Trading Report: Today, Norfolk Southern Corp. (NSC) Research Coverage Started at Vertical Research

Today, Norfolk Southern Corp. (NSC) Research Coverage Started at Vertical Research

Vertical Research assumed coverage on shares of Norfolk Southern Corp. (NYSE:NSC) in a research note published on Tuesday, The Fly reports. The brokerage issued a sell rating on the railroad operator’s stock.

Several other research firms have also recently commented on NSC. Zacks Investment Research raised Norfolk Southern Corp. from a hold rating to a buy rating and set a $109.00 price target for the company in a report on Friday, October 7th. Bank of America Corp. raised Norfolk Southern Corp. from a neutral rating to a buy rating and raised their price target for the company from $97.00 to $110.00 in a report on Tuesday, October 11th. Loop Capital reissued a hold rating on shares of Norfolk Southern Corp. in a report on Friday, September 9th. Citigroup Inc. raised 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. Finally, Barclays PLC dropped their price objective on Norfolk Southern Corp. from $104.00 to $92.00 and set an equal weight rating for the company in a research note on Monday, September 12th. Four investment 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 a consensus price target of $90.93.

Norfolk Southern Corp. (NYSE:NSC) opened at 94.97 on Tuesday. The firm’s 50-day moving average price is $94.02 and its 200-day moving average price is $88.46. The firm has a market cap of $27.88 billion, a price-to-earnings ratio of 17.79 and a beta of 1.27. Norfolk Southern Corp. has a 1-year low of $64.51 and a 1-year high of $98.75.

Norfolk Southern Corp. (NYSE:NSC) last posted its quarterly earnings results on Wednesday, July 27th. The railroad operator reported $1.36 EPS for the quarter, beating the consensus estimate of $1.35 by $0.01. The business earned $2.45 billion during 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 company’s quarterly revenue was down 9.5% compared to the same quarter last year. During the same period last year, the firm earned $1.41 EPS. On average, equities research analysts anticipate that Norfolk Southern Corp. will post $5.46 earnings per share for the current year.

In other news, VP Thomas E. Hurlbut sold 528 shares of Norfolk Southern Corp. stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $88.35, for a total transaction of $46,648.80. Following the sale, the vice president now directly owns 11,580 shares of the company’s stock, valued at $1,023,093. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Thomas E. Hurlbut sold 1,017 shares of Norfolk Southern Corp. stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $89.30, for a total value of $90,818.10. Following the sale, the vice president now directly owns 12,597 shares in the company, valued at $1,124,912.10. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Bank of Montreal Can purchased a new stake in shares of Norfolk Southern Corp. during the second quarter valued at $37,178,000. Skylands Capital LLC raised its stake in shares of Norfolk Southern Corp. by 10.2% in the second quarter. Skylands Capital LLC now owns 176,200 shares of the railroad operator’s stock valued at $15,000,000 after buying an additional 16,350 shares in the last quarter. Speece Thorson Capital Group Inc. raised its stake in shares of Norfolk Southern Corp. by 11.2% in the second quarter. Speece Thorson Capital Group Inc. now owns 126,476 shares of the railroad operator’s stock valued at $10,767,000 after buying an additional 12,782 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Norfolk Southern Corp. by 2.1% in the first quarter. Legal & General Group Plc now owns 1,307,343 shares of the railroad operator’s stock valued at $108,838,000 after buying an additional 26,895 shares in the last quarter. Finally, LS Investment Advisors LLC raised its stake in shares of Norfolk Southern Corp. by 1.2% in the second quarter. LS Investment Advisors LLC now owns 13,397 shares of the railroad operator’s stock valued at $1,140,000 after buying an additional 164 shares in the last quarter. 68.04% of the stock is currently owned by institutional investors and hedge funds.

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.

Related posts

Leave a Comment