Norfolk Southern (NYSE:NSC) PT Raised to $282.00

Norfolk Southern (NYSE:NSC) had its price target raised by Royal Bank of Canada from $272.00 to $282.00 in a research report sent to investors on Wednesday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the railroad operator’s stock.

A number of other equities research analysts have also issued reports on the company. Benchmark increased their price target on Norfolk Southern from $270.00 to $285.00 and gave the company a “buy” rating in a research report on Wednesday. Barclays raised their target price on Norfolk Southern from $275.00 to $290.00 and gave the stock an “overweight” rating in a research report on Wednesday. Stephens reissued an “equal weight” rating and set a $263.00 target price on shares of Norfolk Southern in a research report on Wednesday. Loop Capital raised their target price on Norfolk Southern from $285.00 to $287.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Bank of America raised their target price on Norfolk Southern from $276.00 to $291.00 and gave the stock a “buy” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $274.16.

Norfolk Southern Price Performance

NSC stock opened at $251.09 on Wednesday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.73 and a quick ratio of 0.54. The firm has a market capitalization of $56.72 billion, a P/E ratio of 40.43, a P/E/G ratio of 2.48 and a beta of 1.31. The business’s 50-day moving average is $249.22 and its two-hundred day moving average is $236.88. Norfolk Southern has a 1 year low of $183.76 and a 1 year high of $263.66.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.11 by $0.14. The company had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.08 billion. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. Norfolk Southern’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.65 EPS. Analysts anticipate that Norfolk Southern will post 11.78 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Friday, November 1st will be paid a $1.35 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $5.40 annualized dividend and a dividend yield of 2.15%. Norfolk Southern’s dividend payout ratio (DPR) is currently 86.96%.

Insider Buying and Selling at Norfolk Southern

In related news, Director Sameh Fahmy bought 700 shares of the stock in a transaction on Thursday, August 1st. The shares were bought at an average cost of $245.15 per share, for a total transaction of $171,605.00. Following the purchase, the director now owns 7,700 shares of the company’s stock, valued at $1,887,655. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Sameh Fahmy bought 700 shares of the stock in a transaction on Thursday, August 1st. The shares were bought at an average cost of $245.15 per share, for a total transaction of $171,605.00. Following the purchase, the director now owns 7,700 shares of the company’s stock, valued at $1,887,655. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Nabanita C. Nag sold 355 shares of Norfolk Southern stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $249.38, for a total value of $88,529.90. Following the completion of the transaction, the executive vice president now owns 1,488 shares in the company, valued at $371,077.44. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 3,700 shares of company stock worth $921,565. 0.19% of the stock is currently owned by insiders.

Institutional Trading of Norfolk Southern

A number of institutional investors have recently modified their holdings of NSC. Highline Wealth Partners LLC purchased a new stake in shares of Norfolk Southern in the third quarter valued at approximately $25,000. Cedar Wealth Management LLC purchased a new stake in shares of Norfolk Southern in the first quarter valued at approximately $27,000. 1620 Investment Advisors Inc. purchased a new stake in shares of Norfolk Southern in the second quarter valued at approximately $27,000. Financial Connections Group Inc. purchased a new stake in shares of Norfolk Southern in the second quarter valued at approximately $31,000. Finally, HWG Holdings LP purchased a new stake in shares of Norfolk Southern in the second quarter valued at approximately $31,000. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

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.