Norfolk Southern (NYSE:NSC) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Norfolk Southern (NYSE:NSC) from a sell rating to a hold rating in a research note published on Saturday morning.

NSC has been the topic of several other reports. Wolfe Research increased their price objective on Norfolk Southern from $350.00 to $355.00 and gave the company an “outperform” rating in a research note on Tuesday, April 7th. TD Cowen increased their target price on Norfolk Southern from $313.00 to $337.00 and gave the company a “buy” rating in a report on Monday, April 27th. Susquehanna increased their target price on Norfolk Southern from $305.00 to $330.00 and gave the company a “neutral” rating in a report on Wednesday, April 22nd. BMO Capital Markets increased their target price on Norfolk Southern from $305.00 to $310.00 and gave the company a “market perform” rating in a report on Monday, April 27th. Finally, Robert W. Baird increased their target price on Norfolk Southern from $315.00 to $330.00 and gave the company a “neutral” rating in a report on Tuesday, April 28th. Six research analysts have rated the stock with a Buy rating and seventeen have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $320.67.

Norfolk Southern Stock Up 0.1%

Shares of NYSE NSC opened at $316.26 on Friday. The stock has a market cap of $71.03 billion, a P/E ratio of 26.64, a PEG ratio of 5.84 and a beta of 1.30. The company has a current ratio of 0.91, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. Norfolk Southern has a 12-month low of $218.05 and a 12-month high of $323.37. The business’s fifty day simple moving average is $299.64 and its 200-day simple moving average is $294.38.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data 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. The business had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.13 billion. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.The company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period last year, the firm earned $2.69 earnings per share. As a group, equities analysts predict that Norfolk Southern will post 12.11 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 20th. Investors 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 dividend payout ratio is 45.49%.

Hedge Funds Weigh In On Norfolk Southern

Several large investors have recently bought and sold shares of NSC. ORG Partners LLC increased its position in shares of Norfolk Southern by 75.0% during the third quarter. ORG Partners LLC now owns 84 shares of the railroad operator’s stock worth $25,000 after purchasing an additional 36 shares in the last quarter. JPL Wealth Management LLC acquired a new stake in shares of Norfolk Southern during the third quarter worth about $25,000. Westside Investment Management Inc. increased its position in shares of Norfolk Southern by 207.1% during the third quarter. Westside Investment Management Inc. now owns 86 shares of the railroad operator’s stock worth $26,000 after purchasing an additional 58 shares in the last quarter. GoalVest Advisory LLC increased its position in shares of Norfolk Southern by 933.3% during the fourth quarter. GoalVest Advisory LLC now owns 93 shares of the railroad operator’s stock worth $27,000 after purchasing an additional 84 shares in the last quarter. Finally, MMA Asset Management LLC acquired a new stake in shares of Norfolk Southern during the third quarter worth about $28,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

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.