Susquehanna Boosts Norfolk Southern (NYSE:NSC) Price Target to $280.00

by · The Cerbat Gem

Norfolk Southern (NYSE:NSC – Free Report) had its price target hoisted by Susquehanna from $255.00 to $280.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a neutral rating on the railroad operator’s stock.

NSC has been the subject of several other research reports. TD Cowen raised their price target on Norfolk Southern from $251.00 to $253.00 and gave the company a hold rating in a report on Friday, July 26th. Sanford C. Bernstein cut their target price on shares of Norfolk Southern from $288.00 to $285.00 and set an outperform rating for the company in a research note on Monday, July 8th. Evercore ISI upped their price target on shares of Norfolk Southern from $265.00 to $276.00 and gave the company an outperform rating in a research note on Wednesday, September 25th. Morgan Stanley restated an underweight rating and set a $175.00 price objective on shares of Norfolk Southern in a research report on Monday, July 8th. Finally, Wells Fargo & Company upped their target price on Norfolk Southern from $260.00 to $270.00 and gave the company an overweight rating in a research report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Norfolk Southern presently has an average rating of Moderate Buy and an average price target of $266.56.

Get Our Latest Research Report on Norfolk Southern

Norfolk Southern Stock Performance

Shares of NSC stock opened at $247.92 on Wednesday. The company has a fifty day moving average price of $246.80 and a two-hundred day moving average price of $237.18. Norfolk Southern has a one year low of $183.09 and a one year high of $263.66. The stock has a market cap of $56.01 billion, a P/E ratio of 39.92, a P/E/G ratio of 2.40 and a beta of 1.31. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.63 and a quick ratio of 0.54.

Norfolk Southern (NYSE:NSC – Get Free Report) last posted its quarterly earnings results on Thursday, July 25th. The railroad operator reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $2.86 by $0.20. The business had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.04 billion. Norfolk Southern had a return on equity of 19.64% and a net margin of 14.85%. Norfolk Southern’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the company posted $2.95 earnings per share. As a group, equities analysts predict that Norfolk Southern will post 11.8 EPS for the current year.

Norfolk Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Friday, August 2nd were paid a dividend of $1.35 per share. The ex-dividend date was Friday, August 2nd. This represents a $5.40 dividend on an annualized basis and a yield of 2.18%. Norfolk Southern’s payout ratio is 86.96%.

Insider Activity

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

Institutional Trading of Norfolk Southern

A number of hedge funds have recently added to or reduced their stakes in the stock. State of Tennessee Treasury Department boosted its holdings in shares of Norfolk Southern by 209.3% during the 4th quarter. State of Tennessee Treasury Department now owns 111,914 shares of the railroad operator’s stock valued at $26,454,000 after acquiring an additional 75,729 shares in the last quarter. Seven Eight Capital LP bought a new position in Norfolk Southern in the second quarter valued at about $1,676,000. Manning & Napier Advisors LLC acquired a new stake in shares of Norfolk Southern during the second quarter valued at about $13,627,000. Buckingham Strategic Wealth LLC grew its holdings in shares of Norfolk Southern by 7.0% during the fourth quarter. Buckingham Strategic Wealth LLC now owns 96,384 shares of the railroad operator’s stock worth $22,783,000 after purchasing an additional 6,306 shares during the last quarter. Finally, Broderick Brian C acquired a new position in shares of Norfolk Southern in the first quarter valued at approximately $956,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

About Norfolk Southern

(Get Free Report)

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.

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