Norfolk Southern Corporation (NYSE:NSC) Stock Has Average Target Price of $350.50 According to Brokerages

Norfolk Southern Corporation (NYSE:NSC) has been given an average recommendation of “Hold” by the twenty-one research firms that are presently covering the firm, Marketbeat.com reports. Fourteen analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $350.50.

A number of equities research analysts have weighed in on NSC shares. Citigroup boosted their target price on shares of Norfolk Southern from $351.00 to $376.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Stephens raised shares of Norfolk Southern to a “hold” rating in a research report on Wednesday, July 8th. Robert W. Baird upped their price objective on Norfolk Southern from $360.00 to $377.00 and gave the stock a “neutral” rating in a research note on Monday, July 27th. Evercore set a $358.00 target price on Norfolk Southern in a report on Thursday, July 23rd. Finally, Royal Bank Of Canada reduced their target price on shares of Norfolk Southern from $360.00 to $330.00 and set a “sector perform” rating for the company in a report on Thursday, September 24th.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Louisiana State Employees Retirement System bought a new stake in shares of Norfolk Southern in the 1st quarter worth about $3,272,000. O Shaughnessy Asset Management LLC grew its holdings in Norfolk Southern by 9.8% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 43,408 shares of the railroad operator’s stock valued at $12,533,000 after purchasing an additional 3,887 shares during the last quarter. B. Metzler seel. Sohn & Co. AG bought a new position in Norfolk Southern during the 2nd quarter valued at about $3,669,000. SCS Capital Management LLC purchased a new stake in Norfolk Southern in the 2nd quarter worth about $13,837,000. Finally, Focus Partners Advisor Solutions LLC purchased a new stake in Norfolk Southern in the 2nd quarter worth about $1,376,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Price Performance

Shares of NYSE:NSC opened at $313.18 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.83 and a quick ratio of 0.73. The company has a market capitalization of $70.34 billion, a PE ratio of 26.72, a PEG ratio of 4.65 and a beta of 1.27. Norfolk Southern has a 1-year low of $277.80 and a 1-year high of $358.60. The business has a fifty day moving average price of $333.18 and a 200-day moving average price of $316.33.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Thursday, July 23rd. The railroad operator reported $3.52 EPS for the quarter, beating analysts’ consensus estimates of $3.32 by $0.20. Norfolk Southern had a net margin of 21.02% and a return on equity of 18.21%. The firm had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.38 billion. During the same quarter in the prior year, the company posted $3.29 earnings per share. The business’s revenue for the quarter was up 12.5% on a year-over-year basis. As a group, equities analysts expect that Norfolk Southern will post 12.87 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Friday, August 7th were paid a $1.35 dividend. The ex-dividend date of this dividend was Friday, August 7th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.7%. Norfolk Southern’s dividend payout ratio is 46.08%.

About Norfolk Southern

Norfolk Southern Corporation (NYSE: NSC) is a transportation company that operates one of the largest rail networks in the eastern United States. Through its principal subsidiary, Norfolk Southern Railway, the company provides freight rail transportation and related services for industrial, agricultural and consumer markets.

Norfolk Southern’s network serves 22 states and the District of Columbia, connecting major ports, manufacturing centers and distribution hubs across the East Coast and the Midwest.