Norfolk Southern (NYSE:NSC) Price Target Increased to $253.00 by Analysts at TD Cowen

Norfolk Southern (NYSE:NSC) had its price objective lifted by TD Cowen from $251.00 to $253.00 in a research report report published on Friday, Marketbeat.com reports. TD Cowen currently has a hold rating on the railroad operator’s stock.

A number of other analysts have also weighed in on the company. Jefferies Financial Group initiated coverage on Norfolk Southern in a research note on Monday, April 8th. They issued a buy rating and a $300.00 target price for the company. Stifel Nicolaus dropped their target price on shares of Norfolk Southern from $241.00 to $239.00 and set a hold rating for the company in a research note on Wednesday, July 17th. Loop Capital upped their price objective on Norfolk Southern from $261.00 to $270.00 and gave the stock a buy rating in a report on Thursday, April 18th. Wells Fargo & Company lowered their target price on Norfolk Southern from $270.00 to $260.00 and set an overweight rating for the company in a research note on Tuesday, June 25th. Finally, Barclays decreased their price target on Norfolk Southern from $305.00 to $275.00 and set an overweight rating on the stock in a report on Monday, May 13th. One analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $264.65.

Norfolk Southern Price Performance

NYSE:NSC opened at $247.15 on Friday. The company has a quick ratio of 0.61, a current ratio of 0.68 and a debt-to-equity ratio of 1.37. The firm has a market cap of $55.83 billion, a PE ratio of 39.80, a price-to-earnings-growth ratio of 2.20 and a beta of 1.32. Norfolk Southern has a 12 month low of $183.09 and a 12 month high of $263.66. The company’s 50-day moving average price is $222.63 and its two-hundred day moving average price is $237.48.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Thursday, July 25th. The railroad operator reported $3.06 EPS for the quarter, topping the consensus estimate of $2.86 by $0.20. Norfolk Southern had a return on equity of 19.77% and a net margin of 14.85%. The business had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.04 billion. During the same period in the previous year, the business earned $2.95 EPS. Norfolk Southern’s revenue was up 2.1% compared to the same quarter last year. On average, equities analysts anticipate that Norfolk Southern will post 11.62 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Friday, August 2nd will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date is Friday, August 2nd. Norfolk Southern’s dividend payout ratio is currently 86.96%.

Insider Activity

In related news, Director Claude Mongeau bought 5,650 shares of the company’s stock in a transaction on Wednesday, May 29th. The shares were purchased at an average cost of $221.00 per share, for a total transaction of $1,248,650.00. Following the acquisition, the director now owns 20,000 shares of the company’s stock, valued at approximately $4,420,000. The purchase was disclosed in a filing with the SEC, which is available at this link. In other news, Director Claude Mongeau bought 5,650 shares of the stock in a transaction on Wednesday, May 29th. The stock was purchased at an average price of $221.00 per share, for a total transaction of $1,248,650.00. Following the acquisition, the director now owns 20,000 shares in the company, valued at $4,420,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Sameh Fahmy purchased 2,000 shares of the company’s stock in a transaction on Friday, June 14th. The stock was purchased at an average cost of $219.25 per share, for a total transaction of $438,500.00. Following the purchase, the director now directly owns 7,000 shares in the company, valued at $1,534,750. The disclosure for this purchase can be found here. 0.19% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Norfolk Southern

A number of large investors have recently bought and sold shares of the company. Pacer Advisors Inc. increased its stake in Norfolk Southern by 4.3% in the 4th quarter. Pacer Advisors Inc. now owns 15,777 shares of the railroad operator’s stock valued at $3,729,000 after buying an additional 654 shares during the last quarter. Kingswood Wealth Advisors LLC increased its position in shares of Norfolk Southern by 21.6% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 1,387 shares of the railroad operator’s stock valued at $328,000 after acquiring an additional 246 shares during the last quarter. Schechter Investment Advisors LLC bought a new stake in Norfolk Southern during the fourth quarter worth about $267,000. Procyon Advisors LLC boosted its position in Norfolk Southern by 12.1% during the fourth quarter. Procyon Advisors LLC now owns 2,435 shares of the railroad operator’s stock valued at $576,000 after purchasing an additional 262 shares during the last quarter. Finally, SeaCrest Wealth Management LLC grew its stake in Norfolk Southern by 2.6% in the fourth quarter. SeaCrest Wealth Management LLC now owns 2,449 shares of the railroad operator’s stock valued at $561,000 after purchasing an additional 62 shares in the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

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.