Norfolk Southern (NYSE:NSC) Shares Cross Below 50-Day Moving Average – What’s Next?

Norfolk Southern Corporation (NYSE:NSC) shares passed below its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $324.86 and traded as low as $319.69. Norfolk Southern shares last traded at $320.0640, with a volume of 1,280,254 shares traded.

Analyst Ratings Changes

A number of equities research analysts recently commented on NSC shares. Citigroup increased their price objective on shares of Norfolk Southern from $347.00 to $349.00 and gave the company a “neutral” rating in a research note on Friday, October 23rd. Royal Bank Of Canada increased their target price on Norfolk Southern from $330.00 to $350.00 and gave the company a “sector perform” rating in a research note on Friday, October 23rd. Benchmark restated a “hold” rating on shares of Norfolk Southern in a research report on Friday, July 24th. Barclays upped their target price on shares of Norfolk Southern from $360.00 to $400.00 and gave the stock an “overweight” rating in a research note on Friday, July 24th. Finally, Evercore increased their price target on shares of Norfolk Southern from $358.00 to $360.00 in a research report on Wednesday, September 30th. Seven equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $348.81.

Norfolk Southern Price Performance

The company’s 50-day moving average is $324.86 and its 200-day moving average is $316.10. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.81. The firm has a market capitalization of $71.89 billion, a price-to-earnings ratio of 26.83, a PEG ratio of 5.17 and a beta of 1.20.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Thursday, October 22nd. The railroad operator reported $3.62 EPS for the quarter, topping the consensus estimate of $3.46 by $0.16. The company had revenue of $3.53 billion during the quarter, compared to analysts’ expectations of $3.48 billion. Norfolk Southern had a net margin of 20.70% and a return on equity of 18.22%. Norfolk Southern’s revenue was up 13.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.30 EPS. On average, research analysts expect that Norfolk Southern Corporation will post 12.80 earnings per share for the current year.

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Friday, November 6th 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, November 6th. Norfolk Southern’s dividend payout ratio is presently 45.26%.

Hedge Funds Weigh In On Norfolk Southern

Institutional investors have recently made changes to their positions in the stock. Edmond DE Rothschild Holding S.A. bought a new stake in shares of Norfolk Southern during the second quarter valued at approximately $26,000. Meeder Asset Management Inc. bought a new position in shares of Norfolk Southern during the second quarter worth approximately $27,000. North Point Portfolio Managers Corp OH bought a new position in Norfolk Southern during the 3rd quarter worth $28,000. Elevation Wealth Partners LLC increased its holdings in Norfolk Southern by 2,125.0% during the 3rd quarter. Elevation Wealth Partners LLC now owns 89 shares of the railroad operator’s stock worth $28,000 after purchasing an additional 85 shares in the last quarter. Finally, Comprehensive Financial Planning Inc. PA bought a new position in shares of Norfolk Southern in the second quarter worth $31,000. 75.10% of the stock is owned by institutional investors and hedge funds.

About Norfolk Southern

Norfolk Southern Corporation is a freight transportation company that operates a major railroad network across the eastern United States. Its rail services connect businesses, ports and communities, and link with other railroads to move goods across North America.

The company transports a broad range of products, including coal, chemicals, agricultural goods, automotive vehicles and parts, metals, construction materials and consumer products. Its services include intermodal transportation, which combines rail with truck or container shipping, as well as rail freight and logistics solutions.

Norfolk Southern was formed in 1982 through the merger of the Norfolk and Western Railway and the Southern Railway.