Norfolk Southern (NSC) Lifted to “Buy” at Scotiabank

Norfolk Southern (NYSE:NSC) was upgraded by stock analysts at Scotiabank to a “buy” rating in a research report issued on Friday.

A number of other analysts also recently issued reports on NSC. Loop Capital lifted their target price on Norfolk Southern to $144.00 and gave the company a “sell” rating in a research report on Friday. Wells Fargo & Co downgraded Norfolk Southern from an “outperform” rating to a “market perform” rating in a research report on Monday, October 16th. Royal Bank of Canada reaffirmed a “sell” rating and issued a $137.00 target price on shares of Norfolk Southern in a research report on Tuesday. Aegis reaffirmed a “hold” rating and issued a $125.00 target price (up previously from $120.00) on shares of Norfolk Southern in a research report on Tuesday, October 10th. Finally, Citigroup lifted their target price on Norfolk Southern from $124.00 to $135.00 and gave the company a “neutral” rating in a research report on Wednesday, October 4th. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the company. Norfolk Southern has an average rating of “Hold” and an average target price of $131.30.

Norfolk Southern (NYSE NSC) traded up $2.42 on Friday, hitting $154.03. The company’s stock had a trading volume of 1,781,500 shares, compared to its average volume of 1,365,588. Norfolk Southern has a 1 year low of $105.89 and a 1 year high of $154.64. The firm has a market cap of $44,570.00, a P/E ratio of 24.49, a price-to-earnings-growth ratio of 1.75 and a beta of 1.37. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.83 and a quick ratio of 0.73.

Norfolk Southern (NYSE:NSC) last released its earnings results on Wednesday, October 25th. The railroad operator reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.11. The business had revenue of $2.67 billion for the quarter, compared to the consensus estimate of $2.65 billion. Norfolk Southern had a return on equity of 14.72% and a net margin of 17.86%. Norfolk Southern’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.55 earnings per share. research analysts expect that Norfolk Southern will post 6.47 EPS for the current year.

Norfolk Southern announced that its Board of Directors has initiated a share repurchase program on Tuesday, September 26th that permits the company to buyback 50,000,000 shares. This buyback authorization permits the railroad operator to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

In other news, VP Thomas E. Hurlbut sold 6,175 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $129.61, for a total transaction of $800,341.75. Following the completion of the sale, the vice president now owns 7,568 shares in the company, valued at $980,888.48. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Thomas E. Hurlbut sold 2,370 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $134.71, for a total value of $319,262.70. Following the sale, the vice president now owns 6,370 shares of the company’s stock, valued at approximately $858,102.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,113 shares of company stock valued at $1,594,148. Corporate insiders own 0.36% of the company’s stock.

Several large investors have recently modified their holdings of NSC. Investment Management of Virginia LLC boosted its holdings in shares of Norfolk Southern by 0.4% during the second quarter. Investment Management of Virginia LLC now owns 29,424 shares of the railroad operator’s stock worth $3,581,000 after acquiring an additional 106 shares during the period. Comprehensive Portfolio Management LLC bought a new stake in shares of Norfolk Southern in the second quarter valued at approximately $967,000. Marshall Wace North America L.P. boosted its stake in shares of Norfolk Southern by 1,140.7% in the second quarter. Marshall Wace North America L.P. now owns 29,206 shares of the railroad operator’s stock valued at $3,564,000 after buying an additional 26,852 shares during the period. State Board of Administration of Florida Retirement System boosted its stake in shares of Norfolk Southern by 1.5% in the second quarter. State Board of Administration of Florida Retirement System now owns 436,466 shares of the railroad operator’s stock valued at $53,118,000 after buying an additional 6,509 shares during the period. Finally, Federated Investors Inc. PA boosted its stake in shares of Norfolk Southern by 23.5% in the second quarter. Federated Investors Inc. PA now owns 247,044 shares of the railroad operator’s stock valued at $30,065,000 after buying an additional 47,085 shares during the period. Institutional investors own 72.45% of the company’s stock.

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Norfolk Southern 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.

Analyst Recommendations for Norfolk Southern (NYSE:NSC)

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