Norfolk Southern (NYSE:NSC) Price Target Raised to $255.00 at Susquehanna

Norfolk Southern (NYSE:NSC) had its price target increased by Susquehanna from $245.00 to $255.00 in a research note released on Friday, Benzinga reports. They currently have a neutral rating on the railroad operator’s stock.

A number of other equities analysts have also recently commented on NSC. Stifel Nicolaus cut their target price on shares of Norfolk Southern from $241.00 to $239.00 and set a hold rating on the stock in a report on Wednesday, July 17th. Jefferies Financial Group started coverage on shares of Norfolk Southern in a report on Monday, April 8th. They issued a buy rating and a $300.00 target price on the stock. Barclays dropped their price objective on shares of Norfolk Southern from $305.00 to $275.00 and set an overweight rating on the stock in a research note on Monday, May 13th. Loop Capital upped their price target on shares of Norfolk Southern from $261.00 to $270.00 and gave the stock a buy rating in a research note on Thursday, April 18th. Finally, TD Cowen upped their price target on shares of Norfolk Southern from $251.00 to $253.00 and gave the stock a hold rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, Norfolk Southern has a consensus rating of Moderate Buy and an average price target of $264.24.

Norfolk Southern Stock Up 0.2 %

Shares of NYSE:NSC opened at $247.63 on Friday. The company has a market capitalization of $55.94 billion, a PE ratio of 39.88, a P/E/G ratio of 2.44 and a beta of 1.32. The company has a current ratio of 0.63, a quick ratio of 0.54 and a debt-to-equity ratio of 1.30. Norfolk Southern has a twelve month low of $183.09 and a twelve month high of $263.66. The firm has a 50 day simple moving average of $222.97 and a 200-day simple moving average of $237.76.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Thursday, July 25th. The railroad operator reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.86 by $0.20. The business had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.04 billion. Norfolk Southern had a net margin of 14.85% and a return on equity of 19.64%. The company’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.95 EPS. On average, equities analysts predict that Norfolk Southern will post 11.6 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Friday, August 2nd will be issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend is Friday, August 2nd. Norfolk Southern’s dividend payout ratio (DPR) is 86.96%.

Insider Activity at Norfolk Southern

In related news, Director Sameh Fahmy acquired 2,000 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were acquired at an average cost of $219.25 per share, for a total transaction of $438,500.00. Following the completion of the purchase, the director now directly owns 7,000 shares in the company, valued at $1,534,750. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Norfolk Southern news, CMO Claude E. Elkins sold 8,329 shares of the business’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 sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Sameh Fahmy purchased 2,000 shares of the company’s stock in a transaction on Friday, June 14th. The stock was acquired at an average price of $219.25 per share, for a total transaction of $438,500.00. Following the completion of the transaction, the director now owns 7,000 shares of the company’s stock, valued at approximately $1,534,750. The disclosure for this purchase can be found here. Company insiders own 0.19% of the company’s stock.

Institutional Trading of Norfolk Southern

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Cedar Wealth Management LLC purchased a new position in Norfolk Southern during the 1st quarter valued at about $27,000. 1620 Investment Advisors Inc. purchased a new position in Norfolk Southern during the 2nd quarter valued at about $27,000. Rise Advisors LLC purchased a new position in Norfolk Southern during the 1st quarter valued at about $34,000. Turtle Creek Wealth Advisors LLC purchased a new position in Norfolk Southern during the 4th quarter valued at about $32,000. Finally, Financial Connections Group Inc. purchased a new position in Norfolk Southern during the 4th quarter valued at about $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.