quarter. Independent Portfolio Consultants Inc. increased its position in shares of Norfolk Southern Corp. by 165.5% in the second quarter. Independent Portfolio Consultants Inc. now owns 1,460 shares of the railroad operator’s stock worth $124,000 after buying an additional 910 shares in the last quarter. ClariVest Asset Management LLC acquired a new position in shares of Norfolk Southern Corp. during the second quarter worth approximately $125,000. Finally, Oakworth Capital Inc. increased its position in shares of Norfolk Southern Corp. by 46.5% in the second quarter. Oakworth Capital Inc. now owns 1,748 shares of the railroad operator’s stock worth $147,000 after buying an additional 555 shares in the last quarter. Institutional investors own 67.90% of the company’s stock.
Norfolk Southern Corp. Company Profile
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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