Investment Analysts’ Recent Ratings Updates for Norfolk Southern (NSC)

Several brokerages have updated their recommendations and price targets on shares of Norfolk Southern (NYSE: NSC) in the last few weeks:

• 7/29/2024 – Norfolk Southern had its price target raised by analysts at Benchmark Co. from $266.00 to $270.00. They now have a “buy” rating on the stock.
• 7/26/2024 – Norfolk Southern had its price target raised by analysts at Wells Fargo & Company from $260.00 to $270.00. They now have an “overweight” rating on the stock.
• 7/26/2024 – Norfolk Southern had its price target lowered by analysts at Royal Bank of Canada from $270.00 to $267.00. They now have an “outperform” rating on the stock.
• 7/26/2024 – Norfolk Southern had its price target raised by analysts at Susquehanna from $245.00 to $255.00. They now have a “neutral” rating on the stock.
• 7/26/2024 – Norfolk Southern had its price target raised by analysts at Stifel Nicolaus from $239.00 to $241.00. They now have a “hold” rating on the stock.
• 7/26/2024 – Norfolk Southern had its price target raised by analysts at TD Cowen from $251.00 to $253.00. They now have a “hold” rating on the stock.
• 7/17/2024 – Norfolk Southern had its price target lowered by analysts at Stifel Nicolaus from $241.00 to $239.00. They now have a “hold” rating on the stock.
• 7/8/2024 – Norfolk Southern had its “underweight” rating reaffirmed by analysts at Morgan Stanley. They now have a $175.00 price target on the stock.
• 7/8/2024 – Norfolk Southern had its price target lowered by analysts at Sanford C. Bernstein from $288.00 to $285.00. They now have an “outperform” rating on the stock.
• 6/25/2024 – Norfolk Southern had its price target lowered by analysts at Wells Fargo & Company from $270.00 to $260.00. They now have an “overweight” rating on the stock.
• 6/25/2024 – Norfolk Southern had its price target lowered by analysts at Susquehanna from $265.00 to $245.00. They now have a “neutral” rating on the stock.

Norfolk Southern Price Performance

Norfolk Southern stock traded up $0.41 during mid-day trading on Tuesday, reaching $237.59. 5,048 shares of the company were exchanged, compared to its average volume of 1,291,162. The company has a fifty day simple moving average of $226.68 and a 200-day simple moving average of $238.41. The firm has a market cap of $53.67 billion, a PE ratio of 38.26, a PEG ratio of 2.41 and a beta of 1.32. 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 Co. has a 12 month low of $183.09 and a 12 month high of $263.66.

Norfolk Southern (NYSE:NSC) last posted 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. Norfolk Southern had a net margin of 14.85% and a return on equity of 19.64%. The business had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.04 billion. During the same quarter in the prior year, the business posted $2.95 earnings per share. Norfolk Southern’s revenue was up 2.1% compared to the same quarter last year. As a group, equities research analysts expect that Norfolk Southern Co. will post 11.78 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The firm 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. The ex-dividend date of this dividend is Friday, August 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.27%. Norfolk Southern’s dividend payout ratio (DPR) is currently 86.96%.

Insider Activity at Norfolk Southern

In other news, Director Claude Mongeau purchased 5,650 shares of the company’s stock in a transaction dated Wednesday, May 29th. The stock was bought at an average cost of $221.00 per share, for a total transaction of $1,248,650.00. Following the purchase, the director now owns 20,000 shares of the company’s stock, valued at $4,420,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Richard H. Anderson bought 2,000 shares of the business’s stock in a transaction on Monday, July 29th. The shares were purchased at an average cost of $247.48 per share, with a total value of $494,960.00. Following the acquisition, the director now owns 3,000 shares of the company’s stock, valued at $742,440. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Claude Mongeau bought 5,650 shares of Norfolk Southern stock in a transaction that occurred on Wednesday, May 29th. The stock was bought at an average price of $221.00 per share, for a total transaction of $1,248,650.00. Following the completion of the acquisition, the director now directly owns 20,000 shares of the company’s stock, valued at $4,420,000. The disclosure for this purchase can be found here. Insiders have acquired 10,350 shares of company stock valued at $2,353,715 over the last ninety days. 0.19% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Norfolk Southern

Institutional investors have recently modified their holdings of the company. Cedar Wealth Management LLC bought a new stake in Norfolk Southern in the first quarter worth approximately $27,000. 1620 Investment Advisors Inc. acquired a new position in shares of Norfolk Southern during the 2nd quarter valued at $27,000. Financial Connections Group Inc. acquired a new stake in Norfolk Southern in the second quarter worth $31,000. Rise Advisors LLC bought a new stake in Norfolk Southern in the first quarter valued at $34,000. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of Norfolk Southern in the 2nd quarter valued at about $34,000. 75.10% of the stock is owned by institutional investors.

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.