Monday, 2 October 2023

Business News

Norfolk Southern (NSC) Receives a Rating Update from a Top Analyst – TipRanks Financial Blog

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RBC Capital analyst Walter Spracklin maintained a Hold rating on Norfolk Southern (NSCResearch Report) yesterday and set a price target of $223.00. The company’s shares closed yesterday at $201.91.

Spracklin covers the Industrials sector, focusing on stocks such as Canadian National Railway, Union Pacific, and Canadian Pacific. According to TipRanks, Spracklin has an average return of 15.3% and a 63.40% success rate on recommended stocks.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Norfolk Southern with a $248.69 average price target.

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Based on Norfolk Southern’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $2.98 billion and a net profit of $356 million. In comparison, last year the company earned a revenue of $3.25 billion and had a net profit of $819 million

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Incoporated in 1980, Norfolk Southern Corp. is a transportation company, based in Virginia. It is engaged in the rail transportation of raw materials, intermediate products, and finished goods to and from the rest of the United States. The company transports industrial products, including chemicals, agriculture, and metals and construction materials; and coal, automobiles, and automotive parts. The company transports overseas freight through several Atlantic and Gulf Coast ports, and provides commuter passenger services.

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