Norfolk Southern (NYSE:NSC) Price Target Lowered to $274.00 at Evercore ISI

Norfolk Southern (NYSE:NSC) had its target price cut by Evercore ISI from $276.00 to $274.00 in a report published on Wednesday, Benzinga reports. They currently have an outperform rating on the railroad operator’s stock.

Several other analysts have also issued reports on the stock. Barclays boosted their price objective on shares of Norfolk Southern from $275.00 to $290.00 and gave the company an “overweight” rating in a report on Wednesday. Jefferies Financial Group lifted their price target on shares of Norfolk Southern from $275.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Morgan Stanley restated an “underweight” rating and issued a $175.00 price objective on shares of Norfolk Southern in a report on Monday, July 8th. Susquehanna increased their price objective on shares of Norfolk Southern from $280.00 to $285.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Benchmark upped their price target on Norfolk Southern from $270.00 to $285.00 and gave the stock a “buy” rating in a research note on Wednesday. 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 stock has a consensus rating of “Moderate Buy” and a consensus target price of $274.16.

Norfolk Southern Price Performance

NSC stock opened at $256.98 on Wednesday. Norfolk Southern has a 1 year low of $183.09 and a 1 year high of $263.66. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.63 and a quick ratio of 0.54. The business has a 50 day simple moving average of $248.76 and a 200-day simple moving average of $236.88. The firm has a market capitalization of $58.06 billion, a PE ratio of 41.38, a price-to-earnings-growth ratio of 2.33 and a beta of 1.31.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Tuesday, October 22nd. The railroad operator reported $3.25 EPS for the quarter, beating analysts’ consensus estimates of $3.11 by $0.14. The firm had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.08 billion. Norfolk Southern had a return on equity of 19.64% and a net margin of 14.85%. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.65 earnings per share. Equities research analysts anticipate that Norfolk Southern will post 11.79 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Friday, November 1st will be paid a $1.35 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $5.40 annualized dividend and a yield of 2.10%. Norfolk Southern’s dividend payout ratio is currently 86.96%.

Insider Activity

In related news, Director Sameh Fahmy acquired 700 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was bought at an average price of $245.15 per share, for a total transaction of $171,605.00. Following the completion of the purchase, the director now directly owns 7,700 shares of the company’s stock, valued at approximately $1,887,655. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Norfolk Southern news, Director Sameh Fahmy bought 700 shares of the stock in a transaction dated 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 in the company, valued at approximately $1,887,655. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Alan H. Shaw sold 51,325 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $255.98, for a total transaction of $13,138,173.50. Following the completion of the sale, the chief executive officer now owns 35,045 shares of the company’s stock, valued at approximately $8,970,819.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Norfolk Southern

A number of institutional investors have recently added to or reduced their stakes in the business. Cedar Wealth Management LLC acquired a new stake in Norfolk Southern in the 1st quarter valued at about $27,000. 1620 Investment Advisors Inc. purchased a new stake in shares of Norfolk Southern in the second quarter valued at about $27,000. Financial Connections Group Inc. acquired a new stake in shares of Norfolk Southern in the second quarter valued at approximately $31,000. HWG Holdings LP purchased a new position in shares of Norfolk Southern during the 2nd quarter worth approximately $31,000. Finally, Hobbs Group Advisors LLC purchased a new position in shares of Norfolk Southern during the 2nd quarter worth approximately $34,000. Hedge funds and other 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.