JPMorgan Chase & Co. Has Lowered Expectations for Norfolk Southern (NYSE:NSC) Stock Price

Norfolk Southern (NYSE:NSC) had its price objective reduced by equities research analysts at JPMorgan Chase & Co. from $331.00 to $316.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the railroad operator’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential downside of 3.39% from the stock’s current price.

A number of other equities research analysts have also recently commented on NSC. Royal Bank Of Canada lowered their price target on shares of Norfolk Southern from $360.00 to $320.00 and set a “sector perform” rating on the stock in a report on Wednesday, June 24th. Weiss Ratings lowered shares of Norfolk Southern from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, April 27th. Robert W. Baird lifted their price objective on Norfolk Southern from $330.00 to $360.00 and gave the company a “neutral” rating in a research note on Friday. Wolfe Research boosted their price target on shares of Norfolk Southern from $350.00 to $355.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 7th. Finally, Wells Fargo & Company increased their price objective on Norfolk Southern from $350.00 to $365.00 and gave the company an “overweight” rating in a research report on Wednesday. Seven investment analysts have rated the stock with a Buy rating and seventeen have given a Hold rating to the stock. Based on data from MarketBeat, Norfolk Southern presently has an average rating of “Hold” and an average price target of $326.72.

Norfolk Southern Stock Up 1.0%

NSC traded up $3.32 during mid-day trading on Friday, reaching $327.09. 107,589 shares of the stock were exchanged, compared to its average volume of 1,229,068. Norfolk Southern has a 1 year low of $257.49 and a 1 year high of $327.38. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.91. The company has a 50 day moving average price of $312.72 and a two-hundred day moving average price of $302.83. The stock has a market capitalization of $73.46 billion, a PE ratio of 27.54, a price-to-earnings-growth ratio of 5.87 and a beta of 1.27.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Friday, April 24th. The railroad operator reported $2.65 EPS for the quarter, topping the consensus estimate of $2.49 by $0.16. The firm had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.13 billion. Norfolk Southern had a net margin of 21.91% and a return on equity of 18.30%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.69 EPS. As a group, research analysts anticipate that Norfolk Southern will post 12.16 EPS for the current year.

Institutional Trading of Norfolk Southern

Institutional investors have recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Norfolk Southern during the fourth quarter valued at approximately $1,084,701,000. Pentwater Capital Management LP bought a new stake in Norfolk Southern during the third quarter valued at approximately $826,128,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Norfolk Southern by 545.2% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,306,203 shares of the railroad operator’s stock worth $392,396,000 after purchasing an additional 1,103,748 shares in the last quarter. Balyasny Asset Management L.P. purchased a new stake in Norfolk Southern in the third quarter worth about $329,629,000. Finally, HBK Investments L P increased its holdings in Norfolk Southern by 67.7% in the 4th quarter. HBK Investments L P now owns 2,130,000 shares of the railroad operator’s stock worth $614,974,000 after acquiring an additional 860,000 shares in the last quarter. 75.10% of the stock is owned by hedge funds and other institutional investors.

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.