Norfolk Southern Corp. (NSC) is Resumed by BofA/Merrill to Neutral

Norfolk Southern Corp. (NSC) was Resumed by BofA/Merrill to “Neutral”. BofA/Merrill advised their investors in a research report released on Apr 13, 2016.

Many Wall Street Analysts have commented on Norfolk Southern Corp.. 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 .Norfolk Southern Corp. was Downgraded by Buckingham Research to ” Neutral” on Jan 28, 2016.

On the company’s financial health, Norfolk Southern Corp. reported $1.20 EPS for the quarter, missing the analyst consensus estimate by $ -0.05 based on the information available during the earnings call on Jan 27, 2016. Analyst had a consensus of $1.25. The company had revenue of $2518.00 million for the quarter, compared to analysts expectations of $2552.90 million. The company’s revenue was down -12.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.64 EPS.

Norfolk Southern Corp. closed down -2.21 points or -2.71% at $79.28 with 31,42,900 shares getting traded on Monday. Post opening the session at $79.12, the shares hit an intraday low of $78.15 and an intraday high of $81.182 and the price fluctuated in this range throughout the day.Shares ended Monday 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.

Norfolk Southern Corp.

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