Norfolk Southern (NYSE:NSC) Downgraded to “Hold” at Cascend Securities

Cascend Securities lowered shares of Norfolk Southern (NYSE:NSC) from a buy rating to a hold rating in a research report sent to investors on Wednesday, Briefing.com Automated Import reports.

Several other research analysts also recently commented on the company. Citigroup set a $20.00 target price on Compania de Minas Buenaventura SAA and gave the stock a buy rating in a research note on Thursday, April 4th. Argus lifted their target price on Norfolk Southern from $210.00 to $220.00 and gave the stock a buy rating in a research note on Tuesday, May 7th. Barclays lifted their target price 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. Loop Capital lifted their target price on Norfolk Southern to $237.00 and gave the stock a buy 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 note on Wednesday, June 12th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the stock. Norfolk Southern currently has an average rating of Hold and an average target price of $204.47.

Shares of NYSE NSC opened at $195.19 on Wednesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.67 and a quick ratio of 0.59. Norfolk Southern has a 12 month low of $138.65 and a 12 month high of $211.46. The business’s 50 day simple moving average is $198.69. The company has a market cap of $52.09 billion, a P/E ratio of 20.52, a P/E/G ratio of 1.55 and a beta of 1.32.



Norfolk Southern (NYSE:NSC) last issued its earnings results on Wednesday, April 24th. The railroad operator reported $2.51 EPS for the quarter, topping the Thomson Reuters’ 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 company had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.82 billion. During the same period in the previous year, the company posted $1.93 EPS. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, equities analysts predict that Norfolk Southern will post 10.79 EPS for the current fiscal year.

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

A number of hedge funds and other institutional investors have recently made changes to their positions in NSC. Norges Bank acquired a new position in Norfolk Southern in the 4th quarter valued at $400,313,000. FMR LLC raised its holdings in Norfolk Southern by 27.4% in the 1st quarter. FMR LLC now owns 9,875,360 shares of the railroad operator’s stock valued at $1,845,606,000 after acquiring an additional 2,123,713 shares in the last quarter. Lazard Asset Management LLC raised its holdings in Norfolk Southern by 27.7% in the 1st quarter. Lazard Asset Management LLC now owns 7,333,967 shares of the railroad operator’s stock valued at $1,370,644,000 after acquiring an additional 1,592,303 shares in the last quarter. Ronna Sue Cohen raised its holdings in Norfolk Southern by 18,679.2% in the 1st quarter. Ronna Sue Cohen now owns 491,076 shares of the railroad operator’s stock valued at $491,000 after acquiring an additional 488,461 shares in the last quarter. Finally, Deutsche Bank AG raised its holdings in Norfolk Southern by 42.1% in the 4th quarter. Deutsche Bank AG now owns 1,577,738 shares of the railroad operator’s stock valued at $235,929,000 after acquiring an additional 467,131 shares in the last quarter. 72.56% of the stock is 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. 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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