Norfolk Southern (NYSE:NSC) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Norfolk Southern (NYSE:NSC) had its price target increased by investment analysts at JPMorgan Chase & Co. from $272.00 to $282.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the railroad operator’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 7.67% from the stock’s previous close.

A number of other equities research analysts have also issued reports on NSC. UBS Group raised their price target on Norfolk Southern from $275.00 to $279.00 and gave the stock a “buy” rating in a research note on Friday, May 30th. Bank of America lifted their price target on Norfolk Southern from $280.00 to $290.00 and gave the stock a “buy” rating in a research report on Wednesday, July 2nd. Jefferies Financial Group lowered their price target on Norfolk Southern from $285.00 to $260.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. Stifel Nicolaus cut their price target on Norfolk Southern from $265.00 to $247.00 and set a “hold” rating for the company in a research note on Monday, April 14th. Finally, Evercore ISI cut their price objective on Norfolk Southern from $284.00 to $269.00 and set an “outperform” rating for the company in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $267.29.

Norfolk Southern Stock Performance

NSC stock traded up $1.92 during trading on Tuesday, reaching $261.91. The stock had a trading volume of 314,336 shares, compared to its average volume of 1,233,219. Norfolk Southern has a 52 week low of $201.63 and a 52 week high of $277.60. The stock’s 50 day moving average is $244.83 and its two-hundred day moving average is $240.00. The company has a current ratio of 0.78, a quick ratio of 0.70 and a debt-to-equity ratio of 1.15. The firm has a market cap of $59.05 billion, a PE ratio of 17.89, a PEG ratio of 2.13 and a beta of 1.31.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Wednesday, April 23rd. The railroad operator reported $2.69 EPS for the quarter, missing analysts’ consensus estimates of $2.72 by ($0.03). Norfolk Southern had a return on equity of 19.65% and a net margin of 27.40%. The company had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $3.01 billion. During the same quarter in the previous year, the company earned $2.49 EPS. The business’s quarterly revenue was down .4% compared to the same quarter last year. As a group, equities analysts anticipate that Norfolk Southern will post 13 earnings per share for the current year.

Hedge Funds Weigh In On Norfolk Southern

Hedge funds and other institutional investors have recently bought and sold shares of the stock. WPG Advisers LLC acquired a new position in shares of Norfolk Southern during the first quarter valued at approximately $27,000. Fourth Dimension Wealth LLC bought a new stake in Norfolk Southern during the fourth quarter worth approximately $28,000. Atlantic Private Wealth LLC bought a new stake in Norfolk Southern during the fourth quarter worth approximately $29,000. Putney Financial Group LLC purchased a new position in shares of Norfolk Southern during the fourth quarter valued at $30,000. Finally, Greenline Partners LLC purchased a new position in shares of Norfolk Southern during the fourth quarter valued at $31,000. 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.