Norfolk Southern (NYSE:NSC) PT Raised to $280.00

by · The Markets Daily

Norfolk Southern (NYSE:NSC – Free Report) had its target price hoisted by Susquehanna from $255.00 to $280.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a neutral rating on the railroad operator’s stock.

A number of other analysts have also recently commented on NSC. Sanford C. Bernstein cut their price target on shares of Norfolk Southern from $288.00 to $285.00 and set an outperform rating on the stock in a research report on Monday, July 8th. Wells Fargo & Company upped their target price on Norfolk Southern from $260.00 to $270.00 and gave the company an overweight rating in a research report on Friday, July 26th. Royal Bank of Canada lifted their target price on Norfolk Southern from $267.00 to $272.00 and gave the stock an outperform rating in a report on Monday, September 30th. Morgan Stanley restated an underweight rating and set a $175.00 price target on shares of Norfolk Southern in a report on Monday, July 8th. Finally, TD Cowen lifted their price objective on shares of Norfolk Southern from $251.00 to $253.00 and gave the company a hold rating in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Norfolk Southern currently has a consensus rating of Moderate Buy and an average price target of $266.56.

View Our Latest Report on NSC

Norfolk Southern Price Performance

Shares of NYSE:NSC opened at $247.92 on Wednesday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.54 and a current ratio of 0.63. Norfolk Southern has a 52 week low of $183.09 and a 52 week high of $263.66. The firm has a market cap of $56.01 billion, a PE ratio of 39.92, a price-to-earnings-growth ratio of 2.40 and a beta of 1.31. The firm’s fifty day moving average is $246.80 and its 200-day moving average is $237.05.

Norfolk Southern (NYSE:NSC – Get Free Report) last announced its earnings results on Thursday, July 25th. The railroad operator reported $3.06 EPS for the quarter, topping the consensus estimate of $2.86 by $0.20. The firm had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.04 billion. Norfolk Southern had a return on equity of 19.64% and a net margin of 14.85%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.95 EPS. Sell-side analysts predict that Norfolk Southern will post 11.8 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Friday, August 2nd were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $5.40 dividend on an annualized basis and a yield of 2.18%. Norfolk Southern’s dividend payout ratio (DPR) is currently 86.96%.

Insiders Place Their Bets

In related news, EVP Nabanita C. Nag sold 355 shares of Norfolk Southern stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $249.38, for a total transaction of $88,529.90. Following the transaction, the executive vice president now owns 1,488 shares of the company’s stock, valued at $371,077.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Nabanita C. Nag sold 355 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $249.38, for a total transaction of $88,529.90. Following the transaction, the executive vice president now directly owns 1,488 shares in the company, valued at approximately $371,077.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Alan H. Shaw sold 51,325 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $255.98, for a total transaction of $13,138,173.50. Following the completion of the sale, the chief executive officer now owns 35,045 shares of the company’s stock, valued at approximately $8,970,819.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NSC. Cedar Wealth Management LLC bought a new stake in Norfolk Southern in the first quarter worth about $27,000. 1620 Investment Advisors Inc. bought a new stake in shares of Norfolk Southern in the 2nd quarter worth approximately $27,000. Financial Connections Group Inc. purchased a new position in Norfolk Southern in the second quarter valued at approximately $31,000. HWG Holdings LP purchased a new stake in Norfolk Southern in the second quarter worth $31,000. Finally, Rise Advisors LLC bought a new stake in shares of Norfolk Southern in the first quarter valued at $34,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

About Norfolk Southern

(Get Free Report)

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.

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