Royal Bank Of Canada Cuts Norfolk Southern (NYSE:NSC) Price Target to $315.00

Norfolk Southern (NYSE:NSC) had its price objective decreased by Royal Bank Of Canada from $320.00 to $315.00 in a research note published on Friday, Marketbeat reports. Royal Bank Of Canada currently has a sector perform rating on the railroad operator’s stock.

Other research analysts have also recently issued reports about the company. Robert W. Baird raised their target price on Norfolk Southern from $255.00 to $300.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 22nd. Sanford C. Bernstein raised their target price on Norfolk Southern from $295.00 to $305.00 and gave the stock an “outperform” rating in a research report on Monday, July 21st. Jefferies Financial Group reaffirmed a “hold” rating and issued a $300.00 target price on shares of Norfolk Southern in a research report on Friday, July 25th. Loop Capital raised their target price on Norfolk Southern from $235.00 to $278.00 and gave the stock a “hold” rating in a research report on Tuesday, September 16th. Finally, Susquehanna lifted their price objective on Norfolk Southern from $284.00 to $295.00 and gave the company a “neutral” rating in a report on Thursday, September 25th. Seven analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $299.70.

Norfolk Southern Trading Down 1.2%

Shares of Norfolk Southern stock opened at $280.29 on Friday. The company has a market cap of $62.96 billion, a price-to-earnings ratio of 21.38, a PEG ratio of 2.53 and a beta of 1.33. Norfolk Southern has a 1 year low of $201.63 and a 1 year high of $302.24. The company’s fifty day simple moving average is $285.78 and its 200-day simple moving average is $262.87. The company has a current ratio of 0.86, a quick ratio of 0.78 and a debt-to-equity ratio of 1.09.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Thursday, October 23rd. The railroad operator reported $3.30 EPS for the quarter, missing the consensus estimate of $3.31 by ($0.01). The firm had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.11 billion. Norfolk Southern had a return on equity of 18.93% and a net margin of 24.22%.The firm’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period last year, the business earned $3.25 earnings per share. As a group, sell-side analysts expect that Norfolk Southern will post 13 EPS for the current year.

Norfolk Southern Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Friday, November 7th will be given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, November 7th. Norfolk Southern’s payout ratio is presently 41.19%.

Hedge Funds Weigh In On Norfolk Southern

Institutional investors have recently modified their holdings of the stock. ORG Partners LLC grew its position in shares of Norfolk Southern by 75.0% during the 3rd quarter. ORG Partners LLC now owns 84 shares of the railroad operator’s stock worth $25,000 after buying an additional 36 shares during the period. BNP Paribas acquired a new position in shares of Norfolk Southern in the 2nd quarter valued at approximately $26,000. Highline Wealth Partners LLC grew its position in shares of Norfolk Southern by 68.9% in the 3rd quarter. Highline Wealth Partners LLC now owns 103 shares of the railroad operator’s stock valued at $31,000 after purchasing an additional 42 shares during the period. True Wealth Design LLC grew its position in shares of Norfolk Southern by 423.8% in the 2nd quarter. True Wealth Design LLC now owns 110 shares of the railroad operator’s stock valued at $28,000 after purchasing an additional 89 shares during the period. Finally, WPG Advisers LLC acquired a new position in shares of Norfolk Southern in the 1st quarter valued at approximately $27,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

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.