Norfolk Southern (NYSE:NSC) Given New $310.00 Price Target at Jefferies Financial Group
by Renee Jackson · The Cerbat GemNorfolk Southern (NYSE:NSC – Get Free Report) had its price objective lowered by research analysts at Jefferies Financial Group from $350.00 to $310.00 in a research note issued to investors on Monday,MarketScreener reports. The brokerage currently has a “hold” rating on the railroad operator’s stock. Jefferies Financial Group’s price target suggests a potential upside of 8.05% from the company’s current price.
A number of other research firms have also commented on NSC. Wolfe Research raised their price objective on Norfolk Southern from $350.00 to $355.00 and gave the stock an “outperform” rating in a research note on Tuesday. Argus upgraded shares of Norfolk Southern to a “hold” rating in a research note on Wednesday, February 25th. Susquehanna boosted their target price on shares of Norfolk Southern from $304.00 to $305.00 and gave the company a “neutral” rating in a research report on Friday, January 30th. Morgan Stanley raised shares of Norfolk Southern from an “equal weight” rating to a “buy” rating in a report on Thursday, December 18th. Finally, UBS Group lowered shares of Norfolk Southern from a “buy” rating to a “neutral” rating and set a $342.00 price target on the stock. in a research report on Friday, February 6th. Seven research analysts have rated the stock with a Buy rating and seventeen have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $305.53.
Get Our Latest Stock Report on Norfolk Southern
Norfolk Southern Trading Down 0.4%
NSC stock opened at $286.90 on Monday. Norfolk Southern has a 52 week low of $201.63 and a 52 week high of $319.94. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.78 and a current ratio of 0.85. The company’s 50-day simple moving average is $299.90 and its 200 day simple moving average is $293.15. The company has a market capitalization of $70.24 billion, a PE ratio of 22.64, a price-to-earnings-growth ratio of 5.25 and a beta of 1.31.
Norfolk Southern (NYSE:NSC – Get Free Report) last posted its quarterly earnings data on Thursday, January 29th. The railroad operator reported $3.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.76 by $0.46. Norfolk Southern had a net margin of 23.59% and a return on equity of 18.78%. The firm had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.03 billion. During the same quarter in the previous year, the firm posted $3.04 EPS. The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Norfolk Southern will post 13 earnings per share for the current year.
Institutional Trading of Norfolk Southern
A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of Norfolk Southern by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 20,825,837 shares of the railroad operator’s stock valued at $6,012,836,000 after acquiring an additional 272,651 shares during the last quarter. State Street Corp increased its holdings in Norfolk Southern by 4.1% in the 4th quarter. State Street Corp now owns 9,710,549 shares of the railroad operator’s stock worth $2,803,630,000 after purchasing an additional 379,819 shares in the last quarter. Geode Capital Management LLC raised its position in Norfolk Southern by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 4,878,029 shares of the railroad operator’s stock valued at $1,401,797,000 after purchasing an additional 36,205 shares during the last quarter. EdgePoint Investment Group Inc. boosted its stake in shares of Norfolk Southern by 4.6% during the second quarter. EdgePoint Investment Group Inc. now owns 4,182,921 shares of the railroad operator’s stock valued at $1,070,702,000 after purchasing an additional 184,586 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Norfolk Southern during the fourth quarter valued at about $1,084,701,000. Institutional investors and hedge funds own 75.10% of the company’s stock.
Norfolk Southern Company Profile
Norfolk Southern Corporation is a major U.S. freight railroad company that provides rail transportation and related logistics services. As a Class I carrier, the company operates an extensive network across the eastern United States and offers scheduled freight service for a broad range of industries. Its core operations include long-haul and regional rail freight transportation, intermodal services that move containers and trailers between rail and other modes, and terminal and switching services that support efficient rail shipments for industrial and port customers.
The company transports a variety of commodities, serving sectors such as coal and energy, automotive and automotive parts, chemicals, agriculture, metals and construction materials, and consumer goods.