Norfolk Southern (NYSE:NSC) Stock Price Target Cut by JPMorgan Chase & Co.

Norfolk Southern (NYSE:NSC) had its target price dropped by stock analysts at JPMorgan Chase & Co. from $338.00 to $318.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the railroad operator’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 0.68% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. Evercore boosted their price target on Norfolk Southern from $358.00 to $360.00 in a report on Wednesday, September 30th. Barclays increased their price objective on Norfolk Southern from $360.00 to $400.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. TD Cowen lifted their price objective on Norfolk Southern from $337.00 to $376.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Royal Bank Of Canada cut their target price on shares of Norfolk Southern from $360.00 to $330.00 and set a “sector perform” rating for the company in a research note on Thursday, September 24th. Finally, Citigroup upped their target price on shares of Norfolk Southern from $351.00 to $376.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Seven research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $348.75.

Norfolk Southern Trading Down 0.1%

Shares of NSC opened at $315.85 on Monday. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.83 and a quick ratio of 0.73. The firm has a 50 day simple moving average of $329.93 and a 200-day simple moving average of $317.30. Norfolk Southern has a 1-year low of $277.80 and a 1-year high of $358.60. The stock has a market cap of $70.94 billion, a price-to-earnings ratio of 26.95, a price-to-earnings-growth ratio of 4.74 and a beta of 1.29.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data 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 the consensus estimate of $3.38 billion. Norfolk Southern had a return on equity of 18.21% and a net margin of 21.02%.The company’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.29 EPS. Equities analysts forecast that Norfolk Southern will post 12.75 EPS for the current fiscal year.

Institutional Investors Weigh In On Norfolk Southern

Several institutional investors have recently bought and sold shares of NSC. BlackRock Inc. purchased a new position in shares of Norfolk Southern in the 2nd quarter valued at $5,033,549,000. Bank of America Corp DE purchased a new stake in Norfolk Southern during the 2nd quarter worth $978,977,000. Dimensional Fund Advisors LP boosted its position in Norfolk Southern by 2.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,259,558 shares of the railroad operator’s stock worth $648,429,000 after purchasing an additional 46,127 shares during the period. Amundi increased its holdings in Norfolk Southern by 24.2% in the 1st quarter. Amundi now owns 2,226,885 shares of the railroad operator’s stock valued at $639,116,000 after purchasing an additional 434,074 shares in the last quarter. Finally, London Co. of Virginia raised its position in Norfolk Southern by 0.3% in the fourth quarter. London Co. of Virginia now owns 1,810,853 shares of the railroad operator’s stock valued at $522,838,000 after purchasing an additional 5,729 shares during the period. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

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.