Norfolk Southern Corp. (NSC) was Upgraded by BofA/Merrill to ” Buy”. Earlier the firm had a rating of “Neutral ” on the company shares. BofA/Merrill advised their investors in a research report released on Oct 11, 2016.
On the company’s financial health, Norfolk Southern Corp. reported $1.36 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $1.35. The company had revenue of $2454.00 million for the quarter, 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.
Norfolk Southern Corp. closed down -0.67 points or -0.69% at $96.78 with 14,41,822 shares getting traded on Friday. Post opening the session at $97.3, the shares hit an intraday low of $96.05 and an intraday high of $97.395 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on Aug 31, 2016, James A Hixon (Exec. VP-Law & Corp. Relations) sold 10,000 shares at $94.15 per share price. According to the SEC, on Aug 25, 2016, Thomas E Hurlbut (Vice President and Controller) sold 850 shares at $92.28 per share price. On Aug 19, 2016, Marta R Stewart (EVP-Finance and CFO) sold 3,064 shares at $91.56 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.