Norfolk Southern (NYSE:NSC) Price Target Raised to $337.00 at TD Cowen

Norfolk Southern (NYSE:NSC) had its target price upped by TD Cowen from $313.00 to $337.00 in a research report report published on Monday morning, MarketBeat reports. They currently have a buy rating on the railroad operator’s stock.

Several other equities analysts have also recently issued reports on the company. Evercore set a $325.00 target price on Norfolk Southern in a research note on Friday. Citigroup reaffirmed a “neutral” rating on shares of Norfolk Southern in a research note on Friday. Weiss Ratings raised Norfolk Southern from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, March 12th. Argus raised Norfolk Southern to a “hold” rating in a research note on Wednesday, February 25th. Finally, Jefferies Financial Group reduced their price target on Norfolk Southern from $350.00 to $310.00 and set a “hold” rating on the stock in a research note on Monday, April 6th. Seven analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $319.44.

Norfolk Southern Price Performance

NSC opened at $318.84 on Monday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.91. Norfolk Southern has a 52-week low of $218.05 and a 52-week high of $323.37. The stock has a market capitalization of $78.06 billion, a PE ratio of 26.86, a price-to-earnings-growth ratio of 5.91 and a beta of 1.31. The stock’s 50 day moving average price is $299.68 and its 200-day moving average price is $293.87.

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

Norfolk Southern Dividend Announcement

The business 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 $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, May 8th. Norfolk Southern’s payout ratio is 45.49%.

Institutional Investors Weigh In On Norfolk Southern

Several hedge funds have recently added to or reduced their stakes in NSC. Norges Bank bought a new stake in Norfolk Southern in the fourth quarter worth $1,084,701,000. Pentwater Capital Management LP bought a new stake in Norfolk Southern in the third quarter worth $826,128,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Norfolk Southern by 545.2% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,306,203 shares of the railroad operator’s stock worth $392,396,000 after acquiring an additional 1,103,748 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in shares of Norfolk Southern during the third quarter valued at $329,629,000. Finally, HBK Investments L P lifted its holdings in shares of Norfolk Southern by 67.7% during the fourth quarter. HBK Investments L P now owns 2,130,000 shares of the railroad operator’s stock valued at $614,974,000 after purchasing an additional 860,000 shares in the last quarter. 75.10% of the stock is owned by institutional investors.

Norfolk Southern Company Profile

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.