Stifel Nicolaus Reaffirms “Hold” Rating for Norfolk Souther Corporation (NSC)
Norfolk Souther Corporation (NYSE:NSC)‘s stock had its “hold” rating reaffirmed by stock analysts at Stifel Nicolaus in a research report issued on Tuesday. They currently have a $124.00 price objective on the railroad operator’s stock. Stifel Nicolaus’ price target would indicate a potential downside of 1.91% from the stock’s current price.
Other analysts also recently issued research reports about the stock. ValuEngine raised shares of Norfolk Souther Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Credit Suisse Group reaffirmed an “outperform” rating and issued a $133.00 price objective on shares of Norfolk Souther Corporation in a report on Sunday, May 28th. Deutsche Bank AG downgraded shares of Norfolk Souther Corporation from a “buy” rating to a “hold” rating and dropped their price objective for the company from $132.00 to $104.00 in a report on Monday, July 31st. Royal Bank Of Canada reiterated a “sell” rating and issued a $117.00 target price on shares of Norfolk Souther Corporation in a research note on Tuesday, August 29th. Finally, Stephens reiterated an “overweight” rating and issued a $140.00 target price (down from $147.00) on shares of Norfolk Souther Corporation in a research note on Thursday, July 27th. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $112.59.
Norfolk Souther Corporation (NSC) traded up 0.15% during trading on Tuesday, reaching $126.61. 299,395 shares of the company were exchanged. The company’s 50-day moving average price is $117.91 and its 200-day moving average price is $117.98. The stock has a market capitalization of $36.49 billion, a P/E ratio of 20.57 and a beta of 1.32. Norfolk Souther Corporation has a 1-year low of $89.92 and a 1-year high of $126.98.
Norfolk Souther Corporation (NYSE:NSC) last announced its quarterly earnings data on Wednesday, July 26th. The railroad operator reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.06. Norfolk Souther Corporation had a net margin of 17.66% and a return on equity of 14.45%. The company had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.64 billion. During the same quarter last year, the business posted $1.36 EPS. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. On average, equities analysts forecast that Norfolk Souther Corporation will post $6.32 EPS for the current year.
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In related news, COO Michael Joseph Wheeler sold 2,370 shares of the company’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $118.68, for a total transaction of $281,271.60. Following the sale, the chief operating officer now directly owns 13,492 shares of the company’s stock, valued at approximately $1,601,230.56. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman James A. Squires sold 24,407 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $119.95, for a total value of $2,927,619.65. Following the sale, the chairman now directly owns 76,481 shares in the company, valued at $9,173,895.95. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,077 shares of company stock valued at $3,244,531. Company insiders own 0.36% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of NSC. BlackRock Inc. increased its position in Norfolk Souther Corporation by 3,039.1% in the first quarter. BlackRock Inc. now owns 19,551,432 shares of the railroad operator’s stock worth $2,189,172,000 after buying an additional 18,928,598 shares during the period. Alliancebernstein L.P. grew its stake in shares of Norfolk Souther Corporation by 936.1% in the first quarter. Alliancebernstein L.P. now owns 5,378,457 shares of the railroad operator’s stock worth $602,226,000 after purchasing an additional 4,859,355 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Norfolk Souther Corporation by 31.8% in the first quarter. JPMorgan Chase & Co. now owns 4,209,269 shares of the railroad operator’s stock worth $471,313,000 after purchasing an additional 1,016,319 shares in the last quarter. Lazard Asset Management LLC grew its stake in shares of Norfolk Souther Corporation by 17.1% in the second quarter. Lazard Asset Management LLC now owns 6,343,533 shares of the railroad operator’s stock worth $772,007,000 after purchasing an additional 925,496 shares in the last quarter. Finally, Investec Asset Management LTD bought a new position in shares of Norfolk Souther Corporation in the first quarter worth $92,710,000. 70.64% of the stock is currently owned by hedge funds and other institutional investors.
About Norfolk Souther Corporation
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.
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