Norfolk Souther Corporation (NSC) Upgraded to Buy by ValuEngine

ValuEngine upgraded shares of Norfolk Souther Corporation (NYSE:NSC) from a hold rating to a buy rating in a report published on Friday, September 1st.

Several other equities research analysts have also recently weighed in on the company. Royal Bank Of Canada reissued a sell rating and issued a $117.00 price objective on shares of Norfolk Souther Corporation in a research report on Tuesday, August 29th. UBS AG reissued a buy rating and issued a $133.00 price objective on shares of Norfolk Souther Corporation in a research report on Monday, August 14th. BidaskClub raised Norfolk Souther Corporation from a strong sell rating to a sell rating in a research report on Thursday, August 10th. Wolfe Research upgraded Norfolk Souther Corporation from a market perform rating to a buy rating and set a $126.00 target price for the company in a research note on Monday, August 7th. Finally, Cowen and Company restated an outperform rating and issued a $130.00 target price on shares of Norfolk Souther Corporation in a research note on Tuesday, August 1st. Four research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have assigned a buy rating to the company’s stock. Norfolk Souther Corporation currently has a consensus rating of Hold and a consensus target price of $115.00.

Norfolk Souther Corporation (NYSE:NSC) opened at 128.04 on Friday. Norfolk Souther Corporation has a 52-week low of $89.95 and a 52-week high of $128.09. The company’s 50-day moving average is $119.36 and its 200-day moving average is $118.26. The firm has a market capitalization of $36.90 billion, a price-to-earnings ratio of 20.81 and a beta of 1.32.

Norfolk Souther Corporation (NYSE:NSC) last announced its earnings results on Wednesday, July 26th. The railroad operator reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.06. The firm had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.64 billion. Norfolk Souther Corporation had a return on equity of 14.45% and a net margin of 17.66%. The company’s revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.36 earnings per share. Equities analysts predict that Norfolk Souther Corporation will post $6.32 earnings per share for the current year.

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The firm also recently declared a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Monday, August 7th were given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date was Thursday, August 3rd. Norfolk Souther Corporation’s dividend payout ratio is currently 39.61%.

In related news, COO Michael Joseph Wheeler sold 2,370 shares of Norfolk Souther Corporation stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $118.68, for a total value of $281,271.60. Following the sale, the chief operating officer now owns 13,492 shares of the company’s stock, valued at approximately $1,601,230.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Thomas E. Hurlbut sold 300 shares of Norfolk Souther Corporation stock in a transaction that occurred 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 sale, the vice president now directly owns 4,000 shares in the company, valued at approximately $475,200. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,077 shares of company stock worth $3,244,531. 0.36% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in Norfolk Souther Corporation by 3.6% in the 2nd quarter. BlackRock Inc. now owns 20,251,999 shares of the railroad operator’s stock valued at $2,464,667,000 after buying an additional 700,567 shares during the last quarter. Vanguard Group Inc. raised its position in Norfolk Souther Corporation by 3.2% in the 2nd quarter. Vanguard Group Inc. now owns 20,097,333 shares of the railroad operator’s stock valued at $2,445,845,000 after buying an additional 631,018 shares during the last quarter. State Street Corp raised its position in Norfolk Souther Corporation by 2.2% in the 1st quarter. State Street Corp now owns 12,960,797 shares of the railroad operator’s stock valued at $1,451,226,000 after buying an additional 281,088 shares during the last quarter. FMR LLC raised its position in Norfolk Souther Corporation by 13.0% in the 2nd quarter. FMR LLC now owns 6,618,986 shares of the railroad operator’s stock valued at $805,530,000 after buying an additional 762,416 shares during the last quarter. Finally, Lazard Asset Management LLC raised its position in Norfolk Souther Corporation by 17.1% in the 2nd quarter. Lazard Asset Management LLC now owns 6,343,533 shares of the railroad operator’s stock valued at $772,007,000 after buying an additional 925,496 shares during the last quarter. 70.64% of the stock is currently owned by institutional investors and hedge funds.

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.

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Analyst Recommendations for Norfolk Souther Corporation (NYSE:NSC)

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