Norfolk Southern Corp. (NSC) was Reiterated by Cowen to “Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 101 from a previous price target of $89 . Cowen advised their investors in a research report released on Apr 22, 2016.
Many Wall Street Analysts have commented on Norfolk Southern Corp.. Norfolk Southern Corp. was Resumed by BofA/Merrill to “Neutral” on Apr 13, 2016. Shares were Reiterated by Cowen on Jan 28, 2016 to “Outperform” and Lowered the Price Target to $ 89 from a previous price target of $93 .Shares were Reiterated by RBC Capital Mkts on Jan 28, 2016 to “Sector Perform” and Lowered the Price Target to $ 74 from a previous price target of $84 .
On the company’s financial health, Norfolk Southern Corp. reported $1.29 EPS for the quarter, beating the analyst consensus estimate by $ 0.32 according to the earnings call on Apr 21, 2016. Analyst had a consensus of $0.97. The company had revenue of $2420.00 million for the quarter, compared to analysts expectations of $2399.88 million. The company’s revenue was down -5.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.00 EPS.
Norfolk Southern Corp. closed down -0.53 points or -0.64% at $82.63 with 20,20,282 shares getting traded on Wednesday. Post opening the session at $83.27, the shares hit an intraday low of $82.57 and an intraday high of $84 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
In a different news, on Aug 14, 2015, Wesley G Bush (director) purchased 3,000 shares at $81.38 per share price. According to the SEC, on Mar 10, 2015, Thomas E Hurlbut (Vice President and Controller) sold 1,000 shares at $108.19 per share price.
Norfolk Southern Corporation is a holding company. The Company owns a freight railroad Norfolk Southern Railway Company. The Company is engaged in the rail transportation of raw materials intermediate products and finished goods primarily in the Southeast East and Midwest and through interchange with rail carriers to and from the rest of the United States. The Company also transports overseas freight through various Atlantic and Gulf Coast ports. It provides logistics services and offers an intermodal network in the eastern half of the United States. The Company’s system reaches various individual industries electric generating facilities mines distribution centers transload facilities and other businesses located in its service area. The Company’s general merchandise market group is composed of five commodity groupings: chemicals; metals and construction; agriculture consumer products and Government; automotive and paper clay and forest products.