Loop Capital Raises Norfolk Southern (NYSE:NSC) Price Target to $270.00

Norfolk Southern (NYSE:NSC) had its target price lifted by Loop Capital from $261.00 to $270.00 in a research note published on Thursday morning, Benzinga reports. Loop Capital currently has a buy rating on the railroad operator’s stock.

A number of other analysts also recently weighed in on NSC. Barclays upgraded shares of Norfolk Southern from an equal weight rating to an overweight rating and boosted their target price for the stock from $255.00 to $305.00 in a report on Wednesday, February 21st. Susquehanna decreased their price objective on Norfolk Southern from $270.00 to $265.00 and set a neutral rating on the stock in a research report on Wednesday, April 10th. Morgan Stanley cut Norfolk Southern from an equal weight rating to an underweight rating and dropped their target price for the stock from $185.00 to $175.00 in a report on Monday, January 29th. JPMorgan Chase & Co. increased their price target on Norfolk Southern from $240.00 to $275.00 and gave the company an overweight rating in a report on Tuesday, April 9th. Finally, Stifel Nicolaus boosted their price objective on shares of Norfolk Southern from $233.00 to $244.00 and gave the company a hold rating in a research report on Friday, April 12th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $262.74.

Norfolk Southern Price Performance

NYSE:NSC opened at $241.28 on Thursday. The company has a market capitalization of $59.41 billion, a P/E ratio of 30.08, a P/E/G ratio of 3.28 and a beta of 1.30. The business’s 50-day moving average is $252.95 and its 200 day moving average is $231.33. The company has a current ratio of 1.24, a quick ratio of 1.14 and a debt-to-equity ratio of 1.34. Norfolk Southern has a 12 month low of $183.09 and a 12 month high of $263.66.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data 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 firm had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.09 billion. During the same period last year, the company earned $3.42 earnings per share. The firm’s revenue was down 4.2% on a year-over-year basis. On average, equities research analysts forecast that Norfolk Southern will post 11.98 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 20th. Shareholders of record on Friday, February 2nd were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Thursday, February 1st. This represents a $5.40 annualized dividend and a yield of 2.24%. Norfolk Southern’s payout ratio is currently 67.33%.

Institutional Investors Weigh In On Norfolk Southern

Hedge funds have recently made changes to their positions in the company. Axiom Financial Strategies LLC lifted its stake in Norfolk Southern by 9.2% in the first quarter. Axiom Financial Strategies LLC now owns 852 shares of the railroad operator’s stock worth $220,000 after acquiring an additional 72 shares during the period. Fairfield Bush & CO. purchased a new stake in shares of Norfolk Southern in the 1st quarter worth approximately $81,000. United Bank boosted its stake in shares of Norfolk Southern by 2.0% during the first quarter. United Bank now owns 7,581 shares of the railroad operator’s stock valued at $2,162,000 after purchasing an additional 148 shares in the last quarter. Cetera Investment Advisers increased its holdings in Norfolk Southern by 4.6% during the first quarter. Cetera Investment Advisers now owns 8,640 shares of the railroad operator’s stock valued at $2,464,000 after buying an additional 377 shares during the period. Finally, Sequoia Financial Advisors LLC raised its stake in Norfolk Southern by 13.3% in the first quarter. Sequoia Financial Advisors LLC now owns 1,946 shares of the railroad operator’s stock worth $555,000 after buying an additional 228 shares in the last quarter. 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.