Norfolk Southern (NYSE:NSC) Stock Gets Price Target Cut from Citigroup

Norfolk Southern (NYSE:NSC) had its price target lowered by Citigroup from $376.00 to $347.00 in a research report released on Wednesday,Benzinga reports. The firm currently has a neutral rating on the railroad operator’s stock.

NSC has been the subject of a number of other research reports. Wells Fargo & Company upped their price objective on Norfolk Southern from $365.00 to $385.00 and gave the company an “overweight” rating in a research report on Friday, July 24th. Weiss Ratings cut Norfolk Southern from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, September 25th. Robert W. Baird boosted their price target on Norfolk Southern from $360.00 to $377.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. TD Cowen upped their price target on shares of Norfolk Southern from $337.00 to $376.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Finally, UBS Group reiterated a “neutral” rating and issued a $363.00 price objective on shares of Norfolk Southern in a research note on Friday, July 24th. Seven research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. Based on data from MarketBeat.com, Norfolk Southern presently has a consensus rating of “Hold” and a consensus price target of $346.94.

Norfolk Southern Trading Up 0.2%

NYSE:NSC opened at $317.69 on Wednesday. The company has a market cap of $71.36 billion, a PE ratio of 27.11, a price-to-earnings-growth ratio of 4.75 and a beta of 1.29. The company has a current ratio of 0.83, a quick ratio of 0.73 and a debt-to-equity ratio of 0.98. The company has a 50 day simple moving average of $328.76 and a two-hundred day simple moving average of $317.79. Norfolk Southern has a 12 month low of $277.80 and a 12 month high of $358.60.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share for the quarter, beating the consensus estimate of $3.32 by $0.20. The firm had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.38 billion. Norfolk Southern had a return on equity of 18.21% and a net margin of 21.02%. The company’s revenue was up 12.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.29 EPS. Research analysts forecast that Norfolk Southern will post 12.74 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Friday, August 7th were given a dividend of $1.35 per share. The ex-dividend date was Friday, August 7th. This represents a $5.40 annualized dividend and a yield of 1.7%. Norfolk Southern’s payout ratio is 46.08%.

Institutional Trading of Norfolk Southern

Hedge funds have recently bought and sold shares of the stock. Gilpin Wealth Management LLC purchased a new stake in Norfolk Southern in the third quarter worth about $93,000. Wedmont Private Capital lifted its position in shares of Norfolk Southern by 93.9% during the 3rd quarter. Wedmont Private Capital now owns 8,296 shares of the railroad operator’s stock valued at $2,630,000 after buying an additional 4,017 shares in the last quarter. LifeGoal Investments LLC lifted its position in shares of Norfolk Southern by 38.7% during the 3rd quarter. LifeGoal Investments LLC now owns 1,320 shares of the railroad operator’s stock valued at $408,000 after buying an additional 368 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Norfolk Southern by 8.3% during the 3rd quarter. GAMMA Investing LLC now owns 7,718 shares of the railroad operator’s stock valued at $2,385,000 after acquiring an additional 594 shares during the period. Finally, Farther Finance Advisors LLC grew its stake in shares of Norfolk Southern by 13.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 18,765 shares of the railroad operator’s stock valued at $5,798,000 after acquiring an additional 2,185 shares during the period. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Company Profile

Norfolk Southern Corporation (NYSE: NSC) is a transportation company that operates one of the largest rail networks in the eastern United States. Through its principal subsidiary, Norfolk Southern Railway, the company provides freight rail transportation and related services for industrial, agricultural and consumer markets.

Norfolk Southern’s network serves 22 states and the District of Columbia, connecting major ports, manufacturing centers and distribution hubs across the East Coast and the Midwest.