Norfolk Southern (NYSE:NSC) Price Target Increased to $220.00 by Analysts at Argus

Norfolk Southern (NYSE:NSC) had its target price hoisted by equities researchers at Argus from $210.00 to $220.00 in a research report issued to clients and investors on Tuesday, May 7th. The brokerage currently has a “buy” rating on the railroad operator’s stock. Argus’ target price would indicate a potential upside of 12.74% from the company’s current price.

Several other equities research analysts have also commented on NSC. Zacks Investment Research lowered shares of Norfolk Southern from a “buy” rating to a “hold” rating in a report on Tuesday, April 16th. ValuEngine raised shares of Norfolk Southern from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Loop Capital increased their target price on shares of Norfolk Southern to $210.00 and gave the stock a “buy” rating in a research note on Monday, February 11th. Barclays increased their target price on shares of Norfolk Southern from $200.00 to $210.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 25th. Finally, Credit Suisse Group increased their target price on shares of Norfolk Southern from $181.00 to $195.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 12th. Two analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $202.06.

NYSE:NSC traded down $2.99 during mid-day trading on Tuesday, hitting $195.14. The company’s stock had a trading volume of 1,297,201 shares, compared to its average volume of 1,568,494. Norfolk Southern has a 1 year low of $138.65 and a 1 year high of $211.46. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.59 and a current ratio of 0.67. The firm has a market cap of $51.91 billion, a price-to-earnings ratio of 20.52, a PEG ratio of 1.49 and a beta of 1.44.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Wednesday, April 24th. The railroad operator reported $2.51 EPS for the quarter, beating the consensus estimate of $2.17 by $0.34. Norfolk Southern had a net margin of 24.10% and a return on equity of 17.80%. The company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.82 billion. During the same period in the prior year, the company earned $1.93 earnings per share. The firm’s revenue was up 4.5% on a year-over-year basis. As a group, equities research analysts predict that Norfolk Southern will post 10.89 earnings per share for the current fiscal year.

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

Hedge funds have recently added to or reduced their stakes in the business. Oregon Public Employees Retirement Fund increased its holdings in shares of Norfolk Southern by 14,153.5% during the 4th 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 holdings in shares of Norfolk Southern by 1.6% during the 3rd 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 holdings in shares of Norfolk Southern by 0.9% during the 4th 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 holdings in shares of Norfolk Southern by 3.5% during the 1st 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 holdings in shares of Norfolk Southern by 27.4% during the 1st 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 72.86% of the company’s stock.

Norfolk Southern Company Profile

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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