Norfolk Southern (NYSE:NSC) Price Target Increased to $272.00 by Analysts at Royal Bank of Canada

Norfolk Southern (NYSE:NSC) had its price target boosted by Royal Bank of Canada from $267.00 to $272.00 in a research report sent to investors on Monday, Benzinga reports. The brokerage currently has an outperform rating on the railroad operator’s stock.

Several other brokerages have also recently issued reports on NSC. Stifel Nicolaus increased their price target on shares of Norfolk Southern from $239.00 to $241.00 and gave the stock a hold rating in a research report on Friday, July 26th. Benchmark increased their price target on shares of Norfolk Southern from $266.00 to $270.00 and gave the stock a buy rating in a research report on Monday, July 29th. TD Cowen upped their target price on shares of Norfolk Southern from $251.00 to $253.00 and gave the stock a hold rating in a research note on Friday, July 26th. Wells Fargo & Company upped their target price on shares of Norfolk Southern from $260.00 to $270.00 and gave the stock an overweight rating in a research note on Friday, July 26th. Finally, Morgan Stanley restated an underweight rating and set a $175.00 target price on shares of Norfolk Southern in a research note on Monday, July 8th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $265.17.

Norfolk Southern Stock Up 0.8 %

Shares of NSC opened at $248.50 on Monday. The stock has a market capitalization of $56.14 billion, a PE ratio of 40.02, a P/E/G ratio of 2.40 and a beta of 1.31. Norfolk Southern has a 1 year low of $183.09 and a 1 year high of $263.66. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.54 and a current ratio of 0.63. The company’s 50-day simple moving average is $245.36 and its 200-day simple moving average is $237.17.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Thursday, July 25th. The railroad operator reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.86 by $0.20. The business had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $3.04 billion. Norfolk Southern had a net margin of 14.85% and a return on equity of 19.64%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.95 earnings per share. Analysts forecast that Norfolk Southern will post 11.8 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Friday, August 2nd were given 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 dividend yield of 2.17%. Norfolk Southern’s dividend payout ratio (DPR) is presently 86.96%.

Insider Transactions at Norfolk Southern

In other Norfolk Southern news, Director Sameh Fahmy bought 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. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Richard H. Anderson purchased 2,000 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was purchased at an average cost of $247.48 per share, with a total value of $494,960.00. Following the completion of the acquisition, the director now directly owns 3,000 shares in the company, valued at $742,440. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 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, with a total value of $171,605.00. Following the completion of the acquisition, the director now owns 7,700 shares of the company’s stock, valued at $1,887,655. The disclosure for this purchase can be found here. Insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Norfolk Southern

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Norfolk Southern in the second quarter valued at $11,024,000. Heritage Wealth Management Inc. acquired a new stake in Norfolk Southern in the second quarter valued at $662,000. Sanctuary Advisors LLC acquired a new stake in Norfolk Southern in the second quarter valued at $9,937,000. Creekside Partners acquired a new stake in Norfolk Southern in the second quarter valued at $211,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in Norfolk Southern in the second quarter valued at $39,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

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.