Norfolk Southern (NYSE:NSC) Given New $270.00 Price Target at Loop Capital

Norfolk Southern (NYSE:NSC) had its price objective upped by Loop Capital from $261.00 to $270.00 in a research note published on Thursday morning, Benzinga reports. They currently have a buy rating on the railroad operator’s stock.

NSC has been the topic of a number of other reports. Morgan Stanley cut shares of Norfolk Southern from an equal weight rating to an underweight rating and reduced their target price for the stock from $185.00 to $175.00 in a research report on Monday, January 29th. TheStreet upgraded Norfolk Southern from a c+ rating to a b- rating in a research note on Thursday, December 21st. Susquehanna cut their price target on Norfolk Southern from $270.00 to $265.00 and set a neutral rating on the stock in a research note on Wednesday, April 10th. Royal Bank of Canada reissued a sector perform rating and issued a $270.00 price target on shares of Norfolk Southern in a report on Wednesday, April 10th. Finally, TD Cowen lifted their price objective on Norfolk Southern from $236.00 to $253.00 and gave the stock a market perform rating in a report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $262.74.

Norfolk Southern Stock Up 0.3 %

Shares of Norfolk Southern stock opened at $240.12 on Thursday. The company has a fifty day moving average price of $253.23 and a 200 day moving average price of $230.45. The company has a current ratio of 1.24, a quick ratio of 1.14 and a debt-to-equity ratio of 1.34. Norfolk Southern has a twelve month low of $183.09 and a twelve month high of $263.66. The stock has a market cap of $59.12 billion, a price-to-earnings ratio of 29.94, a price-to-earnings-growth ratio of 3.25 and a beta of 1.30.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Friday, January 26th. The railroad operator reported $2.83 earnings per share for the quarter, missing the consensus estimate of $2.87 by ($0.04). The company had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.09 billion. Norfolk Southern had a return on equity of 21.06% and a net margin of 15.03%. Norfolk Southern’s quarterly revenue was down 4.2% on a year-over-year basis. During the same period in the previous year, the company earned $3.42 EPS. Equities research analysts forecast that Norfolk Southern will post 11.98 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 20th. Investors of record on Friday, February 2nd were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.25%. The ex-dividend date was Thursday, February 1st. Norfolk Southern’s dividend payout ratio (DPR) is 67.33%.

Hedge Funds Weigh In On Norfolk Southern

Several institutional investors have recently modified their holdings of NSC. Tradewinds Capital Management LLC acquired a new position in Norfolk Southern during the 1st quarter valued at about $510,000. SeaCrest Wealth Management LLC increased its position in Norfolk Southern by 2.1% in the 1st quarter. SeaCrest Wealth Management LLC now owns 2,501 shares of the railroad operator’s stock valued at $637,000 after acquiring an additional 52 shares during the period. Oak Thistle LLC acquired a new stake in Norfolk Southern in the 1st quarter valued at approximately $398,000. Miracle Mile Advisors LLC raised its stake in Norfolk Southern by 6.0% during the 1st quarter. Miracle Mile Advisors LLC now owns 1,322 shares of the railroad operator’s stock valued at $337,000 after acquiring an additional 75 shares in the last quarter. Finally, BKM Wealth Management LLC boosted its position in Norfolk Southern by 10.5% during the 1st quarter. BKM Wealth Management LLC now owns 6,318 shares of the railroad operator’s stock worth $1,610,000 after acquiring an additional 599 shares during the period. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Company Profile

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.