Norfolk Southern Corp. (NSC) Given Average Rating of “Hold” by Brokerages

Norfolk Southern Corp. (NYSE:NSC) has been given a consensus recommendation of “Hold” by the twenty-three ratings firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $171.20.

A number of equities research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Norfolk Southern from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a research report on Tuesday, June 26th. Citigroup upgraded shares of Norfolk Southern from a “neutral” rating to a “buy” rating and set a $176.00 price target for the company in a research report on Monday, June 25th. Stifel Nicolaus lifted their price target on shares of Norfolk Southern from $159.00 to $176.00 and gave the company a “hold” rating in a research report on Thursday, July 26th. Scotiabank set a $175.00 price target on shares of Norfolk Southern and gave the company a “buy” rating in a research report on Wednesday, July 25th. Finally, Cowen reiterated a “buy” rating and set a $188.00 price target on shares of Norfolk Southern in a research report on Wednesday, July 25th.

In related news, VP Cynthia C. Earhart sold 2,370 shares of Norfolk Southern stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $175.09, for a total value of $414,963.30. Following the completion of the transaction, the vice president now owns 2,370 shares in the company, valued at $414,963.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman James A. Squires sold 34,077 shares of Norfolk Southern stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $171.73, for a total transaction of $5,852,043.21. Following the completion of the transaction, the chairman now owns 63,958 shares of the company’s stock, valued at approximately $10,983,507.34. The disclosure for this sale can be found here. Insiders own 0.23% of the company’s stock.

Several hedge funds have recently made changes to their positions in the stock. Verition Fund Management LLC lifted its stake in Norfolk Southern by 362.9% in the second quarter. Verition Fund Management LLC now owns 21,405 shares of the railroad operator’s stock worth $3,229,000 after acquiring an additional 16,781 shares during the last quarter. Independent Advisor Alliance lifted its stake in Norfolk Southern by 8.6% in the second quarter. Independent Advisor Alliance now owns 5,404 shares of the railroad operator’s stock worth $768,000 after acquiring an additional 427 shares during the last quarter. Trexquant Investment LP purchased a new position in Norfolk Southern in the second quarter worth approximately $7,436,000. Provident Investment Management Inc. lifted its stake in Norfolk Southern by 100.0% in the second quarter. Provident Investment Management Inc. now owns 7,434 shares of the railroad operator’s stock worth $1,122,000 after acquiring an additional 3,717 shares during the last quarter. Finally, First Command Financial Services Inc. lifted its stake in Norfolk Southern by 74.7% in the second quarter. First Command Financial Services Inc. now owns 7,038 shares of the railroad operator’s stock worth $1,062,000 after acquiring an additional 3,010 shares during the last quarter. Hedge funds and other institutional investors own 72.47% of the company’s stock.

Norfolk Southern stock traded down $3.50 during midday trading on Wednesday, hitting $168.85. 167,878 shares of the stock were exchanged, compared to its average volume of 1,777,204. Norfolk Southern has a fifty-two week low of $125.59 and a fifty-two week high of $186.91. The stock has a market cap of $50.55 billion, a P/E ratio of 25.53, a PEG ratio of 1.65 and a beta of 1.39. The company has a current ratio of 0.81, a quick ratio of 0.70 and a debt-to-equity ratio of 0.55.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Wednesday, July 25th. The railroad operator reported $2.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.31 by $0.19. Norfolk Southern had a net margin of 52.36% and a return on equity of 14.53%. The firm had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.87 billion. During the same period last year, the business earned $1.71 earnings per share. Norfolk Southern’s revenue was up 9.9% compared to the same quarter last year. As a group, analysts forecast that Norfolk Southern will post 9.14 EPS for the current year.

Norfolk Southern Company Profile

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. It also transports overseas freight through various Atlantic and Gulf Coast ports, as well as coal, automotive, and industrial products; and provides commuter passenger services.

Read More: Google Finance Portfolio Workaround

Analyst Recommendations for Norfolk Southern (NYSE:NSC)

Receive News & Ratings for Norfolk Southern Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Norfolk Southern and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply