Norfolk Southern (NYSE:NSC) Price Target Raised to $355.00

Norfolk Southern (NYSE:NSC) had its price objective upped by equities researchers at Wolfe Research from $350.00 to $355.00 in a research note issued to investors on Tuesday,MarketScreener reports. The brokerage currently has an “outperform” rating on the railroad operator’s stock. Wolfe Research’s target price would indicate a potential upside of 23.74% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. Royal Bank Of Canada reduced their price target on shares of Norfolk Southern from $320.00 to $310.00 and set a “sector perform” rating on the stock in a research report on Thursday, March 26th. Rothschild & Co Redburn lowered their price objective on shares of Norfolk Southern from $317.00 to $308.00 and set a “neutral” rating for the company in a research report on Wednesday, April 1st. Argus upgraded shares of Norfolk Southern to a “hold” rating in a report on Wednesday, February 25th. Citigroup lifted their target price on Norfolk Southern from $300.00 to $313.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, Wall Street Zen raised Norfolk Southern to a “sell” rating in a report on Saturday. Seven equities research analysts have rated the stock with a Buy rating and seventeen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Norfolk Southern currently has an average rating of “Hold” and an average price target of $305.53.

Norfolk Southern Stock Performance

Shares of NYSE NSC opened at $286.90 on Tuesday. Norfolk Southern has a 12 month low of $201.63 and a 12 month high of $319.94. The company has a 50-day simple moving average of $299.90 and a 200-day simple moving average of $293.15. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.85 and a quick ratio of 0.78. The company has a market cap 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) last released its earnings results on Thursday, January 29th. The railroad operator reported $3.22 EPS for the quarter, beating the consensus estimate of $2.76 by $0.46. The firm had revenue of $3 billion during the quarter, compared to analyst estimates of $3.03 billion. Norfolk Southern had a return on equity of 18.78% and a net margin of 23.59%.The business’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.04 earnings per share. On average, equities analysts anticipate that Norfolk Southern will post 13 earnings per share for the current year.

Institutional Investors Weigh In On Norfolk Southern

Several institutional investors and hedge funds have recently modified their holdings of NSC. Tritonpoint Wealth LLC raised its holdings in Norfolk Southern by 3.5% in the 3rd quarter. Tritonpoint Wealth LLC now owns 1,041 shares of the railroad operator’s stock worth $313,000 after acquiring an additional 35 shares during the period. Massachusetts Wealth Management boosted its stake in Norfolk Southern by 0.6% in the third quarter. Massachusetts Wealth Management now owns 5,986 shares of the railroad operator’s stock worth $1,798,000 after purchasing an additional 35 shares in the last quarter. Gilbert & Cook Inc. grew its stake in shares of Norfolk Southern by 1.4% during the fourth quarter. Gilbert & Cook Inc. now owns 2,515 shares of the railroad operator’s stock valued at $726,000 after purchasing an additional 35 shares during the last quarter. Moss Adams Wealth Advisors LLC raised its holdings in Norfolk Southern by 4.6% during the 4th quarter. Moss Adams Wealth Advisors LLC now owns 791 shares of the railroad operator’s stock worth $228,000 after purchasing an additional 35 shares during the last quarter. Finally, Confluence Wealth Services Inc. raised its position in shares of Norfolk Southern by 1.1% in the 4th quarter. Confluence Wealth Services Inc. now owns 3,090 shares of the railroad operator’s stock valued at $892,000 after acquiring an additional 35 shares during the period. 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.