Citigroup Begins Coverage on Norfolk Southern (NYSE:NSC)

Citigroup began coverage on shares of Norfolk Southern (NYSE:NSC) in a research report report published on Wednesday, MarketBeat.com reports. The firm issued a buy rating and a $294.00 target price on the railroad operator’s stock.

Several other equities analysts have also recently commented on NSC. Sanford C. Bernstein cut 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. Morgan Stanley reiterated an underweight rating and set a $175.00 price target on shares of Norfolk Southern in a research note on Monday, July 8th. Susquehanna increased their price objective on shares of Norfolk Southern from $255.00 to $280.00 and gave the company a neutral rating in a research note on Wednesday, October 2nd. Evercore ISI lifted their target price on shares of Norfolk Southern from $265.00 to $276.00 and gave the company an outperform rating in a research report on Wednesday, September 25th. Finally, Stifel Nicolaus increased their price target on shares of Norfolk Southern from $239.00 to $241.00 and gave the stock a hold rating in a research report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $266.17.

Norfolk Southern Stock Up 1.7 %

Shares of NSC stock opened at $250.17 on Wednesday. Norfolk Southern has a 12 month low of $183.09 and a 12 month high of $263.66. The company has a quick ratio of 0.54, a current ratio of 0.63 and a debt-to-equity ratio of 1.30. The firm has a market cap of $56.52 billion, a PE ratio of 40.29, a price-to-earnings-growth ratio of 2.33 and a beta of 1.31. The stock has a 50 day moving average of $246.64 and a 200-day moving average of $236.77.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Thursday, July 25th. The railroad operator reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.86 by $0.20. Norfolk Southern had a net margin of 14.85% and a return on equity of 19.64%. The firm had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.04 billion. During the same period in the prior year, the firm earned $2.95 EPS. The business’s revenue was up 2.1% on a year-over-year basis. On average, equities analysts predict that Norfolk Southern will post 11.79 EPS for the current year.

Norfolk Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Friday, August 2nd were paid a $1.35 dividend. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.16%. Norfolk Southern’s dividend payout ratio (DPR) is presently 86.96%.

Insider Buying and Selling

In other Norfolk Southern news, EVP Nabanita C. Nag sold 355 shares of the firm’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 completion of the sale, the executive vice president now owns 1,488 shares in the company, valued at approximately $371,077.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Richard H. Anderson bought 2,000 shares of the stock in a transaction dated Monday, July 29th. The stock was bought at an average cost of $247.48 per share, with a total value of $494,960.00. Following the purchase, the director now owns 3,000 shares of the company’s stock, valued at approximately $742,440. This represents a 200.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Nabanita C. Nag sold 355 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $249.38, for a total value of $88,529.90. Following the transaction, the executive vice president now directly owns 1,488 shares in the company, valued at $371,077.44. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.19% of the stock is owned by corporate insiders.

Institutional Trading of Norfolk Southern

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NSC. Cedar Wealth Management LLC acquired a new stake in shares of Norfolk Southern during the 1st quarter worth approximately $27,000. 1620 Investment Advisors Inc. acquired a new stake in Norfolk Southern during the 2nd quarter worth $27,000. Financial Connections Group Inc. bought a new stake in shares of Norfolk Southern during the 2nd quarter valued at $31,000. HWG Holdings LP acquired a new position in shares of Norfolk Southern in the 2nd quarter valued at $31,000. Finally, Rise Advisors LLC bought a new position in shares of Norfolk Southern in the 1st quarter worth $34,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

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.