Norfolk Southern (NYSE:NSC) Price Target Raised to $355.00

Key Points

• BMO Capital Markets raised Norfolk Southern’s price target to $355 from $310 while maintaining a “market perform” rating, implying roughly 0.94% upside from the prior close.
• Analyst sentiment remains mixed but centered on “Hold”: the stock has seven Buy ratings and 16 Hold ratings, with an average price target of $348. Wells Fargo raised its target to $385 and assigned an “overweight” rating.
• Norfolk Southern exceeded quarterly expectations, reporting $3.52 EPS versus the $3.32 consensus and revenue of $3.46 billion, up 12.5% year over year. Institutional investors own approximately 75.1% of the company.

Norfolk Southern (NYSE:NSC - Get Free Report) had its target price raised by equities research analysts at BMO Capital Markets from $310.00 to $355.00 in a research report issued on Monday,Benzinga reports. The firm presently has a "market perform" rating on the railroad operator's stock. BMO Capital Markets' target price would indicate a potential upside of 0.94% from the company's previous close.

A number of other brokerages have also recently commented on NSC. Royal Bank Of Canada raised their target price on Norfolk Southern from $320.00 to $360.00 and gave the company a "sector perform" rating in a report on Friday. Weiss Ratings upgraded shares of Norfolk Southern from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday. Wall Street Zen raised shares of Norfolk Southern from a "sell" rating to a "hold" rating in a research note on Saturday, May 2nd. Wells Fargo & Company boosted their price target on shares of Norfolk Southern from $365.00 to $385.00 and gave the stock an "overweight" rating in a research note on Friday. Finally, Sanford C. Bernstein decreased their target price on Norfolk Southern from $322.00 to $313.00 and set an "outperform" rating for the company in a report on Tuesday, March 31st. Seven investment analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $348.00.

Norfolk Southern Trading Up 0.3%

Shares of NSC opened at $351.69 on Monday. The firm has a 50-day moving average price of $317.37 and a 200 day moving average price of $306.29. The firm has a market capitalization of $78.99 billion, a P/E ratio of 30.01, a P/E/G ratio of 6.32 and a beta of 1.27. 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 has a 12-month low of $268.23 and a 12-month high of $358.60.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.32 by $0.20. The firm had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.38 billion. Norfolk Southern had a return on equity of 18.21% and a net margin of 21.02%.The company's quarterly revenue was up 12.5% on a year-over-year basis. During the same period last year, the company earned $3.29 EPS. Sell-side analysts forecast that Norfolk Southern will post 12.42 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in NSC. Moss Adams Wealth Advisors LLC raised its position in Norfolk Southern by 4.6% in the 4th quarter. Moss Adams Wealth Advisors LLC now owns 791 shares of the railroad operator's stock valued at $228,000 after purchasing an additional 35 shares during the last quarter. Confluence Wealth Services Inc. raised its holdings in shares of Norfolk Southern by 1.1% in the fourth quarter. Confluence Wealth Services Inc. now owns 3,090 shares of the railroad operator's stock valued at $892,000 after buying an additional 35 shares during the last quarter. Exencial Wealth Advisors LLC boosted its stake in shares of Norfolk Southern by 1.1% during the fourth quarter. Exencial Wealth Advisors LLC now owns 3,216 shares of the railroad operator's stock worth $929,000 after buying an additional 35 shares during the period. Sovereign Financial Group Inc. grew its holdings in shares of Norfolk Southern by 3.3% during the first quarter. Sovereign Financial Group Inc. now owns 1,108 shares of the railroad operator's stock worth $318,000 after buying an additional 35 shares during the last quarter. Finally, Bar Harbor Wealth Management increased its position in Norfolk Southern by 0.6% in the 1st quarter. Bar Harbor Wealth Management now owns 6,290 shares of the railroad operator's stock valued at $1,805,000 after acquiring an additional 36 shares during the period. Hedge funds and other 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.

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