Norfolk Southern (NYSE:NSC) Price Target Cut to $196.00

Norfolk Southern (NYSE:NSC) had its price objective dropped by investment analysts at Deutsche Bank from $198.00 to $196.00 in a research report issued on Wednesday, BenzingaRatingsTable reports. The firm presently has a “hold” rating on the railroad operator’s stock. Deutsche Bank’s price target would suggest a potential downside of 1.68% from the company’s current price.

A number of other brokerages also recently issued reports on NSC. TD Securities increased their price target on shares of Norfolk Southern from $185.00 to $195.00 and gave the company a “buy” rating in a report on Tuesday, February 12th. Citigroup increased their price target on shares of Norfolk Southern from $200.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Credit Suisse Group increased their price target on shares of Norfolk Southern from $181.00 to $195.00 and gave the company an “outperform” rating in a report on Tuesday, February 12th. Morgan Stanley increased their price target on shares of Norfolk Southern from $133.00 to $138.00 and gave the company an “underweight” rating in a report on Monday, April 29th. Finally, Cowen restated an “outperform” rating and set a $230.00 target price (up from $200.00) on shares of Norfolk Southern in a report on Wednesday, April 24th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $203.11.

Shares of NSC opened at $199.35 on Wednesday. The company has a quick ratio of 0.59, a current ratio of 0.67 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $54.00 billion, a PE ratio of 20.96, a P/E/G ratio of 1.55 and a beta of 1.38. Norfolk Southern has a 52-week low of $138.65 and a 52-week high of $211.46.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Wednesday, April 24th. The railroad operator reported $2.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.17 by $0.34. The business had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.82 billion. Norfolk Southern had a net margin of 24.10% and a return on equity of 17.80%. The business’s revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.93 EPS. On average, equities research analysts forecast that Norfolk Southern will post 10.89 EPS for the current fiscal year.

In other Norfolk Southern news, COO Michael Joseph Wheeler sold 2,500 shares of Norfolk Southern stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $204.57, for a total transaction of $511,425.00. Following the transaction, the chief operating officer now directly owns 12,919 shares of the company’s stock, valued at $2,642,839.83. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Chairman James A. Squires sold 3,024 shares of Norfolk Southern stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $204.71, for a total transaction of $619,043.04. The disclosure for this sale can be found here. 0.19% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Oregon Public Employees Retirement Fund increased its stake in shares of Norfolk Southern by 14,153.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 22,774,792 shares of the railroad operator’s stock worth $152,000 after buying an additional 22,615,008 shares during the last quarter. Vanguard Group Inc increased its stake in shares of Norfolk Southern by 1.6% in the third quarter. Vanguard Group Inc now owns 21,159,132 shares of the railroad operator’s stock worth $3,819,223,000 after buying an additional 336,725 shares during the last quarter. BlackRock Inc. increased its stake in shares of Norfolk Southern by 0.9% in the fourth quarter. BlackRock Inc. now owns 20,052,895 shares of the railroad operator’s stock worth $2,998,712,000 after buying an additional 169,821 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Norfolk Southern by 3.5% in the first quarter. JPMorgan Chase & Co. now owns 12,864,410 shares of the railroad operator’s stock worth $2,404,230,000 after buying an additional 430,110 shares during the last quarter. Finally, FMR LLC increased its stake in shares of Norfolk Southern by 27.4% in the first quarter. FMR LLC now owns 9,875,360 shares of the railroad operator’s stock worth $1,845,606,000 after buying an additional 2,123,713 shares during the last quarter. Institutional investors own 72.84% of the company’s stock.

About Norfolk Southern

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. The company transports industrial products, including chemicals, agriculture, and metals and construction materials; and coal, automobiles, and automotive parts.

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Analyst Recommendations for Norfolk Southern (NYSE:NSC)

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