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Norfolk Southern (NSC) Soars 7.6%: Is Further Upside Left in the Stock?
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Norfolk Southern (NSC - Free Report) shares soared 7.6% in the last trading session to close at $222.02. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 11.4% loss over the past four weeks.
The stock gained following President Donald Trump's announcement that he would pause the "reciprocal" import taxes for 90 days. The President said he felt the pause was needed because "more than 75 countries" had contacted his administration to make trade deals.
This railroad is expected to post quarterly earnings of $2.83 per share in its upcoming report, which represents a year-over-year change of +13.7%. Revenues are expected to be $3.02 billion, up 0.7% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Norfolk Southern, the consensus EPS estimate for the quarter has been revised 1.2% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on NSC going forward to see if this recent jump can turn into more strength down the road.
Norfolk Southern is part of the Zacks Transportation - Rail industry. Canadian Pacific Kansas City (CP - Free Report) , another stock in the same industry, closed the last trading session 9% higher at $73.18. CP has returned -8.1% in the past month.
Canadian Pacific Kansas City's consensus EPS estimate for the upcoming report has changed -0.3% over the past month to $0.75. Compared to the company's year-ago EPS, this represents a change of +8.7%. Canadian Pacific Kansas City currently boasts a Zacks Rank of #3 (Hold).
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Norfolk Southern (NSC) Soars 7.6%: Is Further Upside Left in the Stock?
Norfolk Southern (NSC - Free Report) shares soared 7.6% in the last trading session to close at $222.02. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 11.4% loss over the past four weeks.
The stock gained following President Donald Trump's announcement that he would pause the "reciprocal" import taxes for 90 days. The President said he felt the pause was needed because "more than 75 countries" had contacted his administration to make trade deals.
This railroad is expected to post quarterly earnings of $2.83 per share in its upcoming report, which represents a year-over-year change of +13.7%. Revenues are expected to be $3.02 billion, up 0.7% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Norfolk Southern, the consensus EPS estimate for the quarter has been revised 1.2% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on NSC going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Norfolk Southern is part of the Zacks Transportation - Rail industry. Canadian Pacific Kansas City (CP - Free Report) , another stock in the same industry, closed the last trading session 9% higher at $73.18. CP has returned -8.1% in the past month.
Canadian Pacific Kansas City's consensus EPS estimate for the upcoming report has changed -0.3% over the past month to $0.75. Compared to the company's year-ago EPS, this represents a change of +8.7%. Canadian Pacific Kansas City currently boasts a Zacks Rank of #3 (Hold).