Norfolk Southern (NYSE:NSC) Price Target Lowered to $316.00 at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. lowered Norfolk Southern’s price target from $331 to $316 while keeping a neutral rating. The new target implies about 3.39% downside from the stock’s current price.
• Other analysts have been mixed on the railroad operator, with recent target changes and rating shifts leaving the stock with an overall Hold consensus. MarketBeat data shows an average price target of $326.72.
• Norfolk Southern recently traded around $327.09, near its 12-month high, after posting quarterly EPS of $2.65, which beat estimates, though revenue came in below expectations at $3 billion.

Norfolk Southern (NYSE:NSC - Get Free Report) had its price target decreased by stock analysts at JPMorgan Chase & Co. from $331.00 to $316.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a "neutral" rating on the railroad operator's stock. JPMorgan Chase & Co.'s target price suggests a potential downside of 3.39% from the stock's current price.

Several other equities research analysts have also issued reports on the stock. Wall Street Zen upgraded shares of Norfolk Southern from a "sell" rating to a "hold" rating in a research note on Saturday, May 2nd. Weiss Ratings cut Norfolk Southern from a "buy (b-)" rating to a "hold (c+)" rating in a report on Monday, April 27th. BMO Capital Markets raised their price objective on Norfolk Southern from $305.00 to $310.00 and gave the company a "market perform" rating in a report on Monday, April 27th. Citigroup lifted their target price on Norfolk Southern from $335.00 to $351.00 and gave the company a "neutral" rating in a research report on Thursday. Finally, Royal Bank Of Canada dropped their target price on Norfolk Southern from $360.00 to $320.00 and set a "sector perform" rating on the stock in a report on Wednesday, June 24th. Seven analysts have rated the stock with a Buy rating and seventeen have given a Hold rating to the company. Based on data from MarketBeat.com, Norfolk Southern has an average rating of "Hold" and a consensus price target of $326.72.

Norfolk Southern Stock Up 1.0%

NYSE NSC traded up $3.32 during trading on Friday, hitting $327.09. The stock had a trading volume of 107,589 shares, compared to its average volume of 1,229,068. The company has a market capitalization of $73.46 billion, a PE ratio of 27.54, a P/E/G ratio of 5.87 and a beta of 1.27. Norfolk Southern has a 12 month low of $257.49 and a 12 month high of $327.38. The company's 50-day moving average price is $312.72 and its two-hundred day moving average price is $302.83. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.91.

Norfolk Southern (NYSE:NSC - Get Free Report) last announced 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. Norfolk Southern had a net margin of 21.91% and a return on equity of 18.30%. The business had revenue of $3 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same quarter in the previous year, the firm posted $2.69 earnings per share. The firm's revenue for the quarter was up .2% on a year-over-year basis. As a group, sell-side analysts forecast that Norfolk Southern will post 12.16 EPS for the current year.

Hedge Funds Weigh In On Norfolk Southern

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Norfolk Southern by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 20,825,837 shares of the railroad operator's stock worth $6,012,836,000 after acquiring an additional 272,651 shares in the last quarter. State Street Corp grew its position in shares of Norfolk Southern by 4.1% in the 4th quarter. State Street Corp now owns 9,710,549 shares of the railroad operator's stock valued at $2,803,630,000 after buying an additional 379,819 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Norfolk Southern by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 4,878,029 shares of the railroad operator's stock valued at $1,401,797,000 after acquiring an additional 36,205 shares during the last quarter. Norges Bank bought a new stake in shares of Norfolk Southern in the 4th quarter valued at $1,084,701,000. Finally, Pentwater Capital Management LP boosted its position in Norfolk Southern by 9.8% during the fourth quarter. Pentwater Capital Management LP now owns 3,019,000 shares of the railroad operator's stock valued at $871,646,000 after acquiring an additional 269,000 shares during the last quarter. 75.10% of the stock is owned by institutional investors.

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.

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