Norfolk Southern Corporation (NYSE:NSC) Stock Has Consensus Target Price of $346.94

Shares of Norfolk Southern Corporation (NYSE:NSC) have been assigned an average recommendation of “Hold” from the twenty-one analysts that are covering the firm, MarketBeat reports. Fourteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $348.81.

Several equities research analysts have issued reports on NSC shares. Royal Bank Of Canada increased their price target on Norfolk Southern from $330.00 to $350.00 and gave the stock a “sector perform” rating in a report on Friday. Benchmark reiterated a “hold” rating on shares of Norfolk Southern in a report on Friday, July 24th. BMO Capital Markets boosted their price objective on shares of Norfolk Southern from $310.00 to $355.00 and gave the company a “market perform” rating in a research report on Monday, July 27th. Stephens upgraded Norfolk Southern to a “hold” rating in a report on Wednesday, July 8th. Finally, Susquehanna decreased their target price on shares of Norfolk Southern from $386.00 to $350.00 and set a “neutral” rating for the company in a research report on Friday, October 2nd.

Institutional Trading of Norfolk Southern

Several hedge funds have recently added to or reduced their stakes in NSC. Sovereign Financial Group Inc. increased its holdings in shares of Norfolk Southern by 3.3% during the first quarter. Sovereign Financial Group Inc. now owns 1,108 shares of the railroad operator’s stock worth $318,000 after purchasing an additional 35 shares during the period. Bar Harbor Wealth Management increased its stake in shares of Norfolk Southern by 0.6% in the 1st quarter. Bar Harbor Wealth Management now owns 6,290 shares of the railroad operator’s stock valued at $1,805,000 after purchasing an additional 36 shares during the last quarter. Apollon Financial LLC lifted its position in shares of Norfolk Southern by 4.3% during the 1st quarter. Apollon Financial LLC now owns 881 shares of the railroad operator’s stock worth $253,000 after buying an additional 36 shares during the last quarter. Moss Adams Wealth Advisors LLC raised its stake in Norfolk Southern by 4.6% during the first quarter. Moss Adams Wealth Advisors LLC now owns 827 shares of the railroad operator’s stock worth $237,000 after acquiring an additional 36 shares in the last quarter. Finally, Diversify Advisory Services LLC boosted its position in Norfolk Southern by 1.3% in the third quarter. Diversify Advisory Services LLC now owns 2,824 shares of the railroad operator’s stock valued at $917,000 after buying an additional 36 shares in the last quarter. 75.10% of the stock is owned by institutional investors and hedge funds.

Norfolk Southern Price Performance

Shares of NYSE:NSC opened at $339.88 on Wednesday. Norfolk Southern has a one year low of $277.80 and a one year high of $358.60. The stock has a market cap of $76.34 billion, a price-to-earnings ratio of 28.49 and a beta of 1.29. The company has a 50 day moving average of $326.54 and a 200-day moving average of $314.09.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Thursday, October 22nd. The railroad operator reported $3.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.46 by $0.16. The company had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.48 billion. During the same quarter in the prior year, the business earned $3.30 earnings per share. The firm’s revenue for the quarter was up 13.6% on a year-over-year basis. Equities research analysts anticipate that Norfolk Southern will post 12.77 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Friday, November 6th will be given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, November 6th. Norfolk Southern’s dividend payout ratio (DPR) is presently 45.26%.

About Norfolk Southern

Norfolk Southern Corporation (NYSE:NSC) is a transportation company that operates one of the largest freight railroad networks in the eastern United States. Through its Norfolk Southern Railway subsidiary, the company provides rail transportation and related services across a broad territory spanning portions of the Midwest, South and East Coast, including access to major industrial centers, ports and distribution markets.

Norfolk Southern transports a diverse range of commodities, including intermodal freight, merchandise, automotive products, coal and other energy-related materials.