Norfolk Southern (NYSE:NSC) Stock Gets Price Target Boost from Evercore

Norfolk Southern (NYSE:NSC) had its target price boosted by equities research analysts at Evercore from $358.00 to $360.00 in a note issued to investors on Wednesday. Evercore’s target price would suggest a potential upside of 15.04% from the stock’s previous close.

A number of other brokerages have also recently issued reports on NSC. Wells Fargo & Company increased their price objective on Norfolk Southern from $365.00 to $385.00 and gave the stock an “overweight” rating in a report on Friday, July 24th. Benchmark reaffirmed a “hold” rating on shares of Norfolk Southern in a research note on Friday, July 24th. Citigroup upped their target price on shares of Norfolk Southern from $351.00 to $376.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. BMO Capital Markets raised their price target on shares of Norfolk Southern from $310.00 to $355.00 and gave the company a “market perform” rating in a report on Monday, July 27th. Finally, Barclays upped their price target on shares of Norfolk Southern from $360.00 to $400.00 and gave the stock an “overweight” rating in a report on Friday, July 24th. Seven research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $350.62.

Norfolk Southern Stock Performance

Shares of NSC stock opened at $312.92 on Wednesday. The firm’s 50 day moving average is $332.80 and its 200 day moving average is $316.43. The stock has a market capitalization of $70.29 billion, a P/E ratio of 26.70, a PEG ratio of 4.65 and a beta of 1.27. Norfolk Southern has a 12 month low of $277.80 and a 12 month high of $358.60. The company has a current ratio of 0.83, a quick ratio of 0.73 and a debt-to-equity ratio of 0.98.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.32 by $0.20. The business had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.38 billion. Norfolk Southern had a net margin of 21.02% and a return on equity of 18.21%. The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.29 EPS. On average, sell-side analysts anticipate that Norfolk Southern will post 12.87 earnings per share for the current year.

Hedge Funds Weigh In On Norfolk Southern

Institutional investors have recently modified their holdings of the company. Edmond DE Rothschild Holding S.A. bought a new stake in Norfolk Southern in the 2nd quarter worth approximately $26,000. Meeder Asset Management Inc. purchased a new position in shares of Norfolk Southern during the second quarter worth approximately $27,000. Comprehensive Financial Planning Inc. PA bought a new stake in shares of Norfolk Southern in the 2nd quarter worth approximately $31,000. Kimelman & Baird LLC purchased a new stake in shares of Norfolk Southern in the 2nd quarter valued at $31,000. Finally, Financial Life Planners bought a new position in shares of Norfolk Southern during the 1st quarter valued at $33,000. 75.10% of the stock is currently owned by institutional investors.

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.