Norfolk Southern (NYSE:NSC) Price Target Raised to $313.00
by Renee Jackson · The Cerbat GemNorfolk Southern (NYSE:NSC – Free Report) had its price objective hoisted by Citigroup from $300.00 to $313.00 in a report released on Tuesday morning,MarketScreener reports. The firm currently has a neutral rating on the railroad operator’s stock.
A number of other research firms also recently commented on NSC. Wolfe Research upped their price objective on Norfolk Southern from $361.00 to $368.00 and gave the stock an “outperform” rating in a report on Thursday, January 8th. Robert W. Baird upped their price objective on Norfolk Southern from $288.00 to $315.00 and gave the stock a “neutral” rating in a report on Friday, March 6th. Susquehanna upped their price target on shares of Norfolk Southern from $304.00 to $305.00 and gave the stock a “neutral” rating in a research report on Friday, January 30th. Wall Street Zen raised shares of Norfolk Southern to a “sell” rating in a research report on Saturday, April 4th. Finally, Barclays decreased their price target on shares of Norfolk Southern from $340.00 to $320.00 and set an “overweight” rating for the company in a research report on Friday, January 30th. Seven research analysts have rated the stock with a Buy rating and seventeen have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $305.53.
Read Our Latest Stock Report on Norfolk Southern
Norfolk Southern Trading Up 0.4%
NSC stock opened at $295.36 on Tuesday. The company has a market cap of $72.31 billion, a price-to-earnings ratio of 23.17, a PEG ratio of 5.39 and a beta of 1.31. The company has a quick ratio of 0.78, a current ratio of 0.85 and a debt-to-equity ratio of 1.06. The business has a fifty day simple moving average of $300.17 and a 200-day simple moving average of $293.20. Norfolk Southern has a 52 week low of $210.87 and a 52 week high of $319.94.
Norfolk Southern (NYSE:NSC – Get Free Report) last released its quarterly earnings data on Thursday, January 29th. The railroad operator reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $2.76 by $0.46. The business had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.03 billion. Norfolk Southern had a return on equity of 18.78% and a net margin of 23.59%.The business’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period in the prior year, the firm posted $3.04 EPS. On average, equities research analysts expect that Norfolk Southern will post 13 EPS for the current year.
Norfolk Southern Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Friday, February 6th were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Friday, February 6th. Norfolk Southern’s dividend payout ratio is 42.35%.
Institutional Trading of Norfolk Southern
A number of institutional investors have recently added to or reduced their stakes in NSC. Tritonpoint Wealth LLC boosted its position in Norfolk Southern by 3.5% in the 3rd quarter. Tritonpoint Wealth LLC now owns 1,041 shares of the railroad operator’s stock valued at $313,000 after buying an additional 35 shares during the last quarter. Massachusetts Wealth Management boosted its position in Norfolk Southern by 0.6% in the 3rd quarter. Massachusetts Wealth Management now owns 5,986 shares of the railroad operator’s stock valued at $1,798,000 after buying an additional 35 shares during the last quarter. Gilbert & Cook Inc. boosted its position in Norfolk Southern by 1.4% in the 4th quarter. Gilbert & Cook Inc. now owns 2,515 shares of the railroad operator’s stock valued at $726,000 after buying an additional 35 shares during the last quarter. Moss Adams Wealth Advisors LLC boosted its position in Norfolk Southern by 4.6% in the 4th quarter. Moss Adams Wealth Advisors LLC now owns 791 shares of the railroad operator’s stock valued at $228,000 after buying an additional 35 shares during the last quarter. Finally, Confluence Wealth Services Inc. boosted its position in Norfolk Southern by 1.1% in the 4th quarter. Confluence Wealth Services Inc. now owns 3,090 shares of the railroad operator’s stock valued at $892,000 after buying an additional 35 shares during the last quarter. 75.10% of the stock is owned by hedge funds and other institutional investors.
About Norfolk Southern
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.