Wolfe Research Downgrades Norfolk Southern Corp. to Peer Perform

Brokerage firm Wolfe Research Downgrades its rating on Norfolk Southern Corp.(NSC). The shares have been rated Peer Perform. Previously, the analysts had a Outperform rating on the shares. The rating by the stock financial advisor at Wolfe Research was issued on Mar 15, 2017 in a research report to their Investors and Clients.

In a different note, Buckingham said it Initiates Coverage On Norfolk Southern Corp., according to a research note issued on Jan 18, 2017. In the research note, the firm Announces the price-target to $104 per share. The shares have been rated ‘Neutral’ by the firm.

Norfolk Southern Corp. (NSC) shares turned negative on Fridays trading session with the shares closing down -0.64 points or -0.55% at a volume of 47,96,585. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $115.74. The peak price level was also seen at $115.74 while the days lowest was $114.21. Finally the shares closed at $114.71. The 52-week high of the shares is $125 while the 52-week low is $78.15. According to the latest information available, the market cap of the company is $33,329 M.

Norfolk Southern Corp.(NSC) last announced its earnings results on Jan 25, 2017 for Fiscal Year 2016 and Q4.Company reported revenue of $2.490B. Analysts had an estimated revenue of $2.490B. Earnings per share were $1.42. Analysts had estimated an EPS of $1.36.

Several Insider Transactions has been reported to the SEC. On Feb 23, 2017, Marta R Stewart (EVP-Finance and CFO) sold 2,331 shares at $124.43 per share price.Also, On Feb 21, 2017, Thomas E Hurlbut (Vice President and Controller) sold 1,475 shares at $122.37 per share price.On Feb 8, 2017, William Andrew Galanko (SVP – Law and Corp. Comm.) sold 5,934 shares at $119.13 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.

Add Comment