Norfolk Southern (NYSE:NSC) Price Target Raised to $280.00

Norfolk Southern (NYSE:NSC) had its price target upped by Bank of America from $267.00 to $280.00 in a research note published on Friday morning,Benzinga reports. They currently have a buy rating on the railroad operator’s stock.

A number of other research firms have also commented on NSC. Deutsche Bank Aktiengesellschaft assumed coverage on Norfolk Southern in a research note on Friday, March 7th. They issued a “buy” rating and a $293.00 price objective on the stock. Susquehanna cut their price target on Norfolk Southern from $260.00 to $250.00 and set a “neutral” rating on the stock in a research note on Thursday, April 24th. Evercore ISI cut their price target on Norfolk Southern from $284.00 to $269.00 and set an “outperform” rating on the stock in a research note on Thursday, April 24th. Robert W. Baird upped their price target on Norfolk Southern from $260.00 to $270.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Finally, Jefferies Financial Group cut their price target on Norfolk Southern from $285.00 to $260.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $266.50.

Norfolk Southern Price Performance

Norfolk Southern stock opened at $246.19 on Friday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.82 and a current ratio of 0.90. The firm has a market cap of $55.50 billion, a P/E ratio of 21.30, a P/E/G ratio of 2.31 and a beta of 1.30. The business’s fifty day moving average is $226.19 and its two-hundred day moving average is $242.41. Norfolk Southern has a 52 week low of $201.63 and a 52 week high of $277.60.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Wednesday, April 23rd. The railroad operator reported $2.69 EPS for the quarter, missing analysts’ consensus estimates of $2.72 by ($0.03). The business had revenue of $2.99 billion during the quarter, compared to analyst estimates of $3.01 billion. Norfolk Southern had a return on equity of 20.04% and a net margin of 21.63%. Norfolk Southern’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.49 EPS. Equities research analysts forecast that Norfolk Southern will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 20th. Investors of record on Friday, May 2nd will be issued a $1.35 dividend. The ex-dividend date of this dividend is Friday, May 2nd. This represents a $5.40 dividend on an annualized basis and a yield of 2.19%. Norfolk Southern’s dividend payout ratio is presently 36.89%.

Institutional Investors Weigh In On Norfolk Southern

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NSC. Empowered Funds LLC increased its holdings in shares of Norfolk Southern by 9.3% in the first quarter. Empowered Funds LLC now owns 18,189 shares of the railroad operator’s stock worth $4,308,000 after acquiring an additional 1,555 shares in the last quarter. MBB Public Markets I LLC bought a new stake in shares of Norfolk Southern in the first quarter worth about $320,000. Ascent Group LLC increased its holdings in shares of Norfolk Southern by 32.0% in the first quarter. Ascent Group LLC now owns 5,213 shares of the railroad operator’s stock worth $1,235,000 after acquiring an additional 1,263 shares in the last quarter. United Services Automobile Association bought a new stake in shares of Norfolk Southern in the first quarter worth about $1,210,000. Finally, Signature Estate & Investment Advisors LLC increased its holdings in shares of Norfolk Southern by 11.6% in the first quarter. Signature Estate & Investment Advisors LLC now owns 1,977 shares of the railroad operator’s stock worth $468,000 after acquiring an additional 205 shares in the last quarter. Institutional investors 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.