Royal Bank of Canada Reiterates “Sector Perform” Rating for Norfolk Southern (NYSE:NSC)

Norfolk Southern (NYSE:NSC)‘s stock had its “sector perform” rating reissued by equities researchers at Royal Bank of Canada in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $270.00 target price on the railroad operator’s stock. Royal Bank of Canada’s price target suggests a potential upside of 8.13% from the stock’s previous close.

A number of other analysts have also issued reports on NSC. Susquehanna lifted their price objective on shares of Norfolk Southern from $245.00 to $270.00 and gave the company a “neutral” rating in a research note on Thursday, March 28th. Stifel Nicolaus downgraded shares of Norfolk Southern from a “buy” rating to a “hold” rating and decreased their price target for the stock from $250.00 to $233.00 in a research report on Monday, January 29th. The Goldman Sachs Group raised their price target on shares of Norfolk Southern from $252.00 to $283.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. BMO Capital Markets decreased their price target on shares of Norfolk Southern from $250.00 to $245.00 and set a “market perform” rating for the company in a research report on Monday, January 29th. Finally, TD Cowen raised their price target on shares of Norfolk Southern from $236.00 to $253.00 and gave the stock a “market perform” rating in a research report on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $261.72.

Norfolk Southern Trading Up 0.0 %

NSC opened at $249.71 on Wednesday. The firm has a market capitalization of $61.48 billion, a P/E ratio of 31.14, a P/E/G ratio of 3.36 and a beta of 1.30. The firm’s 50 day moving average is $254.08 and its 200-day moving average is $228.91. Norfolk Southern has a 52-week low of $183.09 and a 52-week high of $263.66. The company has a quick ratio of 1.14, a current ratio of 1.24 and a debt-to-equity ratio of 1.34.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Friday, January 26th. The railroad operator reported $2.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.87 by ($0.04). The firm had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.09 billion. Norfolk Southern had a net margin of 15.03% and a return on equity of 21.06%. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.42 EPS. Analysts expect that Norfolk Southern will post 12.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Norfolk Southern

Hedge funds and other institutional investors have recently modified their holdings of the company. VisionPoint Advisory Group LLC acquired a new position in shares of Norfolk Southern during the second quarter valued at $25,000. Worth Asset Management LLC acquired a new position in shares of Norfolk Southern during the first quarter valued at $30,000. Exchange Traded Concepts LLC raised its stake in shares of Norfolk Southern by 662.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 122 shares of the railroad operator’s stock valued at $29,000 after purchasing an additional 106 shares in the last quarter. Rise Advisors LLC bought a new stake in shares of Norfolk Southern during the first quarter valued at about $34,000. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in shares of Norfolk Southern during the fourth quarter valued at about $32,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

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.