Norfolk Southern (NYSE:NSC) Price Target Raised to $255.00 at Susquehanna

Norfolk Southern (NYSE:NSC) had its target price hoisted by Susquehanna from $245.00 to $255.00 in a research note issued to investors on Friday morning, Benzinga reports. Susquehanna currently has a neutral rating on the railroad operator’s stock.

Other equities analysts also recently issued research reports about the company. TD Cowen raised their target price on Norfolk Southern from $251.00 to $253.00 and gave the stock a hold rating in a research report on Friday. Wells Fargo & Company lowered their target price on Norfolk Southern from $270.00 to $260.00 and set an overweight rating for the company in a research note on Tuesday, June 25th. Sanford C. Bernstein lowered their target price on Norfolk Southern from $288.00 to $285.00 and set an outperform rating for the company in a research note on Monday, July 8th. Loop Capital lifted their price objective on Norfolk Southern from $261.00 to $270.00 and gave the stock a buy rating in a research note on Thursday, April 18th. Finally, JPMorgan Chase & Co. lifted their price objective on Norfolk Southern from $240.00 to $275.00 and gave the stock an overweight rating in a research note on Tuesday, April 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $264.24.

Norfolk Southern Stock Performance

NSC opened at $247.63 on Friday. The stock’s 50 day moving average price is $222.97 and its two-hundred day moving average price is $237.76. The company has a quick ratio of 0.54, a current ratio of 0.63 and a debt-to-equity ratio of 1.30. Norfolk Southern has a 12-month low of $183.09 and a 12-month high of $263.66. The firm has a market capitalization of $55.94 billion, a P/E ratio of 39.88, a price-to-earnings-growth ratio of 2.44 and a beta of 1.32.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Thursday, July 25th. The railroad operator reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $2.86 by $0.20. Norfolk Southern had a return on equity of 19.64% and a net margin of 14.85%. The company had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.04 billion. During the same quarter last year, the company earned $2.95 EPS. The company’s quarterly revenue was up 2.1% on a year-over-year basis. On average, equities analysts forecast that Norfolk Southern will post 11.6 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Friday, August 2nd will be given a $1.35 dividend. The ex-dividend date is Friday, August 2nd. This represents a $5.40 annualized dividend and a yield of 2.18%. Norfolk Southern’s payout ratio is 86.96%.

Insider Activity at Norfolk Southern

In other Norfolk Southern news, CMO Claude E. Elkins sold 8,329 shares of Norfolk Southern stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $228.43, for a total transaction of $1,902,593.47. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Sameh Fahmy purchased 2,000 shares of the stock in a transaction that occurred on Friday, June 14th. The shares were bought at an average price of $219.25 per share, with a total value of $438,500.00. Following the acquisition, the director now owns 7,000 shares of the company’s stock, valued at approximately $1,534,750. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CMO Claude E. Elkins sold 8,329 shares of Norfolk Southern stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $228.43, for a total transaction of $1,902,593.47. The disclosure for this sale can be found here. 0.19% of the stock is owned by insiders.

Institutional Investors Weigh In On Norfolk Southern

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Norfolk Southern by 5.9% in the 1st quarter. Vanguard Group Inc. now owns 19,623,690 shares of the railroad operator’s stock worth $5,001,490,000 after purchasing an additional 1,088,072 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Norfolk Southern by 2.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,986,180 shares of the railroad operator’s stock worth $1,525,699,000 after purchasing an additional 124,362 shares during the period. EdgePoint Investment Group Inc. raised its holdings in shares of Norfolk Southern by 10.2% in the 1st quarter. EdgePoint Investment Group Inc. now owns 3,752,050 shares of the railroad operator’s stock worth $956,285,000 after purchasing an additional 347,852 shares during the period. Boston Partners raised its holdings in shares of Norfolk Southern by 157.1% in the 1st quarter. Boston Partners now owns 2,890,665 shares of the railroad operator’s stock worth $735,749,000 after purchasing an additional 1,766,135 shares during the period. Finally, Norges Bank bought a new stake in shares of Norfolk Southern in the 4th quarter worth approximately $556,797,000. Institutional investors own 75.10% of the company’s stock.

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.