Norfolk Southern (NYSE:NSC) Given New $285.00 Price Target at Sanford C. Bernstein

Norfolk Southern (NYSE:NSCFree Report) had its price objective trimmed by Sanford C. Bernstein from $288.00 to $285.00 in a report issued on Monday morning, Benzinga reports. The brokerage currently has an outperform rating on the railroad operator’s stock.

Several other equities research analysts also recently weighed in on the company. JPMorgan Chase & Co. upped their price target on Norfolk Southern from $240.00 to $275.00 and gave the stock an overweight rating in a report on Tuesday, April 9th. Barclays cut their price target on Norfolk Southern from $305.00 to $275.00 and set an overweight rating on the stock in a report on Monday, May 13th. Loop Capital upped their price target on Norfolk Southern from $261.00 to $270.00 and gave the stock a buy rating in a report on Thursday, April 18th. Wells Fargo & Company dropped their price objective on Norfolk Southern from $270.00 to $260.00 and set an overweight rating on the stock in a report on Tuesday, June 25th. Finally, Stifel Nicolaus increased their price objective on Norfolk Southern from $233.00 to $244.00 and gave the company a hold rating in a report on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $263.61.

Read Our Latest Stock Analysis on Norfolk Southern

Norfolk Southern Stock Performance

Shares of Norfolk Southern stock opened at $214.25 on Monday. Norfolk Southern has a 52 week low of $183.09 and a 52 week high of $263.66. The business’s fifty day simple moving average is $223.99 and its 200-day simple moving average is $238.28. The firm has a market cap of $48.40 billion, a PE ratio of 34.50, a price-to-earnings-growth ratio of 2.04 and a beta of 1.32. The company has a quick ratio of 0.61, a current ratio of 0.68 and a debt-to-equity ratio of 1.37.

Norfolk Southern (NYSE:NSCGet Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The railroad operator reported $2.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.58 by ($0.09). The firm had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3.05 billion. Norfolk Southern had a net margin of 11.76% and a return on equity of 19.61%. Norfolk Southern’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.32 EPS. Equities analysts forecast that Norfolk Southern will post 11.88 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Friday, May 3rd were given a dividend of $1.35 per share. The ex-dividend date was Thursday, May 2nd. This represents a $5.40 dividend on an annualized basis and a yield of 2.52%. Norfolk Southern’s payout ratio is 86.96%.

Insiders Place Their Bets

In other Norfolk Southern news, CMO Claude E. Elkins sold 8,329 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $228.43, for a total transaction of $1,902,593.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Norfolk Southern news, CMO Claude E. Elkins sold 8,329 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $228.43, for a total transaction of $1,902,593.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sameh Fahmy acquired 2,000 shares of the firm’s stock in a transaction on Friday, June 14th. The shares were bought at an average cost of $219.25 per share, with a total value of $438,500.00. Following the completion of the transaction, the director now directly owns 7,000 shares in the company, valued at approximately $1,534,750. The disclosure for this purchase can be found here. 0.19% of the stock is owned by insiders.

Institutional Trading of Norfolk Southern

Several hedge funds have recently modified their holdings of NSC. Norges Bank acquired a new stake in shares of Norfolk Southern in the 4th quarter valued at approximately $556,797,000. Boston Partners lifted its holdings in shares of Norfolk Southern by 157.1% in the 1st quarter. Boston Partners now owns 2,890,665 shares of the railroad operator’s stock valued at $735,749,000 after buying an additional 1,766,135 shares during the period. American Century Companies Inc. lifted its holdings in shares of Norfolk Southern by 69.0% in the 3rd quarter. American Century Companies Inc. now owns 2,723,398 shares of the railroad operator’s stock valued at $536,319,000 after buying an additional 1,112,261 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Norfolk Southern by 5.9% in the 1st quarter. Vanguard Group Inc. now owns 19,623,690 shares of the railroad operator’s stock valued at $5,001,490,000 after buying an additional 1,088,072 shares during the period. Finally, Stifel Financial Corp increased its stake in Norfolk Southern by 600.3% in the 4th quarter. Stifel Financial Corp now owns 1,021,312 shares of the railroad operator’s stock valued at $241,421,000 after purchasing an additional 875,473 shares in the last quarter. 75.10% of the stock is owned by institutional investors and hedge funds.

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.

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Analyst Recommendations for Norfolk Southern (NYSE:NSC)

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