Shares of Norfolk Southern Corp. (NYSE:NSC) have received an average rating of “Hold” from the twenty-three ratings firms that are covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $194.10.
NSC has been the subject of several recent research reports. Royal Bank of Canada reissued a “sell” rating and issued a $140.00 price target on shares of Norfolk Southern in a research report on Sunday, April 12th. Citigroup increased their price target on shares of Norfolk Southern from $200.00 to $214.00 and gave the stock a “buy” rating in a research report on Thursday. TD Securities raised shares of Norfolk Southern from a “hold” rating to a “buy” rating and set a $215.00 price target for the company in a research report on Thursday, July 2nd. Stifel Nicolaus initiated coverage on shares of Norfolk Southern in a research report on Monday, April 6th. They issued a “hold” rating and a $163.00 price target for the company. Finally, Argus dropped their price target on shares of Norfolk Southern from $235.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday, May 6th.
Shares of NSC opened at $192.21 on Tuesday. The company has a 50-day simple moving average of $178.04 and a 200-day simple moving average of $177.16. The firm has a market capitalization of $52.94 billion, a P/E ratio of 20.80, a P/E/G ratio of 3.38 and a beta of 1.37. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.78 and a current ratio of 1.21. Norfolk Southern has a 52 week low of $112.62 and a 52 week high of $219.88.
Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Wednesday, July 29th. The railroad operator reported $1.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.20. Norfolk Southern had a net margin of 20.47% and a return on equity of 16.06%. The firm had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.06 billion. During the same quarter in the prior year, the business posted $2.70 earnings per share. The company’s quarterly revenue was down 28.7% compared to the same quarter last year. As a group, equities analysts forecast that Norfolk Southern will post 8.71 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Friday, August 7th will be paid a dividend of $0.94 per share. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $3.76 annualized dividend and a dividend yield of 1.96%. Norfolk Southern’s dividend payout ratio (DPR) is currently 36.36%.
In other Norfolk Southern news, COO Michael Joseph Wheeler sold 10,080 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $182.96, for a total value of $1,844,236.80. Following the transaction, the chief operating officer now directly owns 31,844 shares of the company’s stock, valued at $5,826,178.24. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Clyde H. Allison, Jr. sold 1,593 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $192.65, for a total transaction of $306,891.45. Following the completion of the transaction, the vice president now directly owns 41,146 shares in the company, valued at $7,926,776.90. The disclosure for this sale can be found here. Insiders have sold 71,388 shares of company stock worth $13,616,926 over the last three months. 0.32% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in the business. Pitcairn Co. boosted its stake in Norfolk Southern by 1.5% in the second quarter. Pitcairn Co. now owns 4,053 shares of the railroad operator’s stock valued at $712,000 after acquiring an additional 61 shares during the last quarter. Doliver Advisors LP boosted its stake in Norfolk Southern by 3.3% in the first quarter. Doliver Advisors LP now owns 2,065 shares of the railroad operator’s stock valued at $345,000 after acquiring an additional 65 shares during the last quarter. Peapack Gladstone Financial Corp boosted its stake in Norfolk Southern by 1.3% in the first quarter. Peapack Gladstone Financial Corp now owns 5,427 shares of the railroad operator’s stock valued at $793,000 after acquiring an additional 67 shares during the last quarter. Gradient Investments LLC raised its holdings in Norfolk Southern by 8.9% in the second quarter. Gradient Investments LLC now owns 848 shares of the railroad operator’s stock worth $149,000 after purchasing an additional 69 shares during the period. Finally, Stonebridge Financial Planning Group LLC raised its holdings in Norfolk Southern by 27.5% in the first quarter. Stonebridge Financial Planning Group LLC now owns 325 shares of the railroad operator’s stock worth $52,000 after purchasing an additional 70 shares during the period. 67.67% of the stock is currently owned by hedge funds and other institutional investors.
About Norfolk Southern
Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. The company transports industrial products, including chemicals, agriculture, and metals and construction materials; and coal, automobiles, and automotive parts.
Recommended Story: Why do commodities matter?
Receive News & Ratings for Norfolk Southern Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Norfolk Southern and related companies with MarketBeat.com's FREE daily email newsletter.