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NSC

Norfolk Southern

$188.85

2.68 (1.44%)

08:04
10/23/19
10/23
08:04
10/23/19
08:04

Norfolk Southern says Q3 results include $32M write-off of a receivable

The company said, "Third-quarter net income was $657 million and diluted earnings per share were $2.49. The operating ratio for the quarter was 64.9%, a third-quarter record for NS. These results include a $32 million write-off of a receivable resulting from a legal dispute, which unfavorably impacted the operating ratio by 110 basis points and earnings per share by $0.09."

  • 23

    Oct

NSC Norfolk Southern
$188.85

2.68 (1.44%)

07/10/19
GSCO
07/10/19
INITIATION
Target $237
GSCO
Conviction Buy
Norfolk Southern initiated with a Conviction Buy at Goldman Sachs
Goldman Sachs analyst Jordan Alliger started Norfolk Southern with a Buy rating and added the shares to the firm's Americas Conviction List. Alliger put a $237 price target on the shares. Norfolk shares still offer upside in the context of the company's recent PSR implementation, the analyst tells investors in a research note. He believes the company remains the rail with the most to gain from PSR in terms of moving its operating ratio closer to current industry norms.
07/17/19
07/17/19
DOWNGRADE

Norfolk Southern downgraded to Hold from Buy at Cascend Securities
07/17/19
CSND
07/17/19
DOWNGRADE
CSND
Hold
Cascend downgrades four rails on weakening intermodal traffic
Cascend Securities downgraded four names in the rail space, CSX (CSX), Norfolk Southern (NSC), Kansas City Southern (KSU), and Union Pacific (UNP), to Hold after three years at Buy. Intermodal traffic is down since February, and it doesn't look like a "pause," Cascend tells investors in a research note. Further, industrial equipment imports into the U.S. has suddenly declined sharply, adds the firm, which notes that CSX last night called the economic backdrop "puzzling."
10/04/19
JPMS
10/04/19
NO CHANGE
JPMS
JPMorgan downgrades CSX and Echo Global, upgrades Hub Group
JPMorgan analyst Brian Ossenbeck downgraded both CSX (CSX) and Echo Global (ECHO) to Neutral from Overweight while upgrading Hub Group (HUBG) to Overweight from Neutral. The analyst sees downside risk to 2020 consensus estimates across the Transportation & Logistics sector. However, the truckload carriers should navigate the revisions well as the full truckload rate cycle gains momentum with help from the full implementation of electronic logging devices in mid-December, Ossenbeck tells investors in a research note. His upgrade of Hub Group to Overweight reflects his preference to add full truckload rate exposure at a "reasonable valuation." Further, the company's diverse business model should continue beating expectations in 2020, contends the analyst, who notes that Hub is now his top SMID cap idea. Ossenbeck's downgrade of Echo is based on expectations for continued margin compression in 2020 from its increasing tech investments and narrowing contract/spot spreads. His downgrade of CSX is based on valuation after the company's "tremendous run." The analyst's top rail pick remains Norfolk Southern (NSC).

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