Norfolk Southern (NYSE:NSC) Sets New 52-Week High After Dividend Announcement

Shares of Norfolk Southern Corporation (NYSE:NSCGet Free Report) reached a new 52-week high on Friday after the company announced a dividend. The company traded as high as $322.20 and last traded at $321.8130, with a volume of 1413253 shares traded. The stock had previously closed at $298.33.

The newly announced dividend which will be paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th will be paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 1.7%. The ex-dividend date is Friday, May 8th. Norfolk Southern’s dividend payout ratio is currently 42.35%.

Analyst Upgrades and Downgrades

NSC has been the subject of several recent analyst reports. Evercore set a $325.00 price objective on Norfolk Southern in a research note on Friday. Jefferies Financial Group dropped their price objective on Norfolk Southern from $350.00 to $310.00 and set a “hold” rating for the company in a research note on Monday, April 6th. Wall Street Zen upgraded Norfolk Southern to a “sell” rating in a research note on Saturday, April 4th. UBS Group lowered Norfolk Southern from a “buy” rating to a “neutral” rating and set a $342.00 price objective for the company. in a research note on Friday, February 6th. Finally, Sanford C. Bernstein dropped their price objective on Norfolk Southern from $322.00 to $313.00 and set an “outperform” rating for the company in a research note on Tuesday, March 31st. Seven equities research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $311.61.

Read Our Latest Research Report on NSC

Norfolk Southern Stock Performance

The company has a market capitalization of $78.37 billion, a price-to-earnings ratio of 25.10, a price-to-earnings-growth ratio of 5.92 and a beta of 1.31. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.85 and a quick ratio of 0.78. The stock has a 50 day moving average price of $299.61 and a two-hundred day moving average price of $293.74.

Norfolk Southern (NYSE:NSCGet Free Report) last announced its earnings results on Friday, April 24th. The railroad operator reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.49 by $0.16. Norfolk Southern had a return on equity of 18.78% and a net margin of 23.59%.The company had revenue of $3 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same period last year, the company posted $2.69 earnings per share. The firm’s quarterly revenue was up .2% compared to the same quarter last year. On average, analysts predict that Norfolk Southern Corporation will post 12.14 EPS for the current fiscal year.

Trending Headlines about Norfolk Southern

Here are the key news stories impacting Norfolk Southern this week:

Institutional Trading of Norfolk Southern

Hedge funds and other institutional investors have recently made changes to their positions in the business. ORG Partners LLC increased its stake in shares of Norfolk Southern by 75.0% in the third quarter. ORG Partners LLC now owns 84 shares of the railroad operator’s stock valued at $25,000 after buying an additional 36 shares in the last quarter. JPL Wealth Management LLC acquired a new stake in shares of Norfolk Southern in the third quarter valued at $25,000. Westside Investment Management Inc. increased its stake in shares of Norfolk Southern by 207.1% in the third quarter. Westside Investment Management Inc. now owns 86 shares of the railroad operator’s stock valued at $26,000 after buying an additional 58 shares in the last quarter. BNP Paribas acquired a new stake in shares of Norfolk Southern in the second quarter valued at $26,000. Finally, GoalVest Advisory LLC increased its stake in shares of Norfolk Southern by 933.3% in the fourth quarter. GoalVest Advisory LLC now owns 93 shares of the railroad operator’s stock valued at $27,000 after buying an additional 84 shares in the last quarter. 75.10% of the stock is currently owned by institutional investors and hedge funds.

About Norfolk Southern

(Get Free Report)

Norfolk Southern Corporation is a major U.S. freight railroad company that provides rail transportation and related logistics services. As a Class I carrier, the company operates an extensive network across the eastern United States and offers scheduled freight service for a broad range of industries. Its core operations include long-haul and regional rail freight transportation, intermodal services that move containers and trailers between rail and other modes, and terminal and switching services that support efficient rail shipments for industrial and port customers.

The company transports a variety of commodities, serving sectors such as coal and energy, automotive and automotive parts, chemicals, agriculture, metals and construction materials, and consumer goods.

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