Royal Bank Of Canada Issues Pessimistic Forecast for Norfolk Southern (NYSE:NSC) Stock Price

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

Other equities analysts also recently issued reports about the stock. TD Cowen raised their price objective on shares of Norfolk Southern from $313.00 to $337.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Wolfe Research upped their target price on shares of Norfolk Southern from $350.00 to $355.00 and gave the company an “outperform” rating in a research note on Tuesday, April 7th. JPMorgan Chase & Co. dropped their price target on shares of Norfolk Southern from $296.00 to $292.00 and set a “neutral” rating for the company in a research report on Tuesday, April 7th. BMO Capital Markets raised their price target on shares of Norfolk Southern from $305.00 to $310.00 and gave the stock a “market perform” rating in a research note on Monday, April 27th. Finally, Rothschild & Co Redburn upped their price objective on Norfolk Southern from $308.00 to $315.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. Six analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $320.35.

Norfolk Southern Stock Performance

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

Norfolk Southern (NYSE:NSC) last issued its earnings results on Friday, April 24th. The railroad operator reported $2.65 EPS for the quarter, topping the consensus estimate of $2.49 by $0.16. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.The firm had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same period last year, the business earned $2.69 earnings per share. Norfolk Southern’s quarterly revenue 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 year.

Institutional Trading of Norfolk Southern

Several hedge funds have recently modified their holdings of NSC. JPL Wealth Management LLC acquired a new stake in Norfolk Southern during the 3rd quarter valued at $25,000. BNP Paribas bought a new stake in shares of Norfolk Southern during the second quarter worth $26,000. GoalVest Advisory LLC grew its holdings in shares of Norfolk Southern by 933.3% during the fourth quarter. GoalVest Advisory LLC now owns 93 shares of the railroad operator’s stock worth $27,000 after purchasing an additional 84 shares during the last quarter. Meeder Asset Management Inc. increased its stake in shares of Norfolk Southern by 239.3% in the fourth quarter. Meeder Asset Management Inc. now owns 95 shares of the railroad operator’s stock valued at $27,000 after buying an additional 67 shares in the last quarter. Finally, FNY Investment Advisers LLC increased its stake in shares of Norfolk Southern by 669.2% in the third quarter. FNY Investment Advisers LLC now owns 100 shares of the railroad operator’s stock valued at $30,000 after buying an additional 87 shares in the last quarter. Institutional investors and hedge funds 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.