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

Norfolk Southern (NYSE:NSC) had its price objective lifted by Susquehanna from $255.00 to $280.00 in a research report report published on Wednesday, Benzinga reports. Susquehanna currently has a neutral rating on the railroad operator’s stock.

Several other equities analysts have also issued reports on the stock. Stifel Nicolaus boosted their target price on shares of Norfolk Southern from $239.00 to $241.00 and gave the company a hold rating in a report on Friday, July 26th. Morgan Stanley reissued an underweight rating and issued a $175.00 price objective on shares of Norfolk Southern in a research note on Monday, July 8th. Evercore ISI raised their target price on Norfolk Southern from $265.00 to $276.00 and gave the stock an outperform rating in a research note on Wednesday, September 25th. Royal Bank of Canada boosted their price target on Norfolk Southern from $267.00 to $272.00 and gave the company an outperform rating in a research note on Monday, September 30th. Finally, Wells Fargo & Company raised their price objective on shares of Norfolk Southern from $260.00 to $270.00 and gave the stock an overweight rating in a research report on Friday, July 26th. One investment 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 company has a consensus rating of Moderate Buy and a consensus price target of $266.56.

Norfolk Southern Trading Up 1.2 %

Shares of NSC stock opened at $247.92 on Wednesday. Norfolk Southern has a 1-year low of $183.09 and a 1-year high of $263.66. The company has a current ratio of 0.63, a quick ratio of 0.54 and a debt-to-equity ratio of 1.30. The stock has a market cap of $56.01 billion, a price-to-earnings ratio of 39.92, a PEG ratio of 2.40 and a beta of 1.31. The stock has a 50-day moving average of $246.80 and a 200-day moving average of $237.18.

Norfolk Southern (NYSE:NSC) last released its earnings results on Thursday, July 25th. The railroad operator reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.86 by $0.20. The business had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.04 billion. Norfolk Southern had a net margin of 14.85% and a return on equity of 19.64%. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.95 EPS. On average, equities research analysts forecast that Norfolk Southern will post 11.8 earnings per share for the current year.

Norfolk Southern Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Friday, August 2nd were given a $1.35 dividend. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $5.40 annualized dividend and a yield of 2.18%. Norfolk Southern’s payout ratio is 86.96%.

Insiders Place Their Bets

In other news, EVP Nabanita C. Nag sold 355 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $249.38, for a total value of $88,529.90. Following the transaction, the executive vice president now owns 1,488 shares in the company, valued at $371,077.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Nabanita C. Nag sold 355 shares of the company’s stock in a transaction on 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 sale, the executive vice president now owns 1,488 shares in the company, valued at $371,077.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Alan H. Shaw sold 51,325 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $255.98, for a total transaction of $13,138,173.50. Following the transaction, the chief executive officer now owns 35,045 shares in the company, valued at approximately $8,970,819.10. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

Institutional Trading of Norfolk Southern

Hedge funds have recently bought and sold shares of the business. Cedar Wealth Management LLC purchased a new stake in shares of Norfolk Southern during the 1st quarter valued at $27,000. 1620 Investment Advisors Inc. purchased a new stake in Norfolk Southern during the second quarter worth about $27,000. Financial Connections Group Inc. bought a new stake in Norfolk Southern in the second quarter worth about $31,000. HWG Holdings LP purchased a new position in Norfolk Southern in the second quarter valued at about $31,000. Finally, Rise Advisors LLC bought a new position in shares of Norfolk Southern during the 1st quarter valued at approximately $34,000. 75.10% of the stock is currently owned by institutional investors.

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.