Benchmark Raises Norfolk Southern (NYSE:NSC) Price Target to $270.00

Norfolk Southern (NYSE:NSC) had its target price upped by Benchmark from $266.00 to $270.00 in a research report sent to investors on Monday, Benzinga reports. They currently have a buy rating on the railroad operator’s stock.

Several other equities analysts also recently issued reports on NSC. Jefferies Financial Group began coverage on shares of Norfolk Southern in a report on Monday, April 8th. They set a buy rating and a $300.00 price target for the company. Barclays reduced their price target on shares of Norfolk Southern from $305.00 to $275.00 and set an overweight rating for the company in a report on Monday, May 13th. Sanford C. Bernstein reduced their price target on shares of Norfolk Southern from $288.00 to $285.00 and set an outperform rating for the company in a report on Monday, July 8th. UBS Group reduced their price objective on shares of Norfolk Southern from $302.00 to $294.00 and set a buy rating for the company in a report on Thursday, April 25th. Finally, Royal Bank of Canada reduced their price objective on shares of Norfolk Southern from $270.00 to $267.00 and set an outperform rating for the company in a report on Friday, July 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Norfolk Southern currently has an average rating of Moderate Buy and an average price target of $264.24.

Norfolk Southern Stock Down 1.3 %

NSC stock opened at $246.34 on Monday. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.63 and a quick ratio of 0.54. Norfolk Southern has a 1-year low of $183.09 and a 1-year high of $263.66. The firm has a fifty day moving average price of $224.25 and a two-hundred day moving average price of $238.04. The firm has a market cap of $55.70 billion, a price-to-earnings ratio of 39.67, a PEG ratio of 2.44 and a beta of 1.32.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Thursday, July 25th. The railroad operator reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.86 by $0.20. Norfolk Southern had a net margin of 14.85% and a return on equity of 19.64%. The company had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.04 billion. During the same quarter in the previous year, the company posted $2.95 earnings per share. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. Research analysts predict that Norfolk Southern will post 11.78 EPS for the current year.

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Friday, August 2nd will be issued a dividend of $1.35 per share. The ex-dividend date is Friday, August 2nd. This represents a $5.40 annualized dividend and a yield of 2.19%. Norfolk Southern’s payout ratio is presently 86.96%.

Insider Activity

In other Norfolk Southern news, Director Sameh Fahmy bought 2,000 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were bought at an average price of $219.25 per share, for a total transaction of $438,500.00. Following the acquisition, the director now directly owns 7,000 shares of the company’s stock, valued at $1,534,750. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Norfolk Southern news, Director Sameh Fahmy bought 2,000 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were bought at an average price of $219.25 per share, for a total transaction of $438,500.00. Following the acquisition, the director now directly owns 7,000 shares of the company’s stock, valued at $1,534,750. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Claude E. Elkins sold 8,329 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $228.43, for a total value of $1,902,593.47. The disclosure for this sale can be found here. Insiders have acquired 9,650 shares of company stock worth $2,182,110 in the last 90 days. Company insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Norfolk Southern

A number of hedge funds have recently added to or reduced their stakes in NSC. Cedar Wealth Management LLC acquired a new position in Norfolk Southern in the first quarter worth approximately $27,000. 1620 Investment Advisors Inc. acquired a new position in Norfolk Southern in the second quarter worth approximately $27,000. Financial Connections Group Inc. acquired a new position in Norfolk Southern in the second quarter worth approximately $31,000. Turtle Creek Wealth Advisors LLC acquired a new position in Norfolk Southern in the fourth quarter worth approximately $32,000. Finally, Rise Advisors LLC acquired a new position in Norfolk Southern in the first quarter worth approximately $34,000. Institutional investors and hedge funds own 75.10% 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.