Norfolk Southern (NYSE:NSC) Price Target Lowered to $320.00 at Royal Bank Of Canada

Norfolk Southern (NYSE:NSC) had its price target decreased by investment analysts at Royal Bank Of Canada from $360.00 to $320.00 in a report released on Wednesday,MarketScreener reports. The firm presently has a “sector perform” rating on the railroad operator’s stock. Royal Bank Of Canada’s price target would indicate a potential upside of 4.83% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. Argus raised Norfolk Southern to a “hold” rating in a research note on Wednesday, February 25th. Zacks Research raised Norfolk Southern from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Wall Street Zen upgraded Norfolk Southern from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. JPMorgan Chase & Co. dropped their price objective on Norfolk Southern from $296.00 to $292.00 and set a “neutral” rating for the company in a report on Tuesday, April 7th. Finally, Robert W. Baird upped their target price on shares of Norfolk Southern from $315.00 to $330.00 and gave the company a “neutral” rating in a research report on Tuesday, April 28th. Six analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $320.35.

Norfolk Southern Price Performance

Shares of NSC stock opened at $305.24 on Wednesday. Norfolk Southern has a 1 year low of $252.54 and a 1 year high of $326.00. The company has a current ratio of 0.91, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. The firm’s 50 day moving average is $310.11 and its 200-day moving average is $300.83. The firm has a market capitalization of $68.56 billion, a price-to-earnings ratio of 25.72, a PEG ratio of 5.61 and a beta of 1.27.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Friday, April 24th. The railroad operator reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.49 by $0.16. Norfolk Southern had a net margin of 21.91% and a return on equity of 18.30%. The business had revenue of $3 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same quarter last year, the business posted $2.69 earnings per share. Norfolk Southern’s revenue for the quarter was up .2% compared to the same quarter last year. Sell-side analysts forecast that Norfolk Southern will post 12.12 EPS for the current fiscal year.

Hedge Funds Weigh In On Norfolk Southern

Several hedge funds have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Norfolk Southern during the fourth quarter worth $1,084,701,000. Pentwater Capital Management LP acquired a new position in shares of Norfolk Southern in the 3rd quarter valued at $826,128,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Norfolk Southern by 545.2% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,306,203 shares of the railroad operator’s stock valued at $392,396,000 after buying an additional 1,103,748 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of Norfolk Southern in the 3rd quarter valued at $329,629,000. Finally, HBK Investments L P raised its stake in Norfolk Southern by 67.7% during the 4th quarter. HBK Investments L P now owns 2,130,000 shares of the railroad operator’s stock worth $614,974,000 after buying an additional 860,000 shares during the period. Institutional investors and hedge funds own 75.10% of the company’s stock.

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.