Cowen and Company Reaffirms Outperform Rating for Norfolk Souther Corporation (NSC)

Norfolk Souther Corporation (NYSE:NSC)‘s stock had its “outperform” rating reaffirmed by equities researchers at Cowen and Company in a research note issued to investors on Tuesday, August 1st. They currently have a $130.00 price target on the railroad operator’s stock. Cowen and Company’s target price would suggest a potential upside of 9.58% from the stock’s current price.

Several other equities analysts have also issued reports on NSC. Scotiabank lowered Norfolk Souther Corporation from a “sector outperform” rating to a “sector perform” rating in a research report on Thursday, July 6th. Zacks Investment Research upgraded Norfolk Souther Corporation from a “hold” rating to a “buy” rating and set a $134.00 target price on the stock in a research note on Tuesday, June 27th. Stifel Nicolaus increased their price target on Norfolk Souther Corporation from $114.00 to $122.00 and gave the company a “hold” rating in a research note on Monday, May 1st. UBS AG restated a “buy” rating and set a $138.00 price objective (up from $135.00) on shares of Norfolk Souther Corporation in a research report on Friday, April 28th. Finally, BidaskClub downgraded Norfolk Souther Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have issued a buy rating to the company’s stock. Norfolk Souther Corporation presently has a consensus rating of “Hold” and a consensus target price of $112.35.

Norfolk Souther Corporation (NYSE:NSC) traded up 0.96% during trading on Tuesday, hitting $118.63. 1,448,245 shares of the stock traded hands. The firm’s 50-day moving average is $118.72 and its 200 day moving average is $118.14. The stock has a market cap of $34.19 billion, a P/E ratio of 19.28 and a beta of 1.33. Norfolk Souther Corporation has a 52 week low of $89.92 and a 52 week high of $125.31.

Norfolk Souther Corporation (NYSE:NSC) last announced its quarterly earnings data on Wednesday, July 26th. The railroad operator reported $1.71 EPS for the quarter, topping the Zacks’ consensus estimate of $1.65 by $0.06. The firm had revenue of $2.64 billion during the quarter, compared to analyst estimates 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 period last year, the company earned $1.36 earnings per share. Equities research analysts forecast that Norfolk Souther Corporation will post $6.32 earnings per share for the current fiscal year.

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In related news, VP Thomas E. Hurlbut sold 802 shares of Norfolk Souther Corporation stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $116.54, for a total transaction of $93,465.08. Following the sale, the vice president now directly owns 4,300 shares in the company, valued at approximately $501,122. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman James A. Squires sold 24,407 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $119.95, for a total transaction of $2,927,619.65. Following the transaction, 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. Corporate insiders own 0.36% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. TNB Financial purchased a new position in Norfolk Souther Corporation during the first quarter worth $433,000. Regentatlantic Capital LLC increased its stake in Norfolk Souther Corporation by 6.8% in the first quarter. Regentatlantic Capital LLC now owns 10,781 shares of the railroad operator’s stock valued at $1,207,000 after buying an additional 690 shares in the last quarter. Carroll Financial Associates Inc. increased its stake in Norfolk Souther Corporation by 7.7% in the first quarter. Carroll Financial Associates Inc. now owns 3,635 shares of the railroad operator’s stock valued at $407,000 after buying an additional 259 shares in the last quarter. Gulf International Bank UK Ltd increased its stake in Norfolk Souther Corporation by 1.4% in the first quarter. Gulf International Bank UK Ltd now owns 90,811 shares of the railroad operator’s stock valued at $10,168,000 after buying an additional 1,220 shares in the last quarter. Finally, Chesley Taft & Associates LLC increased its stake in Norfolk Souther Corporation by 13.2% in the first quarter. Chesley Taft & Associates LLC now owns 3,000 shares of the railroad operator’s stock valued at $336,000 after buying an additional 350 shares in the last quarter. Institutional investors own 70.51% of the company’s stock.

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.

Analyst Recommendations for Norfolk Souther Corporation (NYSE:NSC)

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