Norfolk Southern (NYSE:NSC) Given New $276.00 Price Target at Evercore ISI

Norfolk Southern (NYSE:NSC) had its price objective increased by Evercore ISI from $265.00 to $276.00 in a report released on Wednesday, Benzinga reports. They currently have an outperform rating on the railroad operator’s stock.

A number of other equities analysts also recently weighed in on the company. Morgan Stanley reissued an underweight rating and set a $175.00 price target on shares of Norfolk Southern in a research report on Monday, July 8th. Wells Fargo & Company upped their target price on Norfolk Southern from $260.00 to $270.00 and gave the stock an overweight rating in a research note on Friday, July 26th. Susquehanna increased their price target on Norfolk Southern from $245.00 to $255.00 and gave the company a neutral rating in a research note on Friday, July 26th. Stifel Nicolaus increased their price objective on Norfolk Southern from $239.00 to $241.00 and gave the company a hold rating in a report on Friday, July 26th. Finally, Sanford C. Bernstein decreased their price target on Norfolk Southern from $288.00 to $285.00 and set an outperform rating for the company in a report on Monday, July 8th. One analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $264.89.

Norfolk Southern Stock Performance

NSC stock opened at $246.47 on Wednesday. The business’s 50-day moving average price is $244.95 and its two-hundred day moving average price is $237.42. The company has a current ratio of 0.63, a quick ratio of 0.54 and a debt-to-equity ratio of 1.30. The firm has a market cap of $55.68 billion, a PE ratio of 39.69, a P/E/G ratio of 2.40 and a beta of 1.31. Norfolk Southern has a 1-year low of $183.09 and a 1-year high of $263.66.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Thursday, July 25th. The railroad operator reported $3.06 EPS for the quarter, beating analysts’ consensus estimates of $2.86 by $0.20. The company had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.04 billion. Norfolk Southern had a return on equity of 19.64% and a net margin of 14.85%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.95 earnings per share. As a group, research analysts forecast that Norfolk Southern will post 11.8 earnings per share for the current year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Friday, August 2nd were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend was Friday, August 2nd. Norfolk Southern’s dividend payout ratio is currently 86.96%.

Insiders Place Their Bets

In other Norfolk Southern news, EVP Nabanita C. Nag sold 355 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $249.38, for a total value of $88,529.90. Following the sale, the executive vice president now owns 1,488 shares in the company, valued at $371,077.44. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Norfolk Southern news, Director Sameh Fahmy purchased 700 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were acquired at an average cost of $245.15 per share, for a total transaction of $171,605.00. Following the completion of the transaction, the director now owns 7,700 shares of the company’s stock, valued at $1,887,655. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Nabanita C. Nag sold 355 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $249.38, for a total transaction of $88,529.90. Following the completion of the transaction, the executive vice president now owns 1,488 shares in the company, valued at $371,077.44. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

Institutional Trading of Norfolk Southern

Hedge funds and other institutional investors have recently modified their holdings of the company. Raleigh Capital Management Inc. increased its holdings in Norfolk Southern by 4.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 956 shares of the railroad operator’s stock valued at $226,000 after acquiring an additional 40 shares during the last quarter. Hall Capital Management Co. Inc. boosted its stake in shares of Norfolk Southern by 2.8% during the 2nd quarter. Hall Capital Management Co. Inc. now owns 1,516 shares of the railroad operator’s stock worth $325,000 after purchasing an additional 42 shares during the period. Blue Chip Partners LLC boosted its position in Norfolk Southern by 0.5% in the 2nd quarter. Blue Chip Partners LLC now owns 7,716 shares of the railroad operator’s stock valued at $1,656,000 after buying an additional 42 shares during the period. Stephens Consulting LLC boosted its position in Norfolk Southern by 12.4% in the 2nd quarter. Stephens Consulting LLC now owns 381 shares of the railroad operator’s stock valued at $82,000 after buying an additional 42 shares during the period. Finally, Indiana Trust & Investment Management CO boosted its position in Norfolk Southern by 3.0% in the 1st quarter. Indiana Trust & Investment Management CO now owns 1,477 shares of the railroad operator’s stock valued at $376,000 after buying an additional 43 shares during the period. 75.10% of the stock is owned by hedge funds and other institutional investors.

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.