Monthly Stock Report: Norfolk Southern Corporation (NSC)
Publication Date: September 22, 2024
Company Overview
Norfolk Southern Corporation (NSC), headquartered in Atlanta, Georgia, stands as a leader in the rail transportation industry. Founded in 1980, NSC operates an extensive network of approximately 19,100 route miles spanning 22 states and the District of Columbia. The company facilitates the transportation of a diverse range of products, including agricultural goods, chemicals, metals, automotive parts, and overseas freight through vital Atlantic and Gulf Coast ports. As a prominent entity in the Industrials sector, NSC has been a significant market player since its addition in 1957, showcasing a rich history and robust operational capabilities.
Financial Performance and Investment Outlook
The railroad industry presents compelling investment opportunities, characterized by a total revenue of $12.09 billion from major players. Analysts maintain an optimistic sentiment toward the sector, with NSC’s stock price currently at $247.86 and a bullish target high price set at $292.00. This suggests a potential upside for investors. Furthermore, the target mean price of $262.96 underscores expectations for moderate growth. With 226,096,000 shares outstanding and only 1,946,010 shares short (a mere 0.0086% of the float), the stock reflects favorable liquidity conditions, indicating that the majority of its shares are actively traded rather than held in short positions, which contributes to a stable outlook for the company.
Stock Performance Trends
Recent trends indicate positive momentum for NSC shares. The current price sits above the fifty-day moving average of $242.82, coupled with a proximity to the fifty-two week high of $263.66, which reinforces bullish investor sentiment. Furthermore, the analysts’ consensus, which is rooted in 22 opinions with a mean recommendation rating of 2.4 (indicating a strong buy), highlights confidence in NSC’s future performance. Overall, the outlook for Norfolk Southern Corporation remains favorable, poised for growth within a stable and essential segment of the economy.
| Metric | Value |
|---|---|
| Market Cap | $56.0b |
| Total Debt | $18.1b |
| Total Cash | $659.0m |
| Shares Outstanding | 226.1m |
| Float Shares | 225.6m |
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