Smith Barney Citigroup Boosts Norfolk Southern (NYSE:NSC) Price Target to $290.00


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Norfolk Southern (NYSE:NSC) had its target price upped by Smith Barney Citigroup from $250.00 to $290.00 in a report released on Monday morning, The Fly reports.

Other equities research analysts also recently issued reports about the stock. UBS Group lowered their target price on shares of Norfolk Southern from $250.00 to $245.00 and set a buy rating for the company in a research note on Thursday, October 29th. CSFB raised their target price on shares of Norfolk Southern from $241.00 to $246.00 and gave the company an outperform rating in a research note on Thursday, October 8th. BMO Capital Markets raised their target price on shares of Norfolk Southern from $220.00 to $230.00 and gave the company a market perform rating in a research note on Thursday, October 29th. Argus raised their target price on shares of Norfolk Southern from $210.00 to $225.00 in a research note on Thursday, October 29th. Finally, Morgan Stanley raised their price target on shares of Norfolk Southern from $134.00 to $135.00 and gave the stock an underweight rating in a report on Wednesday, January 6th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $222.92.

NYSE NSC opened at $254.48 on Monday. The company has a market cap of $69.81 billion, a PE ratio of 32.75, a P/E/G ratio of 3.42 and a beta of 1.41. Norfolk Southern has a 52-week low of $112.62 and a 52-week high of $258.17. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.16 and a current ratio of 1.29. The firm’s 50 day moving average price is $238.78 and its 200-day moving average price is $215.68.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Wednesday, October 28th. The railroad operator reported $2.51 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.36 by $0.15. The company had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.53 billion. Norfolk Southern had a net margin of 20.27% and a return on equity of 15.83%. On average, analysts forecast that Norfolk Southern will post 9.12 earnings per share for the current fiscal year.

In other Norfolk Southern news, EVP Ann A. Adams sold 1,370 shares of Norfolk Southern stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $213.86, for a total value of $292,988.20. Following the completion of the transaction, the executive vice president now owns 8,011 shares of the company’s stock, valued at $1,713,232.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.32% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NSC. Great West Life Assurance Co. Can increased its holdings in Norfolk Southern by 841.7% in the third quarter. Great West Life Assurance Co. Can now owns 1,967,153 shares of the railroad operator’s stock valued at $47,623,000 after buying an additional 1,758,263 shares in the last quarter. Morgan Stanley increased its holdings in Norfolk Southern by 98.1% in the third quarter. Morgan Stanley now owns 1,519,156 shares of the railroad operator’s stock valued at $325,084,000 after buying an additional 752,193 shares in the last quarter. FMR LLC increased its holdings in Norfolk Southern by 22.2% in the second quarter. FMR LLC now owns 3,180,533 shares of the railroad operator’s stock valued at $558,406,000 after buying an additional 577,841 shares in the last quarter. Candlestick Capital Management LP purchased a new position in Norfolk Southern in the third quarter valued at $37,448,000. Finally, Artemis Investment Management LLP increased its holdings in Norfolk Southern by 24.4% in the third quarter. Artemis Investment Management LLP now owns 687,803 shares of the railroad operator’s stock valued at $147,092,000 after buying an additional 135,114 shares in the last quarter. 62.32% of the stock is owned by institutional investors.

About Norfolk Southern

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

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