TD Cowen Lowers Norfolk Southern (NYSE:NSC) Price Target to $313.00

Norfolk Southern (NYSE:NSC) had its target price cut by research analysts at TD Cowen from $314.00 to $313.00 in a report released on Tuesday,MarketScreener reports. The brokerage currently has a “buy” rating on the railroad operator’s stock. TD Cowen’s price objective would suggest a potential upside of 9.10% from the company’s previous close.

NSC has been the subject of several other reports. UBS Group downgraded Norfolk Southern from a “buy” rating to a “neutral” rating and set a $342.00 price target for the company. in a report on Friday, February 6th. JPMorgan Chase & Co. lowered their price objective on Norfolk Southern from $301.00 to $296.00 and set a “neutral” rating on the stock in a report on Friday, January 30th. Benchmark restated a “hold” rating on shares of Norfolk Southern in a research note on Friday, January 30th. Robert W. Baird increased their price objective on Norfolk Southern from $288.00 to $315.00 and gave the stock a “neutral” rating in a research report on Friday, March 6th. Finally, Weiss Ratings upgraded shares of Norfolk Southern from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, March 12th. Seven equities research analysts have rated the stock with a Buy rating and seventeen have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $305.53.

Norfolk Southern Stock Performance

NYSE:NSC opened at $286.90 on Tuesday. Norfolk Southern has a 12 month low of $201.63 and a 12 month high of $319.94. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.85 and a quick ratio of 0.78. The firm has a market capitalization of $70.24 billion, a PE ratio of 22.64, a price-to-earnings-growth ratio of 5.25 and a beta of 1.31. The business’s fifty day moving average price is $299.90 and its 200 day moving average price is $293.15.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Thursday, January 29th. The railroad operator reported $3.22 earnings per share for the quarter, topping analysts’ consensus estimates of $2.76 by $0.46. Norfolk Southern had a net margin of 23.59% and a return on equity of 18.78%. The firm had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3.03 billion. During the same quarter in the prior year, the business earned $3.04 EPS. Norfolk Southern’s quarterly revenue was down 1.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Norfolk Southern will post 13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Norfolk Southern

Several institutional investors have recently added to or reduced their stakes in NSC. Norges Bank purchased a new position in Norfolk Southern in the fourth quarter valued at approximately $1,084,701,000. Pentwater Capital Management LP acquired a new position in shares of Norfolk Southern during the 3rd quarter valued at $826,128,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Norfolk Southern by 545.2% during the third 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 worth $392,396,000 after purchasing an additional 1,103,748 shares in the last quarter. Balyasny Asset Management L.P. acquired a new position in Norfolk Southern during the 3rd quarter worth approximately $329,629,000. Finally, HBK Investments L P increased 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. 75.10% of the stock is currently owned by institutional investors and hedge funds.

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.