Norfolk Southern Co. (NYSE:NSC) Announces $1.35 Quarterly Dividend

Norfolk Southern Co. (NYSE:NSCGet Free Report) announced a quarterly dividend on Tuesday, January 28th,RTT News reports. Shareholders of record on Friday, February 7th will be given a dividend of 1.35 per share by the railroad operator on Thursday, February 20th. This represents a $5.40 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend is Friday, February 7th.

Norfolk Southern has increased its dividend by an average of 9.1% per year over the last three years. Norfolk Southern has a payout ratio of 35.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Norfolk Southern to earn $14.65 per share next year, which means the company should continue to be able to cover its $5.40 annual dividend with an expected future payout ratio of 36.9%.

Norfolk Southern Stock Performance

Shares of NSC opened at $253.63 on Wednesday. The firm has a market capitalization of $57.38 billion, a P/E ratio of 21.94, a PEG ratio of 2.35 and a beta of 1.35. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.90 and a quick ratio of 0.82. The business has a fifty day moving average of $247.98 and a 200 day moving average of $249.47. Norfolk Southern has a one year low of $206.71 and a one year high of $277.60.

Norfolk Southern (NYSE:NSCGet Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.97 by $0.07. Norfolk Southern had a return on equity of 20.04% and a net margin of 21.63%. As a group, sell-side analysts anticipate that Norfolk Southern will post 13.07 EPS for the current year.

Analyst Ratings Changes

NSC has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their price target on Norfolk Southern from $284.00 to $286.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Stifel Nicolaus increased their target price on Norfolk Southern from $241.00 to $245.00 and gave the company a “hold” rating in a research report on Friday, October 11th. UBS Group lifted their price target on shares of Norfolk Southern from $289.00 to $309.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Benchmark reissued a “buy” rating and issued a $285.00 price objective on shares of Norfolk Southern in a research note on Thursday, January 30th. Finally, TD Cowen upped their target price on Norfolk Southern from $253.00 to $259.00 and gave the company a “hold” rating in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $276.11.

View Our Latest Report on NSC

Insider Buying and Selling

In related news, Director Sameh Fahmy purchased 350 shares of the company’s stock in a transaction dated Thursday, December 12th. The stock was acquired at an average cost of $249.37 per share, for a total transaction of $87,279.50. Following the completion of the transaction, the director now directly owns 10,350 shares of the company’s stock, valued at approximately $2,580,979.50. This trade represents a 3.50 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gilbert H. Lamphere purchased 607 shares of Norfolk Southern stock in a transaction dated Friday, January 31st. The shares were purchased at an average cost of $259.86 per share, for a total transaction of $157,735.02. Following the transaction, the director now owns 2,487 shares in the company, valued at approximately $646,271.82. This trade represents a 32.29 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.19% of the company’s stock.

Norfolk Southern Company Profile

(Get Free Report)

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.

Further Reading

Dividend History for Norfolk Southern (NYSE:NSC)

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