Norfolk Southern Co. (NYSE:NSC) Receives $237.15 Average PT from Brokerages

Norfolk Southern Co. (NYSE:NSC) has been assigned a consensus rating of “Moderate Buy” from the twenty-one ratings firms that are presently covering the company, MarketBeat.com reports. Eight analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $237.15.

NSC has been the subject of several recent research reports. Susquehanna lowered their price target on shares of Norfolk Southern from $245.00 to $215.00 and set a “neutral” rating for the company in a research note on Tuesday, October 3rd. TD Cowen boosted their price target on shares of Norfolk Southern from $243.00 to $253.00 and gave the stock an “outperform” rating in a research note on Friday, July 28th. Morgan Stanley lowered their price target on shares of Norfolk Southern from $174.00 to $170.00 and set an “equal weight” rating for the company in a research note on Thursday, October 26th. Bank of America downgraded shares of Norfolk Southern from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $266.00 to $215.00 in a research note on Monday, October 2nd. Finally, BMO Capital Markets lowered their price objective on shares of Norfolk Southern from $255.00 to $230.00 and set a “market perform” rating for the company in a research note on Thursday, October 26th.

Norfolk Southern Stock Up 1.3 %

Shares of NYSE:NSC opened at $211.04 on Friday. Norfolk Southern has a 52-week low of $183.09 and a 52-week high of $261.71. The firm has a fifty day moving average of $198.03 and a 200 day moving average of $211.18. The firm has a market capitalization of $47.72 billion, a PE ratio of 23.14, a price-to-earnings-growth ratio of 2.87 and a beta of 1.29. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.97 and a current ratio of 1.08.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Wednesday, October 25th. The railroad operator reported $2.65 earnings per share for the quarter, missing the consensus estimate of $2.74 by ($0.09). The business had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.94 billion. Norfolk Southern had a return on equity of 22.26% and a net margin of 16.96%. As a group, research analysts anticipate that Norfolk Southern will post 11.81 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Friday, November 3rd will be given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.56%. The ex-dividend date is Thursday, November 2nd. Norfolk Southern’s dividend payout ratio is currently 59.21%.

Hedge Funds Weigh In On Norfolk Southern

Several hedge funds and other institutional investors have recently modified their holdings of NSC. Bank Julius Baer & Co. Ltd Zurich grew its holdings in Norfolk Southern by 96,900.2% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 10,018,183 shares of the railroad operator’s stock worth $2,271,723,000 after purchasing an additional 10,007,855 shares during the period. Moneta Group Investment Advisors LLC grew its holdings in Norfolk Southern by 95,518.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 3,028,232 shares of the railroad operator’s stock worth $746,217,000 after purchasing an additional 3,025,065 shares during the period. Norges Bank purchased a new stake in Norfolk Southern in the fourth quarter worth about $537,007,000. Price T Rowe Associates Inc. MD grew its holdings in Norfolk Southern by 86.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,724,821 shares of the railroad operator’s stock worth $671,451,000 after purchasing an additional 1,265,666 shares during the period. Finally, First Trust Advisors LP grew its holdings in Norfolk Southern by 221.8% in the first quarter. First Trust Advisors LP now owns 1,124,545 shares of the railroad operator’s stock worth $238,404,000 after purchasing an additional 775,059 shares during the period. Hedge funds and other institutional investors own 72.37% of the company’s stock.

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.