Loop Capital Raises Norfolk Southern (NYSE:NSC) Price Target to $270.00

Norfolk Southern (NYSE:NSC) had its price target increased by Loop Capital from $261.00 to $270.00 in a research report report published on Thursday, Benzinga reports. Loop Capital currently has a buy rating on the railroad operator’s stock.

Other research analysts have also issued research reports about the stock. UBS Group raised shares of Norfolk Southern from a neutral rating to a buy rating and raised their price objective for the company from $238.00 to $302.00 in a research note on Monday, March 4th. Sanford C. Bernstein raised shares of Norfolk Southern from a market perform rating to an outperform rating and set a $272.00 price objective for the company in a research note on Monday, January 22nd. The Goldman Sachs Group raised their price objective on shares of Norfolk Southern from $252.00 to $283.00 and gave the company a buy rating in a research note on Thursday, March 21st. Susquehanna lowered their price objective on shares of Norfolk Southern from $270.00 to $265.00 and set a neutral rating for the company in a research note on Wednesday, April 10th. Finally, Citigroup raised their target price on shares of Norfolk Southern from $253.00 to $286.00 and gave the company a buy rating in a report on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $262.74.

Norfolk Southern Trading Up 0.4 %

Shares of NSC stock opened at $241.28 on Thursday. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.24 and a quick ratio of 1.14. The firm has a market cap of $59.41 billion, a PE ratio of 30.08, a price-to-earnings-growth ratio of 3.28 and a beta of 1.30. The company has a 50-day moving average of $252.95 and a two-hundred day moving average of $231.07. Norfolk Southern has a 1-year low of $183.09 and a 1-year high of $263.66.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Friday, January 26th. The railroad operator reported $2.83 earnings per share for the quarter, missing the consensus estimate of $2.87 by ($0.04). The company had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.09 billion. Norfolk Southern had a return on equity of 21.06% and a net margin of 15.03%. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period last year, the business earned $3.42 EPS. On average, analysts predict that Norfolk Southern will post 11.98 EPS for the current year.

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 20th. Stockholders of record on Friday, February 2nd were issued a $1.35 dividend. The ex-dividend date of this dividend was Thursday, February 1st. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.24%. Norfolk Southern’s payout ratio is 67.33%.

Hedge Funds Weigh In On Norfolk Southern

A number of institutional investors have recently modified their holdings of NSC. Axiom Financial Strategies LLC increased its holdings in shares of Norfolk Southern by 9.2% in the 1st quarter. Axiom Financial Strategies LLC now owns 852 shares of the railroad operator’s stock valued at $220,000 after acquiring an additional 72 shares during the period. Fairfield Bush & CO. acquired a new position in shares of Norfolk Southern in the 1st quarter valued at $81,000. United Bank increased its holdings in shares of Norfolk Southern by 2.0% in the 1st quarter. United Bank now owns 7,581 shares of the railroad operator’s stock valued at $2,162,000 after acquiring an additional 148 shares during the period. Cetera Investment Advisers increased its holdings in shares of Norfolk Southern by 4.6% in the 1st quarter. Cetera Investment Advisers now owns 8,640 shares of the railroad operator’s stock valued at $2,464,000 after acquiring an additional 377 shares during the period. Finally, Sequoia Financial Advisors LLC grew its position in Norfolk Southern by 13.3% in the 1st quarter. Sequoia Financial Advisors LLC now owns 1,946 shares of the railroad operator’s stock valued at $555,000 after buying an additional 228 shares during the last quarter. 75.10% of the stock is owned by institutional investors and hedge funds.

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.