Norfolk Southern (NYSE:NSC) Stock Price Target Cut by Citigroup

Norfolk Southern (NYSE:NSC) had its price target lowered by analysts at Citigroup from $376.00 to $347.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the railroad operator’s stock. Citigroup’s price target suggests a potential upside of 10.83% from the company’s previous close.

Several other research analysts also recently weighed in on the company. Robert W. Baird increased their price target on Norfolk Southern from $360.00 to $377.00 and gave the stock a “neutral” rating in a research note on Monday, July 27th. TD Cowen upped their price objective on shares of Norfolk Southern from $337.00 to $376.00 and gave the company a “buy” rating in a report on Friday, July 24th. UBS Group reiterated a “neutral” rating and set a $363.00 target price on shares of Norfolk Southern in a research report on Friday, July 24th. Stephens raised shares of Norfolk Southern to a “hold” rating in a research report on Wednesday, July 8th. Finally, Wells Fargo & Company upped their price target on shares of Norfolk Southern from $365.00 to $385.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. Seven analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. According to data from MarketBeat, Norfolk Southern has an average rating of “Hold” and a consensus target price of $346.94.

Norfolk Southern Stock Down 1.0%

NSC traded down $3.21 during trading on Wednesday, hitting $313.10. 327,300 shares of the company’s stock were exchanged, compared to its average volume of 1,198,803. Norfolk Southern has a fifty-two week low of $277.80 and a fifty-two week high of $358.60. The stock has a market cap of $70.33 billion, a P/E ratio of 26.73, a PEG ratio of 4.74 and a beta of 1.29. 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 business’s 50 day moving average is $329.93 and its two-hundred day moving average is $317.30.

Norfolk Southern (NYSE:NSC) last posted 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. The firm had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.38 billion. Norfolk Southern had a net margin of 21.02% and a return on equity of 18.21%. The business’s revenue was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.29 EPS. As a group, equities analysts expect that Norfolk Southern will post 12.75 earnings per share for the current fiscal year.

Institutional Trading of Norfolk Southern

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of Norfolk Southern during the 2nd quarter valued at $5,033,549,000. Bank of America Corp DE bought a new stake in Norfolk Southern during the second quarter valued at $978,977,000. Dimensional Fund Advisors LP lifted its position in Norfolk Southern by 2.1% during the first quarter. Dimensional Fund Advisors LP now owns 2,259,558 shares of the railroad operator’s stock valued at $648,429,000 after purchasing an additional 46,127 shares during the last quarter. Amundi grew its stake in Norfolk Southern by 24.2% in the 1st quarter. Amundi now owns 2,226,885 shares of the railroad operator’s stock worth $639,116,000 after buying an additional 434,074 shares in the last quarter. Finally, HBK Investments L P increased its holdings in shares of Norfolk Southern by 0.8% in the 2nd quarter. HBK Investments L P now owns 1,750,000 shares of the railroad operator’s stock worth $550,532,000 after buying an additional 13,644 shares during the last quarter. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Company Profile

Norfolk Southern Corporation (NYSE: NSC) is a transportation company that operates one of the largest rail networks in the eastern United States. Through its principal subsidiary, Norfolk Southern Railway, the company provides freight rail transportation and related services for industrial, agricultural and consumer markets.

Norfolk Southern’s network serves 22 states and the District of Columbia, connecting major ports, manufacturing centers and distribution hubs across the East Coast and the Midwest.