Norfolk Souther Corporation (NYSE:NSC) had its price objective increased by equities research analysts at Citigroup Inc. from $124.00 to $135.00 in a research report issued on Wednesday. The brokerage presently has a “neutral” rating on the railroad operator’s stock. Citigroup Inc.’s price target would suggest a potential upside of 2.61% from the company’s previous close.

Other equities research analysts have also recently issued reports about the stock. Zacks Investment Research upgraded shares of Norfolk Souther Corporation from a “hold” rating to a “buy” rating and set a $134.00 price target for the company in a report on Tuesday, June 27th. ValuEngine lowered shares of Norfolk Souther Corporation from a “buy” rating to a “hold” rating in a report on Monday. Cowen and Company reiterated a “buy” rating and set a $130.00 price objective on shares of Norfolk Souther Corporation in a report on Tuesday, July 11th. Royal Bank Of Canada reissued a “sell” rating and set a $117.00 price objective on shares of Norfolk Souther Corporation in a research report on Tuesday, August 29th. Finally, Scotiabank cut shares of Norfolk Souther Corporation from a “sector outperform” rating to a “sector perform” rating in a research report on Thursday, July 6th. Five equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have issued a buy rating to the stock. Norfolk Souther Corporation presently has a consensus rating of “Hold” and a consensus price target of $113.82.

Norfolk Souther Corporation (NSC) opened at 131.57 on Wednesday. The firm has a 50-day moving average price of $124.72 and a 200-day moving average price of $119.20. The firm has a market capitalization of $37.92 billion, a PE ratio of 21.38 and a beta of 1.38. Norfolk Souther Corporation has a 1-year low of $89.95 and a 1-year high of $133.81.

Norfolk Souther Corporation (NYSE:NSC) last issued its quarterly earnings results on Wednesday, July 26th. The railroad operator reported $1.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.65 by $0.06. Norfolk Souther Corporation had a return on equity of 14.45% and a net margin of 17.66%. The firm had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.64 billion. During the same period last year, the business posted $1.36 EPS. The business’s revenue was up 7.5% compared to the same quarter last year. Equities analysts expect that Norfolk Souther Corporation will post $6.33 earnings per share for the current fiscal year.

Norfolk Souther Corporation announced that its Board of Directors has approved a share buyback program on Tuesday, September 26th that allows the company to buyback 50,000,000 outstanding shares. This buyback authorization allows the railroad operator to repurchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

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In other Norfolk Souther Corporation news, Chairman James A. Squires sold 24,407 shares of the company’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $119.95, for a total value of $2,927,619.65. Following the completion of the transaction, the chairman now owns 76,481 shares in the company, valued at approximately $9,173,895.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Thomas E. Hurlbut sold 300 shares of the company’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $118.80, for a total value of $35,640.00. Following the completion of the transaction, the vice president now owns 4,000 shares of the company’s stock, valued at approximately $475,200. The disclosure for this sale can be found here. Insiders have sold 27,077 shares of company stock worth $3,244,531 over the last quarter. 0.36% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Berkshire Asset Management raised its position in Norfolk Souther Corporation by 1.7% in the fourth quarter. Berkshire Asset Management now owns 66,916 shares of the railroad operator’s stock worth $5,660,000 after acquiring an additional 1,122 shares during the period. McQueen, Ball & Associates purchased a new position in Norfolk Souther Corporation in the fourth quarter valued at approximately $1,508,000. Chicago Trust Company lifted its stake in Norfolk Souther Corporation by 2.7% in the fourth quarter. Chicago Trust Company now owns 20,416 shares of the railroad operator’s stock valued at $1,727,000 after purchasing an additional 546 shares during the last quarter. Blue Chip Partners Inc. lifted its stake in Norfolk Souther Corporation by 9.7% in the fourth quarter. Blue Chip Partners Inc. now owns 23,580 shares of the railroad operator’s stock valued at $1,995,000 after purchasing an additional 2,089 shares during the last quarter. Finally, Country Club Trust Company n.a. purchased a new position in Norfolk Souther Corporation in the fourth quarter valued at approximately $263,000. Institutional investors own 70.60% of the company’s stock.

Norfolk Souther Corporation Company Profile

Norfolk Southern Corporation is a holding company engaged in the rail transportation business. As of December 31, 2016, the Company operated approximately 19,500 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.

Analyst Recommendations for Norfolk Souther Corporation (NYSE:NSC)

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