Robert W. Baird Issues Positive Forecast for Norfolk Southern (NYSE:NSC) Stock Price

Key Points

• Robert W. Baird raised its price target on Norfolk Southern from $330 to $360 while keeping a neutral rating, implying about 11.3% upside from the current share price.
• Other analysts were mixed but generally constructive: TD Cowen, Barclays, and Wolfe Research lifted targets and kept bullish ratings, while Jefferies cut its target. Overall, the stock still carries a Hold consensus with an average target of $325.39.
• Norfolk Southern’s latest earnings beat expectations on EPS, reporting $2.65 versus the expected $2.49, though revenue came in below estimates at $3.0 billion versus $3.13 billion forecast.

Norfolk Southern (NYSE:NSC - Get Free Report) had its price target upped by stock analysts at Robert W. Baird from $330.00 to $360.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a "neutral" rating on the railroad operator's stock. Robert W. Baird's price target points to a potential upside of 11.31% from the stock's current price.

A number of other brokerages have also weighed in on NSC. TD Cowen raised their price objective on Norfolk Southern from $313.00 to $337.00 and gave the company a "buy" rating in a research report on Monday, April 27th. Barclays boosted their target price on Norfolk Southern from $320.00 to $360.00 and gave the stock an "overweight" rating in a research report on Monday, April 27th. Wall Street Zen raised Norfolk Southern from a "sell" rating to a "hold" rating in a research note on Saturday, May 2nd. Jefferies Financial Group cut their price target on Norfolk Southern from $350.00 to $310.00 and set a "hold" rating for the company in a report on Monday, April 6th. Finally, Wolfe Research lifted their price objective on Norfolk Southern from $350.00 to $355.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 7th. Seven investment analysts have rated the stock with a Buy rating and seventeen have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Norfolk Southern currently has an average rating of "Hold" and a consensus target price of $325.39.

Norfolk Southern Stock Up 1.3%

NYSE NSC opened at $323.43 on Friday. The stock's 50 day moving average is $312.72 and its 200 day moving average is $302.83. The company has a current ratio of 0.91, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. Norfolk Southern has a 12 month low of $257.49 and a 12 month high of $326.00. The stock has a market cap of $72.64 billion, a PE ratio of 27.25, a P/E/G ratio of 5.87 and a beta of 1.27.

Norfolk Southern (NYSE:NSC - Get Free Report) last released its quarterly earnings data on Friday, April 24th. The railroad operator reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.49 by $0.16. Norfolk Southern had a net margin of 21.91% and a return on equity of 18.30%. The firm had revenue of $3 billion for the quarter, compared to analysts' expectations of $3.13 billion. During the same quarter last year, the business posted $2.69 earnings per share. The company's revenue for the quarter was up .2% compared to the same quarter last year. Research analysts predict that Norfolk Southern will post 12.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Norfolk Southern

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of Norfolk Southern by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 20,825,837 shares of the railroad operator's stock valued at $6,012,836,000 after purchasing an additional 272,651 shares during the last quarter. State Street Corp boosted its stake in Norfolk Southern by 4.1% during the fourth quarter. State Street Corp now owns 9,710,549 shares of the railroad operator's stock worth $2,803,630,000 after buying an additional 379,819 shares during the period. Geode Capital Management LLC boosted its stake in Norfolk Southern by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 4,878,029 shares of the railroad operator's stock worth $1,401,797,000 after buying an additional 36,205 shares during the period. Norges Bank bought a new position in Norfolk Southern during the fourth quarter valued at $1,084,701,000. Finally, Pentwater Capital Management LP increased 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.