Norfolk Souther Corporation (NYSE:NSC) had its target price raised by research analysts at Loop Capital from $127.00 to $133.00 in a research note issued on Thursday, October 26th. The firm currently has a “hold” rating on the railroad operator’s stock. Loop Capital’s price target points to a potential upside of 4.60% from the company’s current price.
Other equities analysts have also issued reports about the stock. Credit Suisse Group restated a “buy” rating and issued a $143.00 price objective (up from $133.00) on shares of Norfolk Souther Corporation in a research report on Thursday, October 12th. They noted that the move was a valuation call. Royal Bank Of Canada restated a “sell” rating and issued a $117.00 price objective on shares of Norfolk Souther Corporation in a research report on Tuesday, August 29th. ValuEngine upgraded shares of Norfolk Souther Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Deutsche Bank AG lowered shares of Norfolk Souther Corporation from a “buy” rating to a “hold” rating and cut their price objective for the company from $132.00 to $104.00 in a research report on Monday, July 31st. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $124.00 target price (up from $122.00) on shares of Norfolk Souther Corporation in a research report on Thursday, July 27th. Four investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $127.70.
Norfolk Souther Corporation (NYSE:NSC) traded down $0.84 during midday trading on Thursday, reaching $127.15. 1,301,000 shares of the company were exchanged, compared to its average volume of 1,784,874. Norfolk Souther Corporation has a 1-year low of $98.92 and a 1-year high of $134.52. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.83 and a quick ratio of 0.73. The stock has a market capitalization of $36,383.82, a P/E ratio of 19.99, a PEG ratio of 1.64 and a beta of 1.37.
Norfolk Souther Corporation (NYSE:NSC) last posted its quarterly earnings data on Wednesday, October 25th. The railroad operator reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.11. The business had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $2.65 billion. Norfolk Souther Corporation had a net margin of 17.86% and a return on equity of 14.72%. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.55 earnings per share. research analysts predict that Norfolk Souther Corporation will post 6.46 earnings per share for the current fiscal year.
Norfolk Souther Corporation announced that its Board of Directors has approved a share buyback plan on Tuesday, September 26th that allows the company to buyback 50,000,000 outstanding shares. This buyback authorization allows the railroad operator to reacquire shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.
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In related news, Chairman James A. Squires sold 24,407 shares of the company’s stock in a transaction dated 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 transaction, the chairman now owns 76,481 shares in the company, valued at approximately $9,173,895.95. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Michael Joseph Wheeler sold 3,568 shares of the company’s stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $133.00, for a total transaction of $474,544.00. Following the completion of the transaction, the chief operating officer now owns 15,837 shares in the company, valued at approximately $2,106,321. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,645 shares of company stock worth $3,719,075. Company insiders own 0.36% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Brown Advisory Inc. boosted its stake in Norfolk Souther Corporation by 0.9% in the 3rd quarter. Brown Advisory Inc. now owns 82,266 shares of the railroad operator’s stock worth $10,878,000 after purchasing an additional 727 shares in the last quarter. InterOcean Capital LLC lifted its stake in Norfolk Souther Corporation by 5.7% during the 3rd quarter. InterOcean Capital LLC now owns 55,802 shares of the railroad operator’s stock valued at $7,379,000 after acquiring an additional 3,003 shares during the period. Tiedemann Wealth Management LLC lifted its stake in Norfolk Souther Corporation by 16.2% during the 3rd quarter. Tiedemann Wealth Management LLC now owns 3,889 shares of the railroad operator’s stock valued at $208,000 after acquiring an additional 542 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in Norfolk Souther Corporation by 2.6% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 1,007,345 shares of the railroad operator’s stock valued at $133,212,000 after acquiring an additional 25,351 shares during the period. Finally, Commonwealth Bank of Australia lifted its stake in Norfolk Souther Corporation by 2,921.5% during the 3rd quarter. Commonwealth Bank of Australia now owns 1,277,777 shares of the railroad operator’s stock valued at $168,353,000 after acquiring an additional 1,235,488 shares during the period. Institutional investors own 70.88% of the company’s stock.
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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