Jefferies Financial Group Initiates Coverage on Norfolk Southern (NYSE:NSC)

Stock analysts at Jefferies Financial Group started coverage on shares of Norfolk Southern (NYSE:NSC) in a report released on Monday, MarketBeat reports. The brokerage set a “buy” rating and a $300.00 price target on the railroad operator’s stock. Jefferies Financial Group’s price target suggests a potential upside of 18.39% from the company’s current price.

Other analysts have also recently issued reports about the stock. JPMorgan Chase & Co. decreased their price objective on shares of Norfolk Southern from $238.00 to $237.00 and set an “overweight” rating for the company in a research note on Tuesday, January 9th. The Goldman Sachs Group increased their price target on Norfolk Southern from $252.00 to $283.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. TheStreet raised Norfolk Southern from a “c+” rating to a “b-” rating in a report on Thursday, December 21st. Royal Bank of Canada reduced their price target on Norfolk Southern from $215.00 to $207.00 and set a “sector perform” rating for the company in a research report on Monday, January 29th. Finally, Morgan Stanley lowered Norfolk Southern from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $185.00 to $175.00 in a research report on Monday, January 29th. One analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $257.41.

Norfolk Southern Price Performance

Shares of NSC opened at $253.39 on Monday. The firm has a market capitalization of $62.39 billion, a PE ratio of 31.59, a price-to-earnings-growth ratio of 3.35 and a beta of 1.30. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.24 and a quick ratio of 1.14. The company’s fifty day moving average price is $253.90 and its 200-day moving average price is $228.62. Norfolk Southern has a 1-year low of $183.09 and a 1-year high of $263.66.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Friday, January 26th. The railroad operator reported $2.83 earnings per share for the quarter, missing analysts’ consensus estimates of $2.87 by ($0.04). Norfolk Southern had a net margin of 15.03% and a return on equity of 21.06%. The firm had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.09 billion. During the same period in the prior year, the company posted $3.42 earnings per share. The firm’s revenue for the quarter was down 4.2% on a year-over-year basis. On average, equities research analysts predict that Norfolk Southern will post 12.14 EPS for the current year.

Institutional Trading of Norfolk Southern

Large investors have recently made changes to their positions in the company. VisionPoint Advisory Group LLC acquired a new stake in Norfolk Southern in the 2nd quarter valued at about $25,000. Provence Wealth Management Group acquired a new stake in shares of Norfolk Southern in the third quarter valued at approximately $28,000. Exchange Traded Concepts LLC lifted its position in Norfolk Southern by 662.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 122 shares of the railroad operator’s stock worth $29,000 after buying an additional 106 shares in the last quarter. Worth Asset Management LLC acquired a new position in Norfolk Southern during the first quarter worth $30,000. Finally, Operose Advisors LLC purchased a new stake in Norfolk Southern in the 3rd quarter valued at $32,000. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Norfolk Southern Company Profile

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.