Norfolk Southern Corp. (NSC) Research Coverage Started at Vertical Research
Vertical Research assumed coverage on shares of Norfolk Southern Corp. (NYSE:NSC) in a report published on Tuesday, The Fly reports. The firm issued a sell rating on the railroad operator’s stock.
Several other research analysts have also recently issued reports on NSC. Deutsche Bank AG lowered their price objective on Norfolk Southern Corp. from $90.00 to $89.00 and set a hold rating for the company in a research report on Thursday, July 28th. Atlantic Securities began coverage on Norfolk Southern Corp. in a research report on Thursday, August 11th. They set a neutral rating and a $104.00 price objective for the company. Oppenheimer Holdings Inc. began coverage on Norfolk Southern Corp. in a research report on Wednesday, June 15th. They set a market perform rating for the company. BMO Capital Markets reaffirmed a market perform rating and set a $93.00 price objective on shares of Norfolk Southern Corp. in a research report on Thursday, July 7th. Finally, Citigroup Inc. reaffirmed a hold rating and set a $87.00 price objective on shares of Norfolk Southern Corp. in a research report on Friday, June 17th. Four research analysts have rated the stock with a sell rating, fourteen have given a hold rating and nine have assigned a buy rating to the stock. Norfolk Southern Corp. currently has an average rating of Hold and an average target price of $90.93.
Norfolk Southern Corp. (NYSE:NSC) opened at 94.82 on Tuesday. Norfolk Southern Corp. has a 12 month low of $64.51 and a 12 month high of $98.75. The company’s 50-day moving average price is $93.94 and its 200 day moving average price is $88.37. The stock has a market capitalization of $27.83 billion, a PE ratio of 17.76 and a beta of 1.27.
Norfolk Southern Corp. (NYSE:NSC) last issued its quarterly earnings results on Wednesday, July 27th. The railroad operator reported $1.36 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 the consensus estimate of $2.51 billion. During the same quarter in the prior year, the business earned $1.41 EPS. Norfolk Southern Corp.’s revenue was down 9.5% on a year-over-year basis. On average, analysts forecast that Norfolk Southern Corp. will post $5.46 earnings per share for the current fiscal year.
In other Norfolk Southern Corp. news, VP James A. Hixon sold 10,000 shares of the firm’s stock in a transaction 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 transaction, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Marta R. Stewart sold 3,064 shares of the firm’s stock in a transaction on Friday, August 19th. The stock was sold at an average price of $91.56, for a total value of $280,539.84. Following the transaction, the executive vice president now directly owns 10,766 shares of the company’s stock, valued at approximately $985,734.96. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Zions Bancorporation boosted its stake in Norfolk Southern Corp. by 90.4% in the second quarter. Zions Bancorporation now owns 1,369 shares of the railroad operator’s stock valued at $116,000 after buying an additional 650 shares during the period. Independent Portfolio Consultants Inc. boosted its stake in 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 valued at $124,000 after buying an additional 910 shares during the period. ClariVest Asset Management LLC acquired a new stake in Norfolk Southern Corp. during the second quarter valued at about $125,000. Oakworth Capital Inc. boosted its stake in Norfolk Southern Corp. by 46.5% in the second quarter. Oakworth Capital Inc. now owns 1,748 shares of the railroad operator’s stock valued at $147,000 after buying an additional 555 shares during the period. Finally, NN Investment Partners Holdings N.V. acquired a new stake in Norfolk Southern Corp. during the first quarter valued at about $158,000. 67.90% of the stock is owned by institutional investors.
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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