Brokerages Set Norfolk Southern Corporation (NYSE:NSC) Price Target at $322.71

Shares of Norfolk Southern Corporation (NYSE:NSC) have been given a consensus recommendation of “Hold” by the twenty-two ratings firms that are covering the firm, Marketbeat.com reports. Sixteen analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $320.3529.

A number of brokerages have issued reports on NSC. Sanford C. Bernstein cut their target price on Norfolk Southern from $322.00 to $313.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 31st. Wall Street Zen raised Norfolk Southern from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. BMO Capital Markets boosted their target price on Norfolk Southern from $305.00 to $310.00 and gave the company a “market perform” rating in a research report on Monday, April 27th. Rothschild & Co Redburn boosted their target price on Norfolk Southern from $308.00 to $315.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. Finally, Royal Bank Of Canada cut their target price on Norfolk Southern from $360.00 to $320.00 and set a “sector perform” rating on the stock in a research report on Wednesday.

Institutional Trading of Norfolk Southern

Large investors have recently modified their holdings of the stock. JPL Wealth Management LLC purchased a new stake in shares of Norfolk Southern during the third quarter worth $25,000. BNP Paribas purchased a new stake in shares of Norfolk Southern during the second quarter worth $26,000. GoalVest Advisory LLC increased its position in shares of Norfolk Southern by 933.3% during the fourth quarter. GoalVest Advisory LLC now owns 93 shares of the railroad operator’s stock worth $27,000 after acquiring an additional 84 shares during the period. Meeder Asset Management Inc. increased its position in shares of Norfolk Southern by 239.3% during the fourth quarter. Meeder Asset Management Inc. now owns 95 shares of the railroad operator’s stock worth $27,000 after acquiring an additional 67 shares during the period. Finally, FNY Investment Advisers LLC increased its position in shares of Norfolk Southern by 669.2% during the third quarter. FNY Investment Advisers LLC now owns 100 shares of the railroad operator’s stock worth $30,000 after acquiring an additional 87 shares during the period. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Up 0.2%

NSC stock opened at $303.94 on Thursday. The firm has a market cap of $68.26 billion, a PE ratio of 25.61, a PEG ratio of 5.60 and a beta of 1.27. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.91. Norfolk Southern has a one year low of $252.54 and a one year high of $326.00. The firm’s 50 day moving average price is $310.25 and its 200-day moving average price is $300.89.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Friday, April 24th. The railroad operator reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.49 by $0.16. The company had revenue of $3 billion for the quarter, compared to analyst estimates of $3.13 billion. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.The firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.69 earnings per share. On average, equities research analysts anticipate that Norfolk Southern will post 12.12 EPS for the current year.

Norfolk Southern Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were given a $1.35 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $5.40 dividend on an annualized basis and a yield of 1.8%. Norfolk Southern’s payout ratio is presently 45.49%.

Norfolk Southern Company Profile

Norfolk Southern Corporation is a major U.S. freight railroad company that provides rail transportation and related logistics services. As a Class I carrier, the company operates an extensive network across the eastern United States and offers scheduled freight service for a broad range of industries. Its core operations include long-haul and regional rail freight transportation, intermodal services that move containers and trailers between rail and other modes, and terminal and switching services that support efficient rail shipments for industrial and port customers.

The company transports a variety of commodities, serving sectors such as coal and energy, automotive and automotive parts, chemicals, agriculture, metals and construction materials, and consumer goods.