Norfolk Souther Corporation’s (NSC) Hold Rating Reaffirmed at Aegis

Aegis reissued their hold rating on shares of Norfolk Souther Corporation (NYSE:NSC) in a report published on Tuesday. The firm currently has a $125.00 target price on the railroad operator’s stock, up from their prior target price of $120.00.

Several other research analysts also recently commented on NSC. Scotiabank downgraded shares of Norfolk Souther Corporation from a sector outperform rating to a sector perform rating in a report on Thursday, July 6th. Cowen and Company reiterated a buy rating and issued a $130.00 target price on shares of Norfolk Souther Corporation in a report on Tuesday, July 11th. Credit Suisse Group reiterated an outperform rating and issued a $139.00 target price (up previously from $133.00) on shares of Norfolk Souther Corporation in a report on Thursday, July 13th. They noted that the move was a valuation call. Stephens reiterated an overweight rating and issued a $140.00 target price (down previously from $147.00) on shares of Norfolk Souther Corporation in a report on Thursday, July 27th. Finally, BidaskClub downgraded shares of Norfolk Souther Corporation from a hold rating to a sell rating in a report on Thursday, July 27th. Five equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $113.29.

Shares of Norfolk Souther Corporation (NYSE:NSC) traded up 0.55% during mid-day trading on Tuesday, reaching $130.71. The company had a trading volume of 175,733 shares. Norfolk Souther Corporation has a 52-week low of $89.95 and a 52-week high of $133.81. The company’s 50-day moving average is $126.40 and its 200 day moving average is $119.88. The stock has a market capitalization of $37.67 billion, a P/E ratio of 21.25 and a beta of 1.38.

Norfolk Souther Corporation (NYSE:NSC) last announced its earnings results on Wednesday, July 26th. The railroad operator reported $1.71 EPS for the quarter, topping the consensus estimate of $1.65 by $0.06. The firm had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.64 billion. Norfolk Souther Corporation had a net margin of 17.66% and a return on equity of 14.45%. The business’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.36 EPS. Analysts anticipate that Norfolk Souther Corporation will post $6.34 EPS for the current fiscal year.

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Norfolk Souther Corporation declared that its board has initiated a stock repurchase program on Tuesday, September 26th that authorizes the company to buyback 50,000,000 outstanding shares. This buyback authorization authorizes the railroad operator to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Monday, August 7th were issued a dividend of $0.61 per share. The ex-dividend date was Thursday, August 3rd. This represents a $2.44 annualized dividend and a dividend yield of 1.88%. Norfolk Souther Corporation’s payout ratio is 39.61%.

In other news, VP Thomas E. Hurlbut sold 300 shares of the business’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $118.80, for a total transaction of $35,640.00. Following the transaction, the vice president now owns 4,000 shares in the company, valued at approximately $475,200. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman James A. Squires sold 24,407 shares of the business’s stock in a transaction dated 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 owns 76,481 shares in the company, valued at approximately $9,173,895.95. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,077 shares of company stock worth $3,244,531. Insiders own 0.36% of the company’s stock.

Several large investors have recently bought and sold shares of the company. D Orazio & Associates Inc. boosted its position in shares of Norfolk Souther Corporation by 0.5% during the 1st quarter. D Orazio & Associates Inc. now owns 891 shares of the railroad operator’s stock valued at $100,000 after acquiring an additional 4 shares in the last quarter. Harbour Capital Advisors LLC boosted its position in shares of Norfolk Souther Corporation by 12,069.6% during the 2nd quarter. Harbour Capital Advisors LLC now owns 12,413 shares of the railroad operator’s stock valued at $102,000 after acquiring an additional 12,311 shares in the last quarter. Krilogy Financial LLC boosted its position in shares of Norfolk Souther Corporation by 2.6% during the 2nd quarter. Krilogy Financial LLC now owns 855 shares of the railroad operator’s stock valued at $104,000 after acquiring an additional 22 shares in the last quarter. AlphaMark Advisors LLC boosted its position in shares of Norfolk Souther Corporation by 20.7% during the 2nd quarter. AlphaMark Advisors LLC now owns 875 shares of the railroad operator’s stock valued at $106,000 after acquiring an additional 150 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its position in shares of Norfolk Souther Corporation by 35.3% during the 1st quarter. Parkside Financial Bank & Trust now owns 958 shares of the railroad operator’s stock valued at $107,000 after acquiring an additional 250 shares in the last quarter. Institutional investors own 70.60% 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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