Goldman Sachs Group began coverage on shares of Norfolk Southern (NYSE:NSC) in a report released on Wednesday morning, Benzinga’s Daily Ratings Newsletter reports. The firm issued a buy rating and a $237.00 target price on the railroad operator’s stock.
Several other research analysts have also recently issued reports on the company. Cowen restated an outperform rating and issued a $230.00 price objective (up from $200.00) on shares of Norfolk Southern in a research note on Wednesday, April 24th. Argus raised their price objective on Norfolk Southern from $210.00 to $220.00 and gave the stock a buy rating in a research note on Tuesday, May 7th. Zacks Investment Research cut Farmers & Merchants Bancorp, Inc. (OH) from a hold rating to a strong sell rating in a research note on Thursday, May 9th. Barclays raised their price objective on T. Rowe Price Group from $90.00 to $95.00 and gave the stock an underweight rating in a research note on Thursday, April 25th. Finally, Deutsche Bank upgraded CYBERAGENT INC/ADR from a hold rating to a buy rating in a research report on Wednesday, June 12th. Two analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $204.47.
Shares of NYSE:NSC opened at $205.90 on Wednesday. Norfolk Southern has a 52-week low of $138.65 and a 52-week high of $211.46. The stock has a market capitalization of $54.76 billion, a PE ratio of 20.39, a price-to-earnings-growth ratio of 1.63 and a beta of 1.32. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.59 and a current ratio of 0.67. The business has a 50-day moving average price of $198.30.
Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Wednesday, April 24th. The railroad operator reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.17 by $0.34. Norfolk Southern had a return on equity of 17.80% and a net margin of 24.10%. The firm had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.82 billion. During the same period last year, the business posted $1.93 earnings per share. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. Research analysts expect that Norfolk Southern will post 10.77 EPS for the current fiscal year.
In related news, Chairman James A. Squires sold 3,024 shares of Norfolk Southern stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $204.71, for a total transaction of $619,043.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Michael Joseph Wheeler sold 2,500 shares of Norfolk Southern stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $204.57, for a total value of $511,425.00. Following the transaction, the chief operating officer now owns 12,919 shares of the company’s stock, valued at $2,642,839.83. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Eagle Global Advisors LLC grew its holdings in Norfolk Southern by 2.0% in the first quarter. Eagle Global Advisors LLC now owns 2,550 shares of the railroad operator’s stock valued at $477,000 after purchasing an additional 50 shares during the period. Harfst & Associates Inc. grew its holdings in Norfolk Southern by 3.7% in the first quarter. Harfst & Associates Inc. now owns 1,394 shares of the railroad operator’s stock valued at $260,000 after purchasing an additional 50 shares during the period. Alera Investment Advisors LLC grew its holdings in Norfolk Southern by 4.8% in the first quarter. Alera Investment Advisors LLC now owns 1,129 shares of the railroad operator’s stock valued at $211,000 after purchasing an additional 52 shares during the period. Telemus Capital LLC grew its holdings in Norfolk Southern by 3.5% in the first quarter. Telemus Capital LLC now owns 1,618 shares of the railroad operator’s stock valued at $302,000 after purchasing an additional 55 shares during the period. Finally, Contravisory Investment Management Inc. grew its holdings in Norfolk Southern by 18.4% in the second quarter. Contravisory Investment Management Inc. now owns 360 shares of the railroad operator’s stock valued at $72,000 after purchasing an additional 56 shares during the period. 72.50% of the stock is currently owned by institutional investors.
About Norfolk Southern
Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. The company transports industrial products, including chemicals, agriculture, and metals and construction materials; and coal, automobiles, and automotive parts.
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