Norfolk Southern (NYSE:NSC) Price Target Raised to $282.00

Norfolk Southern (NYSE:NSC - Get Free Report) had its price objective lifted by equities researchers at JPMorgan Chase & Co. from $272.00 to $282.00 in a report released on Tuesday,Benzinga reports. The firm currently has an "overweight" rating on the railroad operator's stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 5.83% from the stock's current price.

Several other equities analysts have also weighed in on the company. Jefferies Financial Group cut their target price on Norfolk Southern from $285.00 to $260.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Wells Fargo & Company cut their price target on shares of Norfolk Southern from $300.00 to $290.00 and set an "overweight" rating on the stock in a research report on Thursday, March 27th. Citigroup reduced their price objective on shares of Norfolk Southern from $298.00 to $259.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. BMO Capital Markets reaffirmed a "market perform" rating and issued a $255.00 target price on shares of Norfolk Southern in a research note on Thursday, April 24th. Finally, Evercore ISI lowered their price target on Norfolk Southern from $284.00 to $269.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $273.80.

Norfolk Southern Trading Up 1.3%

NSC stock traded up $3.33 during midday trading on Tuesday, reaching $266.47. The stock had a trading volume of 1,718,349 shares, compared to its average volume of 1,237,390. The firm has a market cap of $60.07 billion, a price-to-earnings ratio of 18.20, a PEG ratio of 2.15 and a beta of 1.31. Norfolk Southern has a twelve month low of $201.63 and a twelve month high of $277.60. The company has a quick ratio of 0.70, a current ratio of 0.78 and a debt-to-equity ratio of 1.15. The business has a fifty day simple moving average of $247.98 and a two-hundred day simple moving average of $240.67.

Norfolk Southern (NYSE:NSC - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The railroad operator reported $2.69 earnings per share for the quarter, missing analysts' consensus estimates of $2.72 by ($0.03). The business had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $3.01 billion. Norfolk Southern had a return on equity of 19.65% and a net margin of 27.40%. The company's quarterly revenue was down .4% on a year-over-year basis. During the same period last year, the firm earned $2.49 earnings per share. As a group, research analysts expect that Norfolk Southern will post 13 EPS for the current fiscal year.

Hedge Funds Weigh In On Norfolk Southern

A number of large investors have recently modified their holdings of NSC. Geode Capital Management LLC boosted its position in Norfolk Southern by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 4,694,573 shares of the railroad operator's stock valued at $1,098,472,000 after purchasing an additional 113,648 shares during the last quarter. Golden State Wealth Management LLC raised its stake in shares of Norfolk Southern by 883.3% during the 1st quarter. Golden State Wealth Management LLC now owns 177 shares of the railroad operator's stock worth $42,000 after purchasing an additional 159 shares in the last quarter. Dynamic Advisor Solutions LLC boosted its holdings in shares of Norfolk Southern by 1.9% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 3,571 shares of the railroad operator's stock valued at $846,000 after buying an additional 65 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Norfolk Southern by 4.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 71,463 shares of the railroad operator's stock valued at $16,925,000 after acquiring an additional 2,782 shares during the period. Finally, GAMMA Investing LLC grew its holdings in Norfolk Southern by 8.3% during the first quarter. GAMMA Investing LLC now owns 4,179 shares of the railroad operator's stock worth $990,000 after purchasing an additional 321 shares during the period. 75.10% of the stock is currently owned by institutional investors and hedge funds.

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 agriculture, forest, and consumer products comprising soybeans, wheat, corn, fertilizers, livestock and poultry feed, food products, food oils, flour, sweeteners, ethanol, lumber and wood products, pulp board and paper products, wood fibers, wood pulp, beverages, and canned goods; chemicals consist of sulfur and related chemicals, petroleum products comprising crude oil, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, sand, and natural gas liquids; metals and construction materials, such as steel, aluminum products, machinery, scrap metals, cement, aggregates, minerals, clay, transportation equipment, and military-related products; and automotive, including finished motor vehicles and automotive parts, as well as coal.