Citigroup Raises Norfolk Southern (NYSE:NSC) Price Target to $316.00

Norfolk Southern (NYSE:NSC) had its price target boosted by Citigroup from $302.00 to $316.00 in a research report report published on Tuesday,Benzinga reports. They currently have a buy rating on the railroad operator’s stock.

NSC has been the subject of several other reports. Evercore ISI lowered their price target on Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Loop Capital upped their price target on Norfolk Southern from $285.00 to $287.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Bank of America lifted their price objective on shares of Norfolk Southern from $276.00 to $291.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. UBS Group raised their price target on shares of Norfolk Southern from $289.00 to $309.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, TD Cowen boosted their price objective on shares of Norfolk Southern from $253.00 to $259.00 and gave the stock a “hold” rating in a report on Wednesday, October 23rd. One research 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $275.68.

Norfolk Southern Stock Performance

NYSE:NSC opened at $264.76 on Tuesday. The firm has a 50-day moving average price of $252.52 and a two-hundred day moving average price of $238.46. The company has a market capitalization of $59.90 billion, a P/E ratio of 24.86, a price-to-earnings-growth ratio of 2.55 and a beta of 1.30. Norfolk Southern has a twelve month low of $204.90 and a twelve month high of $277.60. The company has a current ratio of 0.73, a quick ratio of 0.65 and a debt-to-equity ratio of 1.21.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $3.08 billion. During the same period in the previous year, the firm posted $2.65 earnings per share. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. As a group, research analysts expect that Norfolk Southern will post 11.82 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Friday, November 1st will be issued a $1.35 dividend. The ex-dividend date is Friday, November 1st. This represents a $5.40 annualized dividend and a yield of 2.04%. Norfolk Southern’s dividend payout ratio (DPR) is presently 50.70%.

Insider Activity at Norfolk Southern

In other news, Director Sameh Fahmy bought 1,000 shares of the business’s stock in a transaction on Thursday, October 24th. The shares were purchased at an average price of $255.00 per share, for a total transaction of $255,000.00. Following the purchase, the director now owns 10,000 shares of the company’s stock, valued at approximately $2,550,000. The trade was a 11.11 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Alan H. Shaw sold 51,325 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $255.98, for a total transaction of $13,138,173.50. Following the transaction, the chief executive officer now owns 35,045 shares of the company’s stock, valued at $8,970,819.10. The trade was a 59.42 % decrease in their position. The disclosure for this sale can be found here. 0.19% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Norfolk Southern

A number of institutional investors have recently added to or reduced their stakes in the company. Highline Wealth Partners LLC bought a new stake in shares of Norfolk Southern in the third quarter valued at about $25,000. Cedar Wealth Management LLC acquired a new stake in Norfolk Southern during the first quarter worth about $27,000. 1620 Investment Advisors Inc. bought a new position in Norfolk Southern in the second quarter valued at approximately $27,000. Financial Connections Group Inc. bought a new position in shares of Norfolk Southern in the 2nd quarter valued at $31,000. Finally, HWG Holdings LP bought a new stake in shares of Norfolk Southern during the 2nd quarter worth $31,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

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.