Norfolk Southern Corporation (NYSE:NSC) Receives Consensus Rating of “Hold” from Analysts

Shares of Norfolk Southern Corporation (NYSE:NSC) have received an average rating of “Hold” from the twenty-one brokerages that are currently covering the firm, Marketbeat reports. Fourteen analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is $350.62.

Several analysts recently commented on the company. BMO Capital Markets lifted their price objective on Norfolk Southern from $310.00 to $355.00 and gave the stock a “market perform” rating in a report on Monday, July 27th. JPMorgan Chase & Co. increased their target price on Norfolk Southern from $316.00 to $338.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Barclays boosted their price target on Norfolk Southern from $360.00 to $400.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. Royal Bank Of Canada reduced their price target on shares of Norfolk Southern from $360.00 to $330.00 and set a “sector perform” rating for the company in a research report on Thursday, September 24th. Finally, Robert W. Baird increased their price objective on shares of Norfolk Southern from $360.00 to $377.00 and gave the stock a “neutral” rating in a research note on Monday, July 27th.

Norfolk Southern Trading Down 1.0%

Shares of NSC stock opened at $309.77 on Friday. Norfolk Southern has a 12-month low of $277.80 and a 12-month high of $358.60. 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 firm’s 50 day moving average is $332.36 and its 200 day moving average is $316.57. The stock has a market capitalization of $69.58 billion, a P/E ratio of 26.43, a P/E/G ratio of 4.65 and a beta of 1.27.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Thursday, July 23rd. The railroad operator reported $3.52 EPS for the quarter, topping analysts’ consensus estimates of $3.32 by $0.20. The business had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.38 billion. Norfolk Southern had a net margin of 21.02% and a return on equity of 18.21%. The firm’s revenue was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.29 EPS. Research analysts expect that Norfolk Southern will post 12.87 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Friday, August 7th were given a $1.35 dividend. The ex-dividend date was Friday, August 7th. This represents a $5.40 annualized dividend and a yield of 1.7%. Norfolk Southern’s dividend payout ratio (DPR) is presently 46.08%.

Institutional Investors Weigh In On Norfolk Southern

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. purchased a new position in Norfolk Southern during the second quarter valued at $5,033,549,000. Geode Capital Management LLC increased its position in Norfolk Southern by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 4,878,029 shares of the railroad operator’s stock worth $1,401,797,000 after buying an additional 36,205 shares in the last quarter. Norges Bank bought a new position in shares of Norfolk Southern in the fourth quarter worth about $1,084,701,000. Bank of America Corp DE purchased a new position in shares of Norfolk Southern during the 2nd quarter valued at about $978,977,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of Norfolk Southern by 2.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,259,558 shares of the railroad operator’s stock valued at $648,429,000 after buying an additional 46,127 shares in the last quarter. Institutional investors own 75.10% of the company’s stock.

About Norfolk Southern

Norfolk Southern Corporation (NYSE: NSC) is a transportation company that operates one of the largest rail networks in the eastern United States. Through its principal subsidiary, Norfolk Southern Railway, the company provides freight rail transportation and related services for industrial, agricultural and consumer markets.

Norfolk Southern’s network serves 22 states and the District of Columbia, connecting major ports, manufacturing centers and distribution hubs across the East Coast and the Midwest.