Norfolk Southern (NYSE:NSC) PT Lowered to $274.00 at Evercore ISI

Norfolk Southern (NYSE:NSC) had its target price reduced by Evercore ISI from $276.00 to $274.00 in a research report report published on Wednesday, Benzinga reports. They currently have an outperform rating on the railroad operator’s stock.

Other equities analysts have also recently issued research reports about the company. Wells Fargo & Company lifted their price target on Norfolk Southern from $270.00 to $280.00 and gave the stock an “overweight” rating in a research note on Wednesday. TD Cowen lifted their target price on Norfolk Southern from $251.00 to $253.00 and gave the company a “hold” rating in a research note on Friday, July 26th. UBS Group lifted their target price on Norfolk Southern from $289.00 to $309.00 and gave the company a “buy” rating in a research note on Wednesday. Benchmark lifted their target price on Norfolk Southern from $270.00 to $285.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Sanford C. Bernstein lifted their target price on Norfolk Southern from $285.00 to $286.00 and gave the company an “outperform” rating in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $274.16.

Norfolk Southern Trading Down 0.9 %

Shares of NSC opened at $251.09 on Wednesday. The business’s 50-day moving average price is $249.01 and its 200 day moving average price is $236.99. The stock has a market capitalization of $56.77 billion, a P/E ratio of 23.58, a P/E/G ratio of 2.48 and a beta of 1.31. Norfolk Southern has a 1-year low of $183.76 and a 1-year high of $263.66. The company has a current ratio of 0.73, a quick ratio of 0.54 and a debt-to-equity ratio of 1.21.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share for the quarter, topping analysts’ consensus estimates of $3.11 by $0.14. The firm had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.08 billion. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. Norfolk Southern’s revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the business posted $2.65 EPS. Analysts expect that Norfolk Southern will post 11.78 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Friday, November 1st will be issued a $1.35 dividend. The ex-dividend date is Friday, November 1st. This represents a $5.40 annualized dividend and a yield of 2.15%. Norfolk Southern’s dividend payout ratio (DPR) is currently 50.70%.

Insiders Place Their Bets

In other Norfolk Southern news, EVP Nabanita C. Nag sold 355 shares of Norfolk Southern stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $249.38, for a total value of $88,529.90. Following the transaction, the executive vice president now directly owns 1,488 shares of the company’s stock, valued at $371,077.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Sameh Fahmy acquired 700 shares of the stock in a transaction dated Thursday, August 1st. The shares were acquired at an average cost of $245.15 per share, for a total transaction of $171,605.00. Following the completion of the transaction, the director now owns 7,700 shares in the company, valued at approximately $1,887,655. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Nabanita C. Nag sold 355 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $249.38, for a total value of $88,529.90. Following the sale, the executive vice president now owns 1,488 shares in the company, valued at approximately $371,077.44. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have acquired a total of 3,700 shares of company stock valued at $921,565 in the last three months. Company insiders own 0.19% of the company’s stock.

Institutional Trading of Norfolk Southern

A number of institutional investors and hedge funds have recently modified their holdings of NSC. Highline Wealth Partners LLC bought a new stake in shares of Norfolk Southern during the third quarter valued at approximately $25,000. Cedar Wealth Management LLC bought a new stake in shares of Norfolk Southern during the first quarter valued at approximately $27,000. 1620 Investment Advisors Inc. bought a new stake in Norfolk Southern in the second quarter valued at $27,000. Financial Connections Group Inc. bought a new stake in Norfolk Southern in the second quarter valued at $31,000. Finally, HWG Holdings LP bought a new stake in Norfolk Southern in the second quarter valued at $31,000. 75.10% of the stock is currently owned by institutional investors.

About Norfolk Southern

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods in the United States. The company transports agriculture, forest, and consumer products comprising soybeans, wheat, corn, fertilizers, livestock and poultry feed, food products, food oils, flour, sweeteners, ethanol, lumber and wood products, pulp board and paper products, wood fibers, wood pulp, beverages, and canned goods; chemicals consist of sulfur and related chemicals, petroleum products comprising crude oil, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, sand, and natural gas liquids; metals and construction materials, such as steel, aluminum products, machinery, scrap metals, cement, aggregates, minerals, clay, transportation equipment, and military-related products; and automotive, including finished motor vehicles and automotive parts, as well as coal.