Norfolk Southern (NYSE:NSC) Price Target Raised to $377.00

Norfolk Southern (NYSE:NSC) had its price objective raised by Robert W. Baird from $360.00 to $377.00 in a research report report published on Monday, MarketBeat Ratings reports. The brokerage currently has a neutral rating on the railroad operator’s stock.

Several other brokerages also recently commented on NSC. UBS Group restated a “neutral” rating and issued a $363.00 price target on shares of Norfolk Southern in a research report on Friday, July 24th. BMO Capital Markets lifted their price objective on shares of Norfolk Southern from $305.00 to $310.00 and gave the stock a “market perform” rating in a research report on Monday, April 27th. Susquehanna boosted their target price on shares of Norfolk Southern from $337.00 to $360.00 and gave the company a “neutral” rating in a research note on Tuesday, July 14th. Wells Fargo & Company increased their target price on Norfolk Southern from $365.00 to $385.00 and gave the company an “overweight” rating in a report on Friday, July 24th. Finally, Stephens raised Norfolk Southern to a “hold” rating in a research report on Wednesday, July 8th. Seven investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $348.00.

Norfolk Southern Trading Down 0.7%

Shares of NSC opened at $336.55 on Monday. The business’s 50-day moving average price is $318.76 and its 200 day moving average price is $307.37. The company has a current ratio of 0.83, a quick ratio of 0.73 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $75.59 billion, a P/E ratio of 28.72, a P/E/G ratio of 6.03 and a beta of 1.27. Norfolk Southern has a 1-year low of $268.23 and a 1-year high of $358.60.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Thursday, July 23rd. The railroad operator reported $3.52 EPS for the quarter, beating analysts’ consensus estimates of $3.32 by $0.20. Norfolk Southern had a net margin of 21.02% and a return on equity of 18.21%. The company had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.38 billion. During the same period in the prior year, the firm earned $3.29 earnings per share. The business’s quarterly revenue was up 12.5% on a year-over-year basis. Analysts expect that Norfolk Southern will post 12.6 earnings per share for the current year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Friday, August 7th will be issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Friday, August 7th. Norfolk Southern’s dividend payout ratio (DPR) is currently 46.08%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in NSC. JPL Wealth Management LLC acquired a new position in shares of Norfolk Southern in the third quarter worth $25,000. BNP Paribas acquired a new stake in Norfolk Southern during the second quarter valued at $26,000. Meeder Asset Management Inc. grew its stake in Norfolk Southern by 239.3% in the fourth quarter. Meeder Asset Management Inc. now owns 95 shares of the railroad operator’s stock valued at $27,000 after purchasing an additional 67 shares in the last quarter. Financial Life Planners purchased a new position in Norfolk Southern in the first quarter valued at about $33,000. Finally, Bayban acquired a new position in Norfolk Southern in the 4th quarter worth about $34,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

About Norfolk Southern

Norfolk Southern Corporation is a major U.S. freight railroad company that provides rail transportation and related logistics services. As a Class I carrier, the company operates an extensive network across the eastern United States and offers scheduled freight service for a broad range of industries. Its core operations include long-haul and regional rail freight transportation, intermodal services that move containers and trailers between rail and other modes, and terminal and switching services that support efficient rail shipments for industrial and port customers.

The company transports a variety of commodities, serving sectors such as coal and energy, automotive and automotive parts, chemicals, agriculture, metals and construction materials, and consumer goods.