Morgan Stanley Increases Norfolk Southern (NSC) Price Target to $116.00

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Norfolk Southern (NYSE:NSC) had its target price increased by Morgan Stanley from $115.00 to $116.00 in a report published on Monday morning. They currently have an underweight rating on the railroad operator’s stock.

A number of other analysts also recently issued reports on NSC. Zacks Investment Research reissued a buy rating and issued a $162.00 price objective on shares of Norfolk Southern in a report on Monday, December 31st. TD Securities raised shares of Norfolk Southern from a hold rating to a buy rating in a report on Thursday, October 25th. They noted that the move was a valuation call. Bank of America boosted their price objective on shares of Norfolk Southern from $183.00 to $187.00 and gave the company a buy rating in a report on Monday, October 1st. Barclays reissued a hold rating and issued a $190.00 price objective on shares of Norfolk Southern in a report on Wednesday, September 26th. Finally, Argus reissued a buy rating on shares of Norfolk Southern in a report on Thursday, January 3rd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $176.42.

Shares of NSC stock opened at $161.41 on Monday. The company has a current ratio of 0.86, a quick ratio of 0.75 and a debt-to-equity ratio of 0.69. Norfolk Southern has a 1 year low of $127.79 and a 1 year high of $186.91. The firm has a market capitalization of $43.31 billion, a price-to-earnings ratio of 24.42, a price-to-earnings-growth ratio of 1.30 and a beta of 1.33.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Wednesday, October 24th. The railroad operator reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.44 by $0.08. Norfolk Southern had a net margin of 52.82% and a return on equity of 15.12%. The firm had revenue of $2.95 billion for the quarter, compared to analyst estimates of $2.90 billion. During the same period in the previous year, the business earned $1.75 EPS. The company’s revenue was up 10.4% compared to the same quarter last year. Research analysts expect that Norfolk Southern will post 9.24 EPS for the current year.

In related news, COO Michael Joseph Wheeler sold 801 shares of the company’s stock in a transaction that occurred on Wednesday, November 7th. The shares were sold at an average price of $172.55, for a total transaction of $138,212.55. Following the completion of the transaction, the chief operating officer now directly owns 9,406 shares in the company, valued at approximately $1,623,005.30. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.23% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc boosted its stake in shares of Norfolk Southern by 1.6% in the 3rd quarter. Vanguard Group Inc now owns 21,159,132 shares of the railroad operator’s stock valued at $3,819,223,000 after purchasing an additional 336,725 shares during the last quarter. FMR LLC boosted its stake in shares of Norfolk Southern by 14.8% in the 3rd quarter. FMR LLC now owns 8,080,231 shares of the railroad operator’s stock valued at $1,458,480,000 after purchasing an additional 1,043,444 shares during the last quarter. Capital International Investors boosted its stake in shares of Norfolk Southern by 47.1% in the 3rd quarter. Capital International Investors now owns 7,020,157 shares of the railroad operator’s stock valued at $1,267,138,000 after purchasing an additional 2,249,296 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Norfolk Southern by 0.9% in the 3rd quarter. Legal & General Group Plc now owns 1,553,179 shares of the railroad operator’s stock valued at $280,349,000 after purchasing an additional 13,737 shares during the last quarter. Finally, Artemis Investment Management LLP boosted its stake in shares of Norfolk Southern by 21.3% in the 3rd quarter. Artemis Investment Management LLP now owns 1,462,459 shares of the railroad operator’s stock valued at $263,981,000 after purchasing an additional 256,367 shares during the last quarter. Hedge funds and other institutional investors own 72.95% of the company’s stock.

Norfolk Southern Company Profile

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. It also transports overseas freight through various Atlantic and Gulf Coast ports, as well as coal, automotive, and industrial products; and provides commuter passenger services.

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