Norfolk Southern Corp. (NSC) reported quarterly earnings results on Wednesday, Jul-27-2016. The company said it had a profit of $1.36 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $1.35. The company posted revenue of $2454.00 million in the period, compared to analysts expectations of $2475.41 million. The company’s revenue was down -9.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.41 EPS.
Many Wall Street Analysts have commented on Norfolk Southern Corp.. Norfolk Southern Corp. was Resumed by Morgan Stanley to “Underweight” on Jun 3, 2016. Norfolk Southern Corp. was Initiated by Credit Agricole to “Outperform” on May 19, 2016.
Norfolk Southern Corp. closed down -0.12 points or -0.13% at $90.02 with 12,26,047 shares getting traded on Thursday. Post opening the session at $89.75, the shares hit an intraday low of $88.88 and an intraday high of $91.03 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.
In a different news, on May 6, 2016, Thomas E Hurlbut (Vice President and Controller) sold 668 shares at $89.92 per share price. According to the SEC, on Apr 26, 2016, Cynthia C Earhart (Exec. VP – Admin. and CIO) sold 6,500 shares at $90.04 per share price. On Aug 14, 2015, Wesley G Bush (director) purchased 3,000 shares at $81.38 per share price, according to the Form-4 filing with the securities and exchange commission.
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.