Citigroup Issues Positive Forecast for Norfolk Southern (NYSE:NSC) Stock Price

Norfolk Southern (NYSE:NSC) had its price target upped by Citigroup from $302.00 to $316.00 in a report released on Tuesday,Benzinga reports. They currently have a buy rating on the railroad operator’s stock.

NSC has been the topic of a number of other reports. Bank of America raised their target price on shares of Norfolk Southern from $276.00 to $291.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Benchmark lifted their price target on Norfolk Southern from $270.00 to $285.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Barclays upped their price objective on shares of Norfolk Southern from $275.00 to $290.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Susquehanna increased their price target on shares of Norfolk Southern from $280.00 to $285.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Finally, UBS Group lifted their target price on Norfolk Southern from $289.00 to $309.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $274.89.

Norfolk Southern Stock Performance

NYSE NSC opened at $267.45 on Tuesday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.73 and a quick ratio of 0.65. Norfolk Southern has a 1-year low of $195.76 and a 1-year high of $277.60. The company has a market cap of $60.51 billion, a PE ratio of 25.11, a price-to-earnings-growth ratio of 2.57 and a beta of 1.30. The stock’s 50 day simple moving average is $252.07 and its 200-day simple moving average is $238.05.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.11 by $0.14. The company had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.08 billion. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.65 EPS. As a group, equities research analysts anticipate that Norfolk Southern will post 11.81 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Friday, November 1st will be issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend is Friday, November 1st. Norfolk Southern’s dividend payout ratio (DPR) is 50.70%.

Insider Buying and Selling at Norfolk Southern

In other Norfolk Southern news, Director Sameh Fahmy bought 1,000 shares of the firm’s stock in a transaction dated Thursday, October 24th. The stock was acquired at an average price of $255.00 per share, for a total transaction of $255,000.00. Following the completion of the purchase, the director now owns 10,000 shares of the company’s stock, valued at approximately $2,550,000. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Sameh Fahmy purchased 1,000 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The stock was purchased at an average cost of $255.00 per share, with a total value of $255,000.00. Following the completion of the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $2,550,000. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Alan H. Shaw sold 51,325 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $255.98, for a total transaction of $13,138,173.50. Following the completion of the sale, the chief executive officer now owns 35,045 shares of the company’s stock, valued at approximately $8,970,819.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale 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 institutional investors and hedge funds have recently made changes to their positions in the stock. Avantax Advisory Services Inc. lifted its position in shares of Norfolk Southern by 5.0% during the 1st quarter. Avantax Advisory Services Inc. now owns 7,721 shares of the railroad operator’s stock valued at $1,968,000 after acquiring an additional 366 shares during the period. Bleakley Financial Group LLC boosted its holdings in shares of Norfolk Southern by 9.3% during the first quarter. Bleakley Financial Group LLC now owns 4,104 shares of the railroad operator’s stock worth $1,046,000 after purchasing an additional 348 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in Norfolk Southern by 41.8% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 26,913 shares of the railroad operator’s stock valued at $6,859,000 after purchasing an additional 7,938 shares during the period. State Board of Administration of Florida Retirement System increased its holdings in shares of Norfolk Southern by 9.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 258,803 shares of the railroad operator’s stock worth $65,961,000 after buying an additional 23,035 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Norfolk Southern by 19.3% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 270,826 shares of the railroad operator’s stock worth $69,025,000 after purchasing an additional 43,871 shares during the period. 75.10% of the stock is owned by institutional investors and hedge funds.

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.