JPMorgan Chase & Co. Boosts Norfolk Southern (NYSE:NSC) Price Target to $288.00

Norfolk Southern (NYSE:NSC) had its target price raised by JPMorgan Chase & Co. from $283.00 to $288.00 in a report issued on Wednesday morning, Benzinga reports. The brokerage currently has an overweight rating on the railroad operator’s stock.

Several other research firms have also commented on NSC. Wells Fargo & Company upped their price objective on Norfolk Southern from $270.00 to $280.00 and gave the stock an “overweight” rating in a research note on Wednesday. Stifel Nicolaus raised their price objective on Norfolk Southern from $241.00 to $245.00 and gave the stock a “hold” rating in a research note on Friday, October 11th. Barclays lifted their price objective on Norfolk Southern from $275.00 to $290.00 and gave the company an “overweight” rating in a research report on Wednesday. Susquehanna raised their target price on shares of Norfolk Southern from $280.00 to $285.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Jefferies Financial Group upped their price target on shares of Norfolk Southern from $275.00 to $280.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $274.16.

Norfolk Southern Price Performance

Shares of NYSE:NSC opened at $256.98 on Wednesday. The business has a 50-day simple moving average of $248.76 and a two-hundred day simple moving average of $236.88. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.54 and a current ratio of 0.63. The firm has a market cap of $58.06 billion, a price-to-earnings ratio of 41.38, a price-to-earnings-growth ratio of 2.33 and a beta of 1.31. Norfolk Southern has a fifty-two week low of $183.09 and a fifty-two week high of $263.66.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share for the quarter, beating analysts’ consensus estimates of $3.11 by $0.14. Norfolk Southern had a net margin of 14.85% and a return on equity of 19.64%. The company had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter in the prior year, the firm earned $2.65 earnings per share. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, analysts expect that Norfolk Southern will post 11.79 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Friday, November 1st will be given a $1.35 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $5.40 annualized dividend and a yield of 2.10%. Norfolk Southern’s dividend payout ratio is currently 86.96%.

Insider Buying and Selling at Norfolk Southern

In other news, EVP Nabanita C. Nag sold 355 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $249.38, for a total transaction of $88,529.90. Following the transaction, the executive vice president now owns 1,488 shares of the company’s stock, valued at approximately $371,077.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Alan H. Shaw sold 51,325 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $255.98, for a total value of $13,138,173.50. Following the sale, the chief executive officer now directly owns 35,045 shares in the company, valued at approximately $8,970,819.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Nabanita C. Nag sold 355 shares of the company’s stock in a transaction 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 directly owns 1,488 shares in the company, valued at $371,077.44. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

Institutional Trading of Norfolk Southern

Large investors have recently made changes to their positions in the stock. Seven Eight Capital LP purchased a new stake in Norfolk Southern in the 2nd quarter valued at about $1,676,000. Manning & Napier Advisors LLC bought a new stake in shares of Norfolk Southern during the second quarter valued at approximately $13,627,000. Broderick Brian C purchased a new stake in shares of Norfolk Southern in the first quarter valued at approximately $956,000. OFI Invest Asset Management bought a new position in Norfolk Southern in the second quarter worth approximately $846,000. Finally, Hoxton Planning & Management LLC purchased a new position in Norfolk Southern during the 3rd quarter worth $583,000. 75.10% of the stock is owned by hedge funds and other institutional investors.

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.