Norfolk Southern (NSC) Rating Lowered to Neutral at Bank of America

Norfolk Southern (NYSE:NSC) was downgraded by investment analysts at Bank of America from a “buy” rating to a “neutral” rating in a report issued on Thursday, The Fly reports.

NSC has been the topic of a number of other research reports. Zacks Investment Research raised shares of Norfolk Southern from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a research note on Tuesday, June 26th. Stifel Nicolaus upped their price target on shares of Norfolk Southern from $159.00 to $176.00 and gave the company a “hold” rating in a research note on Thursday, July 26th. Credit Suisse Group upped their price target on shares of Norfolk Southern from $176.00 to $182.00 and gave the company an “outperform” rating in a research note on Thursday, July 26th. Citigroup raised shares of Norfolk Southern from a “neutral” rating to a “buy” rating and set a $176.00 price target on the stock in a research note on Monday, June 25th. Finally, UBS Group upped their price target on shares of Norfolk Southern from $182.00 to $189.00 and gave the company a “buy” rating in a research note on Thursday, July 26th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $171.20.

Norfolk Southern stock opened at $169.00 on Thursday. The firm has a market cap of $50.55 billion, a P/E ratio of 25.57, a price-to-earnings-growth ratio of 1.65 and a beta of 1.39. The company has a current ratio of 0.81, a quick ratio of 0.70 and a debt-to-equity ratio of 0.55. Norfolk Southern has a 52-week low of $125.59 and a 52-week high of $186.91.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Wednesday, July 25th. The railroad operator reported $2.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.31 by $0.19. The company had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.87 billion. Norfolk Southern had a net margin of 52.36% and a return on equity of 14.53%. Norfolk Southern’s revenue was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.71 earnings per share. On average, equities research analysts predict that Norfolk Southern will post 9.14 earnings per share for the current fiscal year.

In other Norfolk Southern news, Chairman James A. Squires sold 34,077 shares of the business’s stock in a transaction on Monday, August 13th. The shares were sold at an average price of $171.73, for a total transaction of $5,852,043.21. Following the transaction, the chairman now owns 63,958 shares in the company, valued at $10,983,507.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Cynthia C. Earhart sold 2,370 shares of the business’s stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $175.09, for a total transaction of $414,963.30. Following the transaction, the vice president now owns 2,370 shares in the company, valued at approximately $414,963.30. The disclosure for this sale can be found here. Insiders own 0.23% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Aperio Group LLC grew its holdings in shares of Norfolk Southern by 3.3% in the third quarter. Aperio Group LLC now owns 179,652 shares of the railroad operator’s stock worth $32,427,000 after purchasing an additional 5,741 shares during the last quarter. BB&T Corp grew its holdings in shares of Norfolk Southern by 50.2% in the third quarter. BB&T Corp now owns 75,983 shares of the railroad operator’s stock worth $13,716,000 after purchasing an additional 25,398 shares during the last quarter. Coastline Trust Co bought a new position in shares of Norfolk Southern in the third quarter worth about $235,000. Nisa Investment Advisors LLC grew its holdings in shares of Norfolk Southern by 7.9% in the third quarter. Nisa Investment Advisors LLC now owns 138,797 shares of the railroad operator’s stock worth $25,053,000 after purchasing an additional 10,118 shares during the last quarter. Finally, RWC Asset Management LLP bought a new position in shares of Norfolk Southern in the third quarter worth about $21,841,000. Hedge funds and other institutional investors own 72.47% of the company’s stock.

Norfolk Southern Company Profile

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. It also transports overseas freight through various Atlantic and Gulf Coast ports, as well as coal, automotive, and industrial products; and provides commuter passenger services.

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