Norfolk Southern (NYSE:NSC) Now Covered by Analysts at Goldman Sachs Group

Goldman Sachs Group began coverage on shares of Norfolk Southern (NYSE:NSC) in a research note released on Wednesday, Benzinga’s Daily Ratings Newsletter reports. The firm issued a buy rating and a $237.00 price objective on the railroad operator’s stock.

Several other analysts have also recently issued reports on the company. ValuEngine cut Acceleron Pharma from a strong-buy rating to a buy rating in a report on Thursday, April 18th. Deutsche Bank raised CYBERAGENT INC/ADR from a hold rating to a buy rating in a report on Wednesday, June 12th. Cowen reaffirmed an outperform rating and set a $230.00 price objective (up from $200.00) on shares of Norfolk Southern in a report on Wednesday, April 24th. Argus upped their price objective on Norfolk Southern from $210.00 to $220.00 and gave the stock a buy rating in a report on Tuesday, May 7th. Finally, Citigroup set a $20.00 price objective on Compania de Minas Buenaventura SAA and gave the stock a buy rating in a report on Thursday, April 4th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company. The company has an average rating of Buy and an average price target of $204.47.

NSC stock opened at $205.90 on Wednesday. Norfolk Southern has a 1-year low of $138.65 and a 1-year high of $211.46. The company has a quick ratio of 0.59, a current ratio of 0.67 and a debt-to-equity ratio of 0.69. The company has a market cap of $54.76 billion, a P/E ratio of 20.39, a price-to-earnings-growth ratio of 1.63 and a beta of 1.32. The business has a 50 day simple moving average of $198.30.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Wednesday, April 24th. The railroad operator reported $2.51 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.17 by $0.34. The business had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.82 billion. Norfolk Southern had a return on equity of 17.80% and a net margin of 24.10%. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.93 EPS. On average, equities analysts predict that Norfolk Southern will post 10.77 EPS for the current fiscal year.

In related news, COO Michael Joseph Wheeler sold 2,500 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $204.57, for a total transaction of $511,425.00. Following the sale, the chief operating officer now owns 12,919 shares in the company, valued at approximately $2,642,839.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman James A. Squires sold 3,024 shares of the stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $204.71, for a total value of $619,043.04. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. Eagle Global Advisors LLC increased its stake 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 worth $477,000 after purchasing an additional 50 shares during the period. Harfst & Associates Inc. grew its position in shares of Norfolk Southern by 3.7% during the 1st quarter. Harfst & Associates Inc. now owns 1,394 shares of the railroad operator’s stock worth $260,000 after buying an additional 50 shares in the last quarter. Alera Investment Advisors LLC grew its position in shares of Norfolk Southern by 4.8% during the 1st quarter. Alera Investment Advisors LLC now owns 1,129 shares of the railroad operator’s stock worth $211,000 after buying an additional 52 shares in the last quarter. Telemus Capital LLC grew its position in shares of Norfolk Southern by 3.5% during the 1st quarter. Telemus Capital LLC now owns 1,618 shares of the railroad operator’s stock worth $302,000 after buying an additional 55 shares in the last quarter. Finally, Contravisory Investment Management Inc. grew its position in shares of Norfolk Southern by 18.4% during the 2nd quarter. Contravisory Investment Management Inc. now owns 360 shares of the railroad operator’s stock worth $72,000 after buying an additional 56 shares in the last quarter. Institutional investors and hedge funds own 72.50% of the company’s stock.

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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Analyst Recommendations for Norfolk Southern (NYSE:NSC)

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