Norfolk Southern (NYSE:NSC) Earns Buy Rating from Analysts at Goldman Sachs Group

Goldman Sachs Group assumed coverage on shares of Norfolk Southern (NYSE:NSC) in a report released on Wednesday morning, Benzinga’s Daily Ratings Newsletter reports. The firm issued a buy rating and a $237.00 target price on the railroad operator’s stock.

Several other equities analysts also recently issued reports on NSC. Barclays lifted their price objective on T. Rowe Price Group from $90.00 to $95.00 and gave the company an underweight rating in a research report on Thursday, April 25th. Morgan Stanley set a $36.00 price objective on ArcBest and gave the company a hold rating in a research report on Monday, July 8th. Argus lifted their price objective on Norfolk Southern from $210.00 to $220.00 and gave the company a buy rating in a research report on Tuesday, May 7th. ValuEngine downgraded Acceleron Pharma from a strong-buy rating to a buy rating in a research report on Thursday, April 18th. Finally, Citigroup set a $20.00 price objective on Compania de Minas Buenaventura SAA and gave the company a buy rating in a research report on Thursday, April 4th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $204.47.

Shares of NSC opened at $205.90 on Wednesday. The company has a fifty day simple moving average of $198.30. The company has a current ratio of 0.67, a quick ratio of 0.59 and a debt-to-equity ratio of 0.69. Norfolk Southern has a 52-week low of $138.65 and a 52-week high of $211.46. The company has a market cap of $53.59 billion, a P/E ratio of 21.65, a price-to-earnings-growth ratio of 1.60 and a beta of 1.32.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Wednesday, April 24th. The railroad operator reported $2.51 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.17 by $0.34. Norfolk Southern had a return on equity of 17.80% and a net margin of 24.10%. The firm had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.82 billion. During the same quarter in the previous year, the company posted $1.93 EPS. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, sell-side analysts forecast that Norfolk Southern will post 10.77 EPS for the current fiscal year.

In other news, Chairman James A. Squires sold 3,024 shares of Norfolk Southern stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $204.71, for a total value of $619,043.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Michael Joseph Wheeler sold 2,500 shares of Norfolk Southern stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $204.57, for a total value of $511,425.00. Following the completion of the sale, the chief operating officer now directly owns 12,919 shares of the company’s stock, valued at $2,642,839.83. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the stock. Weaver Consulting Group acquired a new stake in shares of Norfolk Southern during the first quarter worth $30,000. Advisory Alpha LLC acquired a new stake in shares of Norfolk Southern during the first quarter worth $42,000. Pinnacle Bank acquired a new stake in shares of Norfolk Southern during the fourth quarter worth $33,000. PRW Wealth Management LLC acquired a new stake in shares of Norfolk Southern during the fourth quarter worth $36,000. Finally, Contravisory Investment Management Inc. grew its stake in shares of Norfolk Southern by 18.4% during the second quarter. Contravisory Investment Management Inc. now owns 360 shares of the railroad operator’s stock worth $72,000 after purchasing an additional 56 shares during the period. 72.50% of the stock is 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. The company transports industrial products, including chemicals, agriculture, and metals and construction materials; and coal, automobiles, and automotive parts.

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Analyst Recommendations for Norfolk Southern (NYSE:NSC)

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