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Norfolk Southern Corporation (NSC) - $25 value - yours FREE >>
Knight-Swift Transportation Holdings Inc. (KNX) - $25 value - yours FREE >>
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Norfolk Southern (NSC) to Resume Its Pennsylvania Terminal
In line with its efforts to meet strong market demand, Norfolk Southern Corporation (NSC - Free Report) announced plans to reopen its intermodal facility in Greencastle, Pennsylvania.
The railroad operator will conduct a phased reopening of the Franklin County Regional Intermodal Facility in Greencastle, beginning Sep 10, 2021. Norfolk Southern will commence with a lane of domestic intermodal traffic moving between facilities in Memphis and Rutherford. The additional terminal capacity at Greencastle is expected to improve rail service, meet increased demand driven by e-commerce growth, alleviate supply-chain congestion and improve network fluidity across Pennsylvania.
Per Norfolk Southern’s chief marketing officer, Alan Shaw “With strong growth in volume driven by e-commerce and a recovering economy, we believe the timing is right to bring our Greencastle facility back online”. The Greencastle facility opened in January 2013 and was part of the company’s Crescent Corridor initiative, a public-private partnership aimed at highway to railroad conversion.
Notably, the Greencastle terminal has the capacity for an estimated 100,000 shipping container lifts on an annual basis. The first phase of traffic is expected to generate about half that number.
Zacks Rank & Stocks to Consider
Norfolk Southern currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader Zacks Transportation sector are Knight-Swift Transportation Holdings Inc. (KNX - Free Report) , Landstar System, Inc. (LSTR - Free Report) and Herc Holdings Inc. (HRI - Free Report) . Knight-Swift and Landstar carry a Zacks Rank #2 (Buy), while Herc Holdings sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term expected earnings per share (three to five years) growth rate for Knight-Swift, Landstar and Herc Holdings is pegged at 15%, 12% and 49.2%, respectively.