Credit Suisse Group Reaffirms Buy Rating for Norfolk Southern (NSC)

Credit Suisse Group reaffirmed their buy rating on shares of Norfolk Southern (NYSE:NSC) in a research note issued to investors on Wednesday. The firm currently has a $177.00 price target on the railroad operator’s stock.

A number of other equities research analysts also recently issued reports on the stock. Loop Capital downgraded shares of Norfolk Southern from a hold rating to a sell rating and set a $133.00 price objective for the company. in a research report on Monday, November 27th. Wells Fargo & Co downgraded shares of Norfolk Southern from an outperform rating to a market perform rating in a research report on Monday, October 16th. Robert W. Baird reaffirmed a hold rating and issued a $136.00 price objective on shares of Norfolk Southern in a research report on Friday, November 10th. Goldman Sachs Group assumed coverage on shares of Norfolk Southern in a research report on Monday, November 13th. They issued a neutral rating and a $126.00 price objective for the company. Finally, Morgan Stanley reaffirmed an underweight rating and issued a $75.00 price objective (down from $77.00) on shares of Norfolk Southern in a research report on Monday, October 2nd. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the stock. The company has an average rating of Hold and an average price target of $136.05.

Norfolk Southern (NYSE NSC) traded down $2.01 on Wednesday, hitting $151.40. 3,041,034 shares of the company were exchanged, compared to its average volume of 1,703,946. The company has a quick ratio of 0.73, a current ratio of 0.83 and a debt-to-equity ratio of 0.73. Norfolk Southern has a 12 month low of $109.27 and a 12 month high of $157.15. The firm has a market cap of $43,320.00, a price-to-earnings ratio of 24.07, a PEG ratio of 1.70 and a beta of 1.37.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Wednesday, October 25th. The railroad operator reported $1.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.64 by $0.11. Norfolk Southern had a net margin of 17.86% and a return on equity of 14.72%. The company had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.65 billion. During the same quarter in the prior year, the business posted $1.55 EPS. The firm’s revenue was up 5.8% compared to the same quarter last year. sell-side analysts predict that Norfolk Southern will post 6.48 earnings per share for the current fiscal year.

Norfolk Southern declared that its board has authorized a share buyback plan on Tuesday, September 26th that authorizes the company to buyback 50,000,000 shares. This buyback authorization authorizes the railroad operator to repurchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

In other news, VP Thomas E. Hurlbut sold 2,370 shares of the stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $134.71, for a total transaction of $319,262.70. Following the completion of the transaction, the vice president now directly owns 6,370 shares of the company’s stock, valued at approximately $858,102.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Thomas E. Hurlbut sold 6,175 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $129.61, for a total transaction of $800,341.75. Following the transaction, the vice president now directly owns 7,568 shares of the company’s stock, valued at $980,888.48. The disclosure for this sale can be found here. Insiders have sold a total of 12,113 shares of company stock valued at $1,594,148 over the last three months. Insiders own 0.36% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in NSC. Sawyer & Company Inc bought a new position in Norfolk Southern in the 4th quarter worth approximately $104,000. Krilogy Financial LLC boosted its holdings in Norfolk Southern by 2.6% in the 2nd quarter. Krilogy Financial LLC now owns 855 shares of the railroad operator’s stock worth $104,000 after buying an additional 22 shares during the period. AlphaMark Advisors LLC boosted its holdings in Norfolk Southern by 20.7% in the 2nd quarter. AlphaMark Advisors LLC now owns 875 shares of the railroad operator’s stock worth $106,000 after buying an additional 150 shares during the period. Harfst & Associates Inc. boosted its holdings in Norfolk Southern by 58.8% in the 2nd quarter. Harfst & Associates Inc. now owns 945 shares of the railroad operator’s stock worth $115,000 after buying an additional 350 shares during the period. Finally, QCI Asset Management Inc. NY boosted its holdings in Norfolk Southern by 0.5% in the 2nd quarter. QCI Asset Management Inc. NY now owns 1,099 shares of the railroad operator’s stock worth $134,000 after buying an additional 5 shares during the period. 72.45% of the stock is owned by hedge funds and other institutional investors.

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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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