Norfolk Southern (NYSE:NSC) Stock Price Down 5.5% – What’s Next?

Shares of Norfolk Southern Corporation (NYSE:NSC) were down 5.5% during mid-day trading on Thursday . The company traded as low as $304.66 and last traded at $307.8420. Approximately 653,912 shares changed hands during trading, a decline of 48% from the average daily volume of 1,250,536 shares. The stock had previously closed at $325.68.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on NSC shares. Citigroup reiterated a “neutral” rating on shares of Norfolk Southern in a research report on Friday, April 24th. Wall Street Zen upgraded Norfolk Southern from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Susquehanna lifted their price objective on Norfolk Southern from $305.00 to $330.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 22nd. UBS Group set a $327.00 price objective on Norfolk Southern in a research report on Thursday, May 7th. Finally, BMO Capital Markets lifted their price objective on Norfolk Southern from $305.00 to $310.00 and gave the stock a “market perform” rating in a research report on Monday, April 27th. Six research analysts have rated the stock with a Buy rating and seventeen have assigned a Hold rating to the stock. According to data from MarketBeat.com, Norfolk Southern has an average rating of “Hold” and an average price target of $319.83.

Norfolk Southern Price Performance

The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.91. The stock has a market capitalization of $69.49 billion, a price-to-earnings ratio of 26.16, a P/E/G ratio of 5.92 and a beta of 1.30. The company has a 50-day moving average of $302.40 and a 200-day moving average of $298.09.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Friday, April 24th. The railroad operator reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.49 by $0.16. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.The firm had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same period in the previous year, the firm posted $2.69 EPS. The company’s quarterly revenue was up .2% compared to the same quarter last year. As a group, equities research analysts expect that Norfolk Southern Corporation will post 12.11 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were issued a $1.35 dividend. The ex-dividend date was Friday, May 8th. This represents a $5.40 annualized dividend and a yield of 1.7%. Norfolk Southern’s payout ratio is 45.49%.

Institutional Investors Weigh In On Norfolk Southern

A number of hedge funds and other institutional investors have recently made changes to their positions in NSC. JPL Wealth Management LLC acquired a new stake in Norfolk Southern in the 3rd quarter worth about $25,000. Westside Investment Management Inc. boosted its stake in Norfolk Southern by 207.1% in the 3rd quarter. Westside Investment Management Inc. now owns 86 shares of the railroad operator’s stock worth $26,000 after buying an additional 58 shares during the last quarter. BNP Paribas acquired a new stake in Norfolk Southern in the 2nd quarter worth about $26,000. GoalVest Advisory LLC boosted its stake in Norfolk Southern by 933.3% in the 4th quarter. GoalVest Advisory LLC now owns 93 shares of the railroad operator’s stock worth $27,000 after buying an additional 84 shares during the last quarter. Finally, Meeder Asset Management Inc. boosted its stake in Norfolk Southern by 239.3% in the 4th quarter. Meeder Asset Management Inc. now owns 95 shares of the railroad operator’s stock worth $27,000 after buying an additional 67 shares during the last quarter. Hedge funds and other institutional investors own 75.10% of the company’s stock.

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.