Norfolk Southern Corporation [NYSE: NSC] loss -1.53% or -3.31 points to close at $212.56 with a heavy trading volume of 1347938 shares. The company report on October 21, 2020 that New technology joint venture to transform rail shipping.
Today Norfolk Southern (NYSE: NSC), GATX Corporation, Genesee & Wyoming, TrinityRail, and Watco announced a venture to create a new technology platform that will help transform rail shipping in the 21st century. The new venture, Rail Pulse, will facilitate and accelerate the adoption of GPS and other telematics technology across the North American railcar fleet.
The Commonwealth of Pennsylvania provided leadership in a successful Consolidated Rail Infrastructure and Safety Improvements grant application. In addition to this Federal Railroad Administration funding, investments will be made by the Commonwealth of Pennsylvania and the venture members to support the development of this platform.
It opened the trading session at $214.50, the shares rose to $216.09 and dropped to $212.51, the range by which the price of stock traded the whole day. The daily chart for NSC points out that the company has recorded 36.38% gains over the past six months. However, it is still -88.74% lower than its most recent low trading price.
If we look at the average trading volume of 1.30M shares, NSC reached to a volume of 1347938 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Norfolk Southern Corporation [NSC]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NSC shares is $231.42 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NSC stock is a recommendation set at 2.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Barclays have made an estimate for Norfolk Southern Corporation shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on October 16, 2020. While these analysts kept the previous recommendation, Cowen raised their target price from $208 to $221. The new note on the price target was released on October 08, 2020, representing the official price target for Norfolk Southern Corporation stock. Previously, the target price had yet another raise to $250, while The Benchmark Company analysts kept a Buy rating on NSC stock.
The Average True Range (ATR) for Norfolk Southern Corporation is set at 5.19, with the Price to Sales ratio for NSC stock in the period of the last 12 months amounting to 5.31. The Price to Book ratio for the last quarter was 3.65, with the Price to Cash per share for the same quarter was set at 4.47. Price to Free Cash Flow for NSC in the course of the last twelve months was 57.24 with Quick ratio for the last quarter at 1.10.
Trading performance analysis for NSC stock
Norfolk Southern Corporation [NSC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.20. With this latest performance, NSC shares dropped by -1.77% in over the last four-week period, additionally plugging by 36.38% over the last 6 months – not to mention a rise of 12.49% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NSC stock in for the last two-week period is set at 44.91, with the RSI for the last a single of trading hit 41.66, and the three-weeks RSI is set at 49.31 for Norfolk Southern Corporation [NSC]. The present Moving Average for the last 50 days of trading for this stock 214.00, while it was recorded at 216.04 for the last single week of trading, and 187.10 for the last 200 days.
Norfolk Southern Corporation [NSC]: A deeper dive into fundamental analysis
Norfolk Southern Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.20.
Norfolk Southern Corporation [NSC]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Norfolk Southern Corporation posted 2.49/share EPS, while the average EPS was predicted by analysts to be reported at 2.58/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -3.50%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NSC. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Norfolk Southern Corporation go to 6.84%.
An analysis of insider ownership at Norfolk Southern Corporation [NSC]
There are presently around $40,072 million, or 75.90% of NSC stock, in the hands of institutional investors. The top three institutional holders of NSC stocks are: VANGUARD GROUP INC with ownership of 19,479,766, which is approximately -3.302% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 17,512,124 shares of the stock with an approximate value of $3.72 billion in NSC stocks shares; and JPMORGAN CHASE & CO, currently with $3.27 billion in NSC stock with ownership of nearly 14.511% of the company’s market capitalization.
498 institutional holders increased their position in Norfolk Southern Corporation [NYSE:NSC] by around 13,642,821 shares. Additionally, 606 investors decreased positions by around 14,809,159 shares, while 275 investors held positions by with 160,069,243 shares. The mentioned changes placed institutional holdings at 188,521,223 shares, according to the latest SEC report filing. NSC stock had 114 new institutional investments in for a total of 1,082,460 shares, while 77 institutional investors sold positions of 4,576,533 shares during the same period.