Norfolk Southern (NYSE:NSC) PT Lowered to $170.00

Posted by on Oct 28th, 2023

Norfolk Southern (NYSE:NSC – Get Free Report) had its price objective lowered by investment analysts at Morgan Stanley from $174.00 to $170.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an “equal weight” rating on the railroad operator’s stock. Morgan Stanley’s target price would indicate a potential downside of 7.87% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. Susquehanna dropped their price objective on shares of Norfolk Southern from $245.00 to $215.00 and set a “neutral” rating on the stock in a report on Tuesday, October 3rd. Vertical Research upgraded Norfolk Southern from a “hold” rating to a “buy” rating and set a $260.00 price target on the stock in a research report on Tuesday, July 11th. Barclays decreased their price target on Norfolk Southern from $235.00 to $215.00 in a research report on Wednesday, October 4th. Royal Bank of Canada upped their price target on Norfolk Southern from $210.00 to $227.00 in a research report on Friday, July 28th. Finally, Bank of America cut Norfolk Southern from a “buy” rating to a “neutral” rating and decreased their price target for the company from $266.00 to $215.00 in a research report on Monday, October 2nd. Nine equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $237.15.

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Norfolk Southern Trading Down 0.4 %

Shares of NSC opened at $184.53 on Thursday. The firm has a market cap of $41.89 billion, a P/E ratio of 20.23, a price-to-earnings-growth ratio of 2.74 and a beta of 1.28. Norfolk Southern has a fifty-two week low of $183.09 and a fifty-two week high of $261.71. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.59 and a current ratio of 1.08. The business has a 50-day moving average of $200.56 and a 200 day moving average of $212.24.

Norfolk Southern (NYSE:NSC – Get Free Report) last released its quarterly earnings data on Wednesday, October 25th. The railroad operator reported $2.65 EPS for the quarter, missing the consensus estimate of $2.74 by ($0.09). The business had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $2.94 billion. Norfolk Southern had a net margin of 16.96% and a return on equity of 22.26%. As a group, research analysts forecast that Norfolk Southern will post 12.14 EPS for the current year.

Institutional Trading of Norfolk Southern

A number of hedge funds have recently bought and sold shares of NSC. Bank Julius Baer & Co. Ltd Zurich lifted its position in Norfolk Southern by 96,900.2% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 10,018,183 shares of the railroad operator’s stock worth $2,271,723,000 after buying an additional 10,007,855 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its position in Norfolk Southern by 95,518.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 3,028,232 shares of the railroad operator’s stock worth $746,217,000 after buying an additional 3,025,065 shares during the last quarter. Norges Bank purchased a new position in Norfolk Southern in the 4th quarter worth approximately $537,007,000. Price T Rowe Associates Inc. MD increased its stake in Norfolk Southern by 86.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,724,821 shares of the railroad operator’s stock worth $671,451,000 after purchasing an additional 1,265,666 shares during the period. Finally, First Trust Advisors LP increased its stake in Norfolk Southern by 221.8% in the 1st quarter. First Trust Advisors LP now owns 1,124,545 shares of the railroad operator’s stock worth $238,404,000 after purchasing an additional 775,059 shares during the period. Institutional investors own 72.37% of the company’s stock.

Norfolk Southern Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Norfolk Southern (NYSE:NSC)

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