BMO Capital Markets Issues Positive Forecast for Norfolk Southern (NYSE:NSC) Stock Price

Norfolk Southern (NYSE:NSC) had its target price hoisted by BMO Capital Markets from $305.00 to $310.00 in a report published on Monday morning, MarketBeat.com reports. The firm currently has a market perform rating on the railroad operator’s stock.

Other research analysts have also recently issued reports about the stock. Wall Street Zen upgraded shares of Norfolk Southern to a “sell” rating in a report on Saturday, April 4th. Evercore set a $325.00 target price on shares of Norfolk Southern in a report on Friday. Rothschild & Co Redburn dropped their target price on shares of Norfolk Southern from $317.00 to $308.00 and set a “neutral” rating on the stock in a report on Wednesday, April 1st. Zacks Research upgraded shares of Norfolk Southern from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 4th. Finally, TD Cowen increased their target price on shares of Norfolk Southern from $313.00 to $337.00 and gave the stock a “buy” rating in a report on Monday. Seven investment analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $319.44.

Norfolk Southern Trading Down 0.3%

NYSE NSC opened at $318.84 on Monday. The company’s 50-day moving average price is $299.68 and its 200-day moving average price is $293.87. The company has a current ratio of 0.91, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. The stock has a market cap of $78.06 billion, a PE ratio of 26.86, a PEG ratio of 5.91 and a beta of 1.31. Norfolk Southern has a 12 month low of $218.05 and a 12 month high of $323.37.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Friday, April 24th. The railroad operator reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.49 by $0.16. The firm had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.13 billion. Norfolk Southern had a net margin of 21.91% and a return on equity of 18.30%. The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the prior year, the business posted $2.69 earnings per share. Equities research analysts forecast that Norfolk Southern will post 12.11 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th will be issued 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 presently 45.49%.

Institutional Trading of Norfolk Southern

Several hedge funds have recently modified their holdings of NSC. Brighton Jones LLC lifted its position in shares of Norfolk Southern by 4.9% during the fourth quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator’s stock valued at $400,000 after buying an additional 79 shares during the last quarter. Intech Investment Management LLC lifted its position in shares of Norfolk Southern by 40.4% during the first quarter. Intech Investment Management LLC now owns 6,447 shares of the railroad operator’s stock valued at $1,527,000 after buying an additional 1,855 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Norfolk Southern during the second quarter valued at about $327,000. Schnieders Capital Management LLC. lifted its position in shares of Norfolk Southern by 64.1% during the second quarter. Schnieders Capital Management LLC. now owns 4,275 shares of the railroad operator’s stock valued at $1,094,000 after buying an additional 1,670 shares during the last quarter. Finally, Jump Financial LLC lifted its position in shares of Norfolk Southern by 185.1% during the second quarter. Jump Financial LLC now owns 4,588 shares of the railroad operator’s stock valued at $1,174,000 after buying an additional 2,979 shares during the last quarter. 75.10% of the stock is owned by hedge funds and other institutional investors.

About Norfolk Southern

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.