Norfolk Southern (NYSE:NSC) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Norfolk Southern (NYSE:NSC) had its target price raised by stock analysts at Wells Fargo & Company from $350.00 to $365.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the railroad operator’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 13.82% from the company’s current price.

Several other research analysts have also issued reports on NSC. Robert W. Baird raised their price target on Norfolk Southern from $315.00 to $330.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 28th. Susquehanna boosted their target price on Norfolk Southern from $330.00 to $337.00 and gave the stock a “neutral” rating in a research report on Friday, June 5th. Evercore set a $325.00 price objective on shares of Norfolk Southern in a report on Friday, April 24th. Jefferies Financial Group lowered their target price on shares of Norfolk Southern from $350.00 to $310.00 and set a “hold” rating for the company in a research note on Monday, April 6th. Finally, Royal Bank Of Canada reduced their price target on shares of Norfolk Southern from $360.00 to $320.00 and set a “sector perform” rating on the stock in a research report on Wednesday, June 24th. Seven research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company. According to data from MarketBeat.com, Norfolk Southern has a consensus rating of “Hold” and an average price target of $322.83.

Norfolk Southern Trading Down 0.6%

Shares of NSC stock opened at $320.69 on Wednesday. The company has a market capitalization of $72.02 billion, a P/E ratio of 27.11, a P/E/G ratio of 5.94 and a beta of 1.27. Norfolk Southern has a 12-month low of $257.49 and a 12-month high of $326.00. The company has a quick ratio of 0.81, a current ratio of 0.91 and a debt-to-equity ratio of 1.04. The firm has a 50-day moving average price of $312.57 and a 200 day moving average price of $302.41.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Friday, April 24th. The railroad operator reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.49 by $0.16. The firm had revenue of $3 billion for the quarter, compared to analyst estimates of $3.13 billion. Norfolk Southern had a net margin of 21.91% and a return on equity of 18.30%. The company’s revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.69 EPS. Research analysts forecast that Norfolk Southern will post 12.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Norfolk Southern

Several large investors have recently modified their holdings of the business. Louisiana State Employees Retirement System bought a new position in Norfolk Southern during the first quarter valued at about $3,272,000. O Shaughnessy Asset Management LLC grew its position in shares of Norfolk Southern by 9.8% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 43,408 shares of the railroad operator’s stock valued at $12,533,000 after acquiring an additional 3,887 shares during the period. Farallon Capital Management LLC purchased a new stake in shares of Norfolk Southern during the 3rd quarter worth approximately $184,752,000. Angelo Gordon & CO. L.P. purchased a new stake in shares of Norfolk Southern during the 3rd quarter worth approximately $1,464,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. raised its holdings in shares of Norfolk Southern by 49.3% in the 4th quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 50,620 shares of the railroad operator’s stock worth $14,615,000 after purchasing an additional 16,720 shares during the period. Institutional investors 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.