Susquehanna Has Lowered Expectations for Norfolk Southern (NYSE:NSC) Stock Price

Norfolk Southern (NYSE:NSC) had its target price decreased by Susquehanna from $386.00 to $350.00 in a report released on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the railroad operator’s stock. Susquehanna’s price objective indicates a potential upside of 12.76% from the stock’s previous close.

A number of other research analysts have also recently issued reports on the stock. BMO Capital Markets lifted their price objective on shares of Norfolk Southern from $310.00 to $355.00 and gave the company a “market perform” rating in a research note on Monday, July 27th. Citigroup upped their target price on Norfolk Southern from $351.00 to $376.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. JPMorgan Chase & Co. raised their target price on Norfolk Southern from $316.00 to $338.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Barclays lifted their price target on Norfolk Southern from $360.00 to $400.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. Finally, UBS Group reissued a “neutral” rating and set a $363.00 price target on shares of Norfolk Southern in a report on Friday, July 24th. Seven investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. According to data from MarketBeat.com, Norfolk Southern presently has an average rating of “Hold” and an average price target of $350.00.

Norfolk Southern Trading Up 0.5%

NSC opened at $310.41 on Friday. The stock has a market capitalization of $69.72 billion, a price-to-earnings ratio of 26.49, a P/E/G ratio of 4.59 and a beta of 1.29. The company has a quick ratio of 0.73, a current ratio of 0.83 and a debt-to-equity ratio of 0.98. Norfolk Southern has a twelve month low of $277.80 and a twelve month high of $358.60. The company has a 50-day simple moving average of $331.62 and a 200 day simple moving average of $316.72.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Thursday, July 23rd. The railroad operator reported $3.52 EPS for the quarter, beating the consensus estimate of $3.32 by $0.20. Norfolk Southern had a net margin of 21.02% and a return on equity of 18.21%. The company had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.38 billion. During the same period in the previous year, the company earned $3.29 EPS. The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. Analysts predict that Norfolk Southern will post 12.87 EPS for the current fiscal year.

Institutional Investors Weigh In On Norfolk Southern

Several hedge funds have recently modified their holdings of NSC. BlackRock Inc. bought a new stake in Norfolk Southern during the 2nd quarter worth $5,033,549,000. Bank of America Corp DE bought a new position in Norfolk Southern in the second quarter valued at about $978,977,000. Dimensional Fund Advisors LP raised its position in Norfolk Southern by 2.1% in the first quarter. Dimensional Fund Advisors LP now owns 2,259,558 shares of the railroad operator’s stock valued at $648,429,000 after purchasing an additional 46,127 shares during the last quarter. Amundi boosted its stake in shares of Norfolk Southern by 24.2% during the first quarter. Amundi now owns 2,226,885 shares of the railroad operator’s stock valued at $639,116,000 after purchasing an additional 434,074 shares in the last quarter. Finally, HBK Investments L P boosted its stake in shares of Norfolk Southern by 0.8% during the second quarter. HBK Investments L P now owns 1,750,000 shares of the railroad operator’s stock valued at $550,532,000 after purchasing an additional 13,644 shares in the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Company Profile

Norfolk Southern Corporation (NYSE: NSC) is a transportation company that operates one of the largest rail networks in the eastern United States. Through its principal subsidiary, Norfolk Southern Railway, the company provides freight rail transportation and related services for industrial, agricultural and consumer markets.

Norfolk Southern’s network serves 22 states and the District of Columbia, connecting major ports, manufacturing centers and distribution hubs across the East Coast and the Midwest.