Susquehanna Cuts Norfolk Southern (NYSE:NSC) Price Target to $350.00

Norfolk Southern (NYSE:NSC) had its price target decreased by Susquehanna from $386.00 to $350.00 in a research report report published on Friday, Marketbeat reports. Susquehanna currently has a neutral rating on the railroad operator’s stock.

NSC has been the subject of a number of other research reports. Barclays raised their price target on Norfolk Southern from $360.00 to $400.00 and gave the stock an “overweight” rating in a research note on Friday, July 24th. Robert W. Baird upped their price objective on shares of Norfolk Southern from $360.00 to $377.00 and gave the stock a “neutral” rating in a report on Monday, July 27th. Wells Fargo & Company upped their price objective on shares of Norfolk Southern from $365.00 to $385.00 and gave the stock an “overweight” rating in a report on Friday, July 24th. Stephens raised shares of Norfolk Southern to a “hold” rating in a research report on Wednesday, July 8th. Finally, Evercore lifted their target price on shares of Norfolk Southern from $358.00 to $360.00 in a research note on Wednesday, September 30th. Seven equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $350.00.

Norfolk Southern Trading Down 0.1%

NSC opened at $317.20 on Friday. The business has a 50 day simple moving average of $330.93 and a two-hundred day simple moving average of $316.90. The firm has a market capitalization of $71.25 billion, a price-to-earnings ratio of 27.06, a PEG ratio of 4.76 and a beta of 1.29. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.83 and a quick ratio of 0.73. Norfolk Southern has a one year low of $277.80 and a one year high of $358.60.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share for the quarter, topping analysts’ consensus estimates of $3.32 by $0.20. Norfolk Southern had a return on equity of 18.21% and a net margin of 21.02%.The firm had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.38 billion. During the same period last year, the company earned $3.29 EPS. The business’s quarterly revenue was up 12.5% compared to the same quarter last year. Analysts predict that Norfolk Southern will post 12.75 EPS for the current year.

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Friday, August 7th were issued a $1.35 dividend. The ex-dividend date was Friday, August 7th. This represents a $5.40 dividend on an annualized basis and a yield of 1.7%. Norfolk Southern’s dividend payout ratio is 46.08%.

Institutional Trading of Norfolk Southern

A number of hedge funds have recently modified their holdings of NSC. CX Institutional boosted its holdings in shares of Norfolk Southern by 7.4% during the 3rd quarter. CX Institutional now owns 5,294 shares of the railroad operator’s stock valued at $1,636,000 after buying an additional 365 shares in the last quarter. Versant Capital Management Inc lifted its position in Norfolk Southern by 57.7% during the 3rd quarter. Versant Capital Management Inc now owns 1,120 shares of the railroad operator’s stock valued at $346,000 after acquiring an additional 410 shares during the period. QRG Capital Management Inc. lifted its position in Norfolk Southern by 7.6% during the 2nd quarter. QRG Capital Management Inc. now owns 16,637 shares of the railroad operator’s stock valued at $5,234,000 after acquiring an additional 1,175 shares during the period. Envestnet Portfolio Solutions Inc. lifted its position in Norfolk Southern by 47.1% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 2,707 shares of the railroad operator’s stock valued at $852,000 after acquiring an additional 867 shares during the period. Finally, Security National Bank of Sioux City Iowa IA bought a new stake in Norfolk Southern during the second quarter worth about $93,000. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Company Profile

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.