Norfolk Southern (NYSE:NSC) Price Target Raised to $244.00

Norfolk Southern (NYSE:NSC) had its price target raised by Stifel Nicolaus from $233.00 to $244.00 in a report issued on Friday morning, Benzinga reports. The firm currently has a hold rating on the railroad operator’s stock.

Other research analysts also recently issued reports about the company. JPMorgan Chase & Co. increased their price objective on Norfolk Southern from $240.00 to $275.00 and gave the stock an overweight rating in a report on Tuesday, April 9th. Susquehanna decreased their price objective on Norfolk Southern from $270.00 to $265.00 and set a neutral rating for the company in a report on Wednesday, April 10th. TD Cowen increased their price objective on Norfolk Southern from $236.00 to $253.00 and gave the stock a market perform rating in a report on Thursday, March 21st. The Goldman Sachs Group increased their price objective on Norfolk Southern from $252.00 to $283.00 and gave the stock a buy rating in a report on Thursday, March 21st. Finally, Sanford C. Bernstein upgraded Norfolk Southern from a market perform rating to an outperform rating and set a $272.00 price objective for the company in a report on Monday, January 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $262.33.

Norfolk Southern Stock Down 1.6 %

Shares of Norfolk Southern stock opened at $245.74 on Friday. Norfolk Southern has a 1 year low of $183.09 and a 1 year high of $263.66. The business has a 50-day moving average of $253.97 and a two-hundred day moving average of $229.66. The company has a market capitalization of $60.50 billion, a P/E ratio of 30.64, a price-to-earnings-growth ratio of 3.33 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.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Friday, January 26th. The railroad operator reported $2.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.87 by ($0.04). Norfolk Southern had a return on equity of 21.06% and a net margin of 15.03%. The business had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter last year, the company earned $3.42 earnings per share. The firm’s revenue was down 4.2% compared to the same quarter last year. As a group, equities analysts predict that Norfolk Southern will post 12 EPS for the current year.

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 20th. Shareholders of record on Friday, February 2nd were paid a dividend of $1.35 per share. The ex-dividend date was Thursday, February 1st. This represents a $5.40 dividend on an annualized basis and a yield of 2.20%. Norfolk Southern’s dividend payout ratio (DPR) is presently 67.33%.

Hedge Funds Weigh In On Norfolk Southern

A number of hedge funds have recently added to or reduced their stakes in NSC. VisionPoint Advisory Group LLC bought a new position in shares of Norfolk Southern in the 2nd quarter valued at $25,000. Worth Asset Management LLC bought a new position in shares of Norfolk Southern in the 1st quarter valued at $30,000. Exchange Traded Concepts LLC increased its stake in shares of Norfolk Southern by 662.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 122 shares of the railroad operator’s stock valued at $29,000 after purchasing an additional 106 shares during the last quarter. Rise Advisors LLC bought a new position in shares of Norfolk Southern in the 1st quarter valued at $34,000. Finally, Turtle Creek Wealth Advisors LLC bought a new position in shares of Norfolk Southern in the 4th quarter valued at $32,000. Institutional investors own 75.10% 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 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.