Norfolk Souther Corporation (NYSE:NSC) – Research analysts at Seaport Global Securities increased their Q4 2017 earnings estimates for shares of Norfolk Souther Corporation in a research note issued to investors on Wednesday, Zacks Investment Research reports. Seaport Global Securities analyst M. Levin now expects that the railroad operator will earn $1.60 per share for the quarter, up from their previous forecast of $1.54.
Several other brokerages have also weighed in on NSC. Argus increased their price objective on shares of Norfolk Souther Corporation from $145.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, October 31st. Morgan Stanley restated an “underweight” rating and issued a $75.00 price target (down previously from $77.00) on shares of Norfolk Souther Corporation in a report on Monday, October 2nd. Wells Fargo & Company lowered shares of Norfolk Souther Corporation from an “outperform” rating to a “market perform” rating in a report on Monday, October 16th. ValuEngine lowered shares of Norfolk Souther Corporation from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Finally, Citigroup Inc. raised their price target on shares of Norfolk Souther Corporation from $124.00 to $135.00 and gave the company a “neutral” rating in a report on Wednesday, October 4th. Four equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $127.26.
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Shares of Norfolk Souther Corporation (NSC) traded down $0.84 during mid-day trading on Monday, hitting $127.15. 1,299,342 shares of the stock traded hands, compared to its average volume of 1,560,000. The stock has a market cap of $36,470.00, a price-to-earnings ratio of 20.33, a P/E/G ratio of 1.67 and a beta of 1.37. Norfolk Souther Corporation has a 1-year low of $98.92 and a 1-year high of $134.52. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.73 and a current ratio of 0.83.
Norfolk Souther Corporation (NYSE:NSC) last announced its quarterly earnings data on Wednesday, October 25th. The railroad operator reported $1.75 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.64 by $0.11. The business had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.65 billion. Norfolk Souther Corporation had a net margin of 17.86% and a return on equity of 14.72%. The company’s revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.55 EPS.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Friday, November 3rd will be given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date is Thursday, November 2nd. Norfolk Souther Corporation’s payout ratio is currently 38.79%.
Norfolk Souther Corporation announced that its board has initiated a share repurchase plan on Tuesday, September 26th that authorizes the company to repurchase 50,000,000 outstanding shares. This repurchase authorization authorizes the railroad operator to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
In other Norfolk Souther Corporation news, VP Thomas E. Hurlbut sold 300 shares of Norfolk Souther Corporation stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $118.80, for a total value of $35,640.00. Following the completion of the transaction, the vice president now owns 4,000 shares of the company’s stock, valued at $475,200. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman James A. Squires sold 24,407 shares of Norfolk Souther Corporation 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 completion of the transaction, the chairman now directly owns 76,481 shares of the company’s stock, valued at approximately $9,173,895.95. The disclosure for this sale can be found here. Insiders have sold 30,645 shares of company stock valued at $3,719,075 in the last three months. Corporate insiders own 0.36% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. D Orazio & Associates Inc. boosted its holdings in Norfolk Souther Corporation by 0.5% in the first quarter. D Orazio & Associates Inc. now owns 891 shares of the railroad operator’s stock worth $100,000 after purchasing an additional 4 shares during the period. Harbour Capital Advisors LLC boosted its holdings in Norfolk Souther Corporation by 12,069.6% in the second quarter. Harbour Capital Advisors LLC now owns 12,413 shares of the railroad operator’s stock worth $102,000 after purchasing an additional 12,311 shares during the period. Krilogy Financial LLC boosted its holdings in Norfolk Souther Corporation by 2.6% in the second quarter. Krilogy Financial LLC now owns 855 shares of the railroad operator’s stock worth $104,000 after purchasing an additional 22 shares during the period. AlphaMark Advisors LLC boosted its holdings in Norfolk Souther Corporation by 20.7% in the second quarter. AlphaMark Advisors LLC now owns 875 shares of the railroad operator’s stock worth $106,000 after purchasing an additional 150 shares during the period. Finally, Parallel Advisors LLC lifted its stake in Norfolk Souther Corporation by 29.2% in the first quarter. Parallel Advisors LLC now owns 974 shares of the railroad operator’s stock valued at $114,000 after buying an additional 220 shares during the last quarter. 71.13% of the stock is owned by hedge funds and other institutional investors.
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.
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