Citigroup Forecasts Strong Price Appreciation for Norfolk Southern (NYSE:NSC) Stock
by Kim Johansen · The Markets DailyNorfolk Southern (NYSE:NSC – Get Free Report) had its price target upped by analysts at Citigroup from $300.00 to $313.00 in a research report issued to clients and investors on Tuesday,MarketScreener reports. The brokerage currently has a “neutral” rating on the railroad operator’s stock. Citigroup’s target price points to a potential upside of 9.10% from the company’s previous close.
Several other research analysts also recently commented on NSC. JPMorgan Chase & Co. decreased their price objective on Norfolk Southern from $301.00 to $296.00 and set a “neutral” rating on the stock in a research note on Friday, January 30th. Sanford C. Bernstein reduced their price target on shares of Norfolk Southern from $322.00 to $313.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 31st. Wolfe Research lifted their price target on shares of Norfolk Southern from $361.00 to $368.00 and gave the stock an “outperform” rating in a research note on Thursday, January 8th. Benchmark restated a “hold” rating on shares of Norfolk Southern in a research report on Friday, January 30th. Finally, Royal Bank Of Canada decreased their price target on shares of Norfolk Southern from $320.00 to $310.00 and set a “sector perform” rating for the company in a research note on Thursday, March 26th. Seven equities research analysts have rated the stock with a Buy rating and seventeen have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $305.53.
Norfolk Southern Trading Down 0.4%
Shares of NYSE NSC opened at $286.90 on Tuesday. The firm’s 50 day moving average price is $299.90 and its 200-day moving average price is $293.15. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.78 and a current ratio of 0.85. Norfolk Southern has a 52-week low of $201.63 and a 52-week high of $319.94. The company has a market cap of $70.24 billion, a PE ratio of 22.64, a P/E/G ratio of 5.25 and a beta of 1.31.
Norfolk Southern (NYSE:NSC – Get Free Report) last posted its earnings results on Thursday, January 29th. The railroad operator reported $3.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.76 by $0.46. The business had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.03 billion. Norfolk Southern had a net margin of 23.59% and a return on equity of 18.78%. The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.04 EPS. On average, equities research analysts expect that Norfolk Southern will post 13 EPS for the current fiscal year.
Institutional Investors Weigh In On Norfolk Southern
Institutional investors and hedge funds have recently modified their holdings of the company. ORG Partners LLC lifted its holdings in Norfolk Southern by 75.0% during the 3rd quarter. ORG Partners LLC now owns 84 shares of the railroad operator’s stock worth $25,000 after buying an additional 36 shares in the last quarter. JPL Wealth Management LLC acquired a new position in Norfolk Southern in the 3rd quarter valued at $25,000. Westside Investment Management Inc. lifted its position in Norfolk Southern by 207.1% in the third quarter. Westside Investment Management Inc. now owns 86 shares of the railroad operator’s stock valued at $26,000 after purchasing an additional 58 shares during the period. BNP Paribas purchased a new stake in shares of Norfolk Southern in the second quarter valued at approximately $26,000. Finally, GoalVest Advisory LLC lifted its stake in shares of Norfolk Southern by 933.3% in the fourth quarter. GoalVest Advisory LLC now owns 93 shares of the railroad operator’s stock valued at $27,000 after purchasing an additional 84 shares during the period. Hedge funds and other institutional investors own 75.10% of the company’s stock.
About Norfolk Southern
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.