Wells Fargo & Company Cuts Norfolk Southern (NYSE:NSC) Price Target to $300.00

Norfolk Southern (NYSE:NSC) had its price target trimmed by Wells Fargo & Company from $320.00 to $300.00 in a research report report published on Tuesday,Benzinga reports. The firm currently has an overweight rating on the railroad operator’s stock.

A number of other research analysts also recently weighed in on the company. JPMorgan Chase & Co. upped their price target on Norfolk Southern from $283.00 to $288.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Royal Bank of Canada upped their target price on Norfolk Southern from $272.00 to $282.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Barclays lifted their price target on shares of Norfolk Southern from $290.00 to $305.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Jefferies Financial Group upped their price objective on shares of Norfolk Southern from $275.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Evercore ISI reduced their price objective on shares of Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $275.68.

Norfolk Southern Price Performance

Shares of NSC opened at $236.94 on Tuesday. The firm has a market cap of $53.61 billion, a PE ratio of 22.25, a price-to-earnings-growth ratio of 2.34 and a beta of 1.34. Norfolk Southern has a 52-week low of $206.71 and a 52-week high of $277.60. The business’s 50 day moving average price is $253.60 and its two-hundred day moving average price is $245.30. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.65 and a current ratio of 0.73.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.11 by $0.14. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The business had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same period in the prior year, the firm earned $2.65 earnings per share. Norfolk Southern’s revenue was up 3.3% on a year-over-year basis. On average, equities analysts anticipate that Norfolk Southern will post 11.82 EPS for the current year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Friday, November 1st were given a dividend of $1.35 per share. The ex-dividend date was Friday, November 1st. This represents a $5.40 annualized dividend and a yield of 2.28%. Norfolk Southern’s payout ratio is currently 50.70%.

Insiders Place Their Bets

In other news, Director Sameh Fahmy bought 350 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was acquired at an average cost of $249.37 per share, with a total value of $87,279.50. Following the completion of the transaction, the director now directly owns 10,350 shares of the company’s stock, valued at $2,580,979.50. This represents a 3.50 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NSC. Highline Wealth Partners LLC bought a new position in Norfolk Southern during the third quarter worth about $25,000. Morse Asset Management Inc purchased a new stake in shares of Norfolk Southern during the 3rd quarter valued at approximately $30,000. HWG Holdings LP bought a new position in Norfolk Southern in the 2nd quarter worth approximately $31,000. Coastline Trust Co purchased a new position in Norfolk Southern in the 3rd quarter valued at approximately $32,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Norfolk Southern during the third quarter worth $33,000. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Company Profile

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.