Is Buying Norfolk Southern Corporation (NSC) Here a Winning Strategy? The Stock Formed Multiple Top

Norfolk Southern Corporation (NYSE:NSC) Logo

Investors sentiment increased to 0.82 in 2019 Q1. Its up 0.10, from 0.72 in 2018Q4. It improved, as 47 investors sold Norfolk Southern Corporation shares while 386 reduced holdings. 114 funds opened positions while 240 raised stakes. 187.44 million shares or 11.77% less from 212.45 million shares in 2018Q4 were reported.
Fund Sa owns 0.03% invested in Norfolk Southern Corporation (NYSE:NSC) for 20,949 shares. Carnegie Asset Management Ltd Liability reported 0.11% of its portfolio in Norfolk Southern Corporation (NYSE:NSC). East Coast Asset Mgmt Llc has invested 0.07% of its portfolio in Norfolk Southern Corporation (NYSE:NSC). Redmond Asset Mngmt Ltd Limited Liability Company accumulated 1,386 shares or 0.11% of the stock. Howe Rusling reported 0.01% stake. Nuveen Asset Management Llc holds 33,867 shares or 0.03% of its portfolio. Weatherly Asset Mgmt L P holds 0.41% or 10,817 shares in its portfolio. M Hldgs accumulated 1,398 shares. Wms Prtn Lc has invested 0.06% in Norfolk Southern Corporation (NYSE:NSC). Cape Cod Five Cents Savings Bank stated it has 0.76% of its portfolio in Norfolk Southern Corporation (NYSE:NSC). West Oak Cap Lc has 10,305 shares for 1.2% of their portfolio. Boys Arnold And Incorporated holds 0.17% or 5,976 shares in its portfolio. Whitnell owns 4,132 shares. Van Hulzen Asset Mgmt Limited Liability owns 0.25% invested in Norfolk Southern Corporation (NYSE:NSC) for 4,984 shares. Federated Invsts Pa has 15,163 shares.

Since July 29, 2019, it had 1 buy, and 0 insider sales for $100,546 activity.

The stock of Norfolk Southern Corporation (NSC) shows a multiple tops pattern with $185.14 target or 9.00 % above today’s $169.85 share price. The 7 months chart pattern indicates low risk for the $44.74 billion company. It was reported on Aug, 16 by Finviz.com. If the $185.14 price target is reached, the company will be worth $4.03 billion more.
Multiple tops are chart patterns with decent performance in a bull market. The failure rate is higher but the average decline is reasonable. Back-tests of such patterns show that the break even failure rate is 10%, the average rise: 19%, the throwback rate: 61% and the percentage of stocks meeting their price targets: 40%.

The stock decreased 0.72% or $1.24 during the last trading session, reaching $169.85. About 2.00 million shares traded or 11.84% up from the average. Norfolk Southern Corporation (NYSE:NSC) has risen 13.44% since August 16, 2018 and is uptrending. It has outperformed by 13.44% the S&P500.

Analysts await Norfolk Southern Corporation (NYSE:NSC) to report earnings on October, 23. They expect $2.76 earnings per share, up 9.52 % or $0.24 from last year’s $2.52 per share. NSC’s profit will be $727.01M for 15.38 P/E if the $2.76 EPS becomes a reality. After $2.70 actual earnings per share reported by Norfolk Southern Corporation for the previous quarter, Wall Street now forecasts 2.22 % EPS growth.

Norfolk Southern Corporation (NYSE:NSC) Ratings Coverage

Among 6 analysts covering Norfolk Southern (NYSE:NSC), 2 have Buy rating, 1 Sell and 3 Hold. Therefore 33% are positive. Norfolk Southern has $23700 highest and $13800 lowest target. $202.67’s average target is 19.32% above currents $169.85 stock price. Norfolk Southern had 13 analyst reports since February 19, 2019 according to SRatingsIntel. On Wednesday, March 13 the stock rating was maintained by Barclays Capital with “Hold”. The firm earned “Equal-Weight” rating on Thursday, April 25 by Barclays Capital. Morgan Stanley maintained Norfolk Southern Corporation (NYSE:NSC) on Monday, April 29 with “Underweight” rating. The stock of Norfolk Southern Corporation (NYSE:NSC) earned “Hold” rating by Deutsche Bank on Wednesday, June 12. Citigroup maintained Norfolk Southern Corporation (NYSE:NSC) rating on Thursday, April 4. Citigroup has “Buy” rating and $225 target. As per Thursday, April 25, the company rating was maintained by BMO Capital Markets.

More notable recent Norfolk Southern Corporation (NYSE:NSC) news were published by: Benzinga.com which released: “U.S. Rail Volumes Continue Dip – Benzinga” on July 25, 2019, also Seekingalpha.com with their article: “Norfolk Southern Is A Buy – Seeking Alpha” published on August 12, 2019, Benzinga.com published: “North American Rail Volumes Continue Downward Trend – Benzinga” on August 15, 2019. More interesting news about Norfolk Southern Corporation (NYSE:NSC) were released by: Finance.Yahoo.com and their article: “Can Norfolk Southern Corporation (NYSE:NSC) Maintain Its Strong Returns? – Yahoo Finance” published on May 07, 2019 as well as Benzinga.com‘s news article titled: “Shippers Want More Changes To Demurrage And Accessorial Charges – Benzinga” with publication date: July 17, 2019.

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods in the United States. The company has market cap of $44.74 billion. It also transports overseas freight through various Atlantic and Gulf Coast ports. It has a 16.48 P/E ratio. In addition, the firm is involved in the operation of scheduled passenger trains; leasing or sale of rail property and equipment; development of commercial real estate; telecommunications; and the acquisition, leasing, and management of coal, oil, gas, and minerals, as well as the transport of automotive and industrial products.

Norfolk Southern Corporation (NYSE:NSC) Institutional Positions Chart

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