Norfolk Southern (NYSE:NSC) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Norfolk Southern (NYSE:NSC) had its target price hoisted by BMO Capital Markets from $310.00 to $355.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “market perform” rating on the railroad operator’s stock. BMO Capital Markets’ price target points to a potential upside of 0.94% from the company’s previous close.

Several other equities research analysts have also commented on NSC. Royal Bank Of Canada boosted their target price on shares of Norfolk Southern from $320.00 to $360.00 and gave the stock a “sector perform” rating in a research report on Friday. Susquehanna upped their target price on shares of Norfolk Southern from $337.00 to $360.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 14th. Barclays increased their target price on shares of Norfolk Southern from $360.00 to $400.00 and gave the company an “overweight” rating in a report on Friday. Citigroup boosted their price target on Norfolk Southern from $351.00 to $376.00 and gave the stock a “neutral” rating in a research note on Friday. Finally, TD Cowen raised their price objective on Norfolk Southern from $337.00 to $376.00 and gave the company a “buy” rating in a research note on Friday. Seven investment analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $348.00.

Norfolk Southern Trading Up 0.3%

NYSE NSC opened at $351.69 on Monday. The company has a quick ratio of 0.73, a current ratio of 0.83 and a debt-to-equity ratio of 0.98. The stock 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. Norfolk Southern has a 52-week low of $268.23 and a 52-week high of $358.60. The firm has a 50-day moving average price of $317.37 and a 200 day moving average price of $306.29.

Norfolk Southern (NYSE:NSC) last released its earnings results on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.32 by $0.20. Norfolk Southern had a return on equity of 18.21% and a net margin of 21.02%.The company had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.38 billion. During the same quarter in the previous year, the firm posted $3.29 EPS. The firm’s quarterly revenue was up 12.5% on a year-over-year basis. Equities research analysts expect that Norfolk Southern will post 12.42 EPS for the current year.

Hedge Funds Weigh In On Norfolk Southern

Institutional investors and hedge funds have recently bought and sold shares of the stock. Louisiana State Employees Retirement System bought a new position in shares of Norfolk Southern during the first quarter worth about $3,272,000. O Shaughnessy Asset Management LLC grew its holdings in shares of Norfolk Southern by 9.8% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 43,408 shares of the railroad operator’s stock valued at $12,533,000 after buying an additional 3,887 shares in the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. increased its stake in shares of Norfolk Southern by 49.3% in the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 50,620 shares of the railroad operator’s stock worth $14,615,000 after acquiring an additional 16,720 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in Norfolk Southern by 8.6% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 138,194 shares of the railroad operator’s stock worth $39,899,000 after acquiring an additional 10,910 shares in the last quarter. Finally, Gabelli Funds LLC raised its holdings in Norfolk Southern by 54.4% during the fourth quarter. Gabelli Funds LLC now owns 51,112 shares of the railroad operator’s stock valued at $14,757,000 after buying an additional 18,012 shares in the last quarter. 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.