Norfolk Southern (NYSE:NSC – Get Free Report) had its price objective increased by research analysts at Robert W. Baird from $330.00 to $360.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the railroad operator’s stock. Robert W. Baird’s price target would suggest a potential upside of 11.31% from the company’s previous close.
Several other research firms have also commented on NSC. Wall Street Zen raised Norfolk Southern from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. TD Cowen increased their price target on Norfolk Southern from $313.00 to $337.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Jefferies Financial Group lowered 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. UBS Group set a $327.00 price objective on shares of Norfolk Southern in a report on Thursday, May 7th. Finally, Susquehanna upped their price objective on shares of Norfolk Southern from $330.00 to $337.00 and gave the company a “neutral” rating in a report on Friday, June 5th. Seven equities research analysts have rated the stock with a Buy rating and seventeen have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $325.39.
Check Out Our Latest Stock Analysis on NSC
Norfolk Southern Trading Up 1.3%
Norfolk Southern (NYSE:NSC – Get Free Report) last posted its quarterly earnings data on Friday, April 24th. The railroad operator reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.49 by $0.16. The company had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.Norfolk Southern’s revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.69 EPS. On average, sell-side analysts expect that Norfolk Southern will post 12.16 earnings per share for the current year.
Institutional Investors Weigh In On Norfolk Southern
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Brighton Jones LLC grew its holdings in Norfolk Southern by 4.9% during the fourth quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator’s stock worth $400,000 after acquiring an additional 79 shares during the period. Intech Investment Management LLC boosted its position in Norfolk Southern by 40.4% in the 1st quarter. Intech Investment Management LLC now owns 6,447 shares of the railroad operator’s stock worth $1,527,000 after purchasing an additional 1,855 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in Norfolk Southern in the 2nd quarter worth approximately $327,000. Schnieders Capital Management LLC. grew its stake in shares of Norfolk Southern by 64.1% during the 2nd quarter. Schnieders Capital Management LLC. now owns 4,275 shares of the railroad operator’s stock worth $1,094,000 after purchasing an additional 1,670 shares during the period. Finally, Jump Financial LLC grew its stake in shares of Norfolk Southern by 185.1% during the 2nd quarter. Jump Financial LLC now owns 4,588 shares of the railroad operator’s stock worth $1,174,000 after purchasing an additional 2,979 shares during the period. 75.10% of the stock is owned by institutional investors and hedge funds.
About Norfolk Southern
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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