Norfolk Southern (NYSE:NSC) Price Target Lowered to $290.00 at Barclays

Norfolk Southern (NYSE:NSC) had its price objective trimmed by Barclays from $305.00 to $290.00 in a report released on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the railroad operator’s stock.

A number of other brokerages also recently commented on NSC. Susquehanna cut their target price on shares of Norfolk Southern from $265.00 to $260.00 and set a “neutral” rating on the stock in a research note on Thursday, March 27th. Bank of America lowered their price target on Norfolk Southern from $292.00 to $272.00 and set a “buy” rating for the company in a report on Tuesday, March 25th. Benchmark restated a “buy” rating and set a $285.00 price objective on shares of Norfolk Southern in a research note on Thursday, January 30th. Loop Capital lowered Norfolk Southern from a “buy” rating to a “hold” rating and lowered their target price for the company from $289.00 to $256.00 in a research note on Monday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Norfolk Southern in a research report on Friday, March 7th. They set a “buy” rating and a $293.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $272.74.

Norfolk Southern Price Performance

NSC stock opened at $210.78 on Wednesday. The company has a market cap of $47.73 billion, a PE ratio of 18.23, a price-to-earnings-growth ratio of 2.31 and a beta of 1.35. The company has a current ratio of 0.90, a quick ratio of 0.82 and a debt-to-equity ratio of 1.16. The stock has a 50-day moving average price of $242.94 and a two-hundred day moving average price of $248.34. Norfolk Southern has a 12-month low of $206.71 and a 12-month high of $277.60.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.97 by $0.07. Norfolk Southern had a return on equity of 20.04% and a net margin of 21.63%. As a group, research analysts predict that Norfolk Southern will post 13 EPS for the current year.

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Friday, February 7th were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.56%. The ex-dividend date of this dividend was Friday, February 7th. Norfolk Southern’s dividend payout ratio is currently 46.71%.

Insider Activity

In other news, Director Gilbert H. Lamphere bought 607 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was bought at an average price of $259.86 per share, for a total transaction of $157,735.02. Following the transaction, the director now owns 2,487 shares in the company, valued at $646,271.82. The trade was a 32.29 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Norfolk Southern

Hedge funds have recently added to or reduced their stakes in the business. Versant Capital Management Inc boosted its stake in Norfolk Southern by 208.3% in the first quarter. Versant Capital Management Inc now owns 595 shares of the railroad operator’s stock valued at $141,000 after acquiring an additional 402 shares during the period. Fire Capital Management LLC bought a new stake in shares of Norfolk Southern in the 4th quarter worth approximately $352,000. Wellington Management Group LLP boosted its position in Norfolk Southern by 3.6% during the 4th quarter. Wellington Management Group LLP now owns 23,882 shares of the railroad operator’s stock valued at $5,605,000 after purchasing an additional 820 shares during the period. Mascagni Wealth Management Inc. bought a new position in Norfolk Southern during the 4th quarter worth $141,000. Finally, 111 Capital acquired a new stake in Norfolk Southern in the fourth quarter worth $939,000. 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.