Norfolk Southern (NYSE:NSC) Price Target Raised to $276.00 at Evercore ISI

Norfolk Southern (NYSE:NSC) had its target price raised by Evercore ISI from $265.00 to $276.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an outperform rating on the railroad operator’s stock.

Other equities research analysts have also recently issued reports about the stock. Sanford C. Bernstein cut their price objective on shares of Norfolk Southern from $288.00 to $285.00 and set an outperform rating for the company in a research report on Monday, July 8th. Susquehanna raised their price objective on shares of Norfolk Southern from $245.00 to $255.00 and gave the company a neutral rating in a research note on Friday, July 26th. Stifel Nicolaus lifted their price target on shares of Norfolk Southern from $239.00 to $241.00 and gave the stock a hold rating in a research note on Friday, July 26th. 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 report on Friday, July 26th. Finally, Benchmark lifted their target price on shares of Norfolk Southern from $266.00 to $270.00 and gave the company a buy rating in a report on Monday, July 29th. 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. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $264.89.

Norfolk Southern Stock Performance

Shares of NYSE NSC opened at $246.47 on Wednesday. The company’s fifty day moving average price is $244.95 and its 200 day moving average price is $237.42. Norfolk Southern has a 1 year low of $183.09 and a 1 year high of $263.66. The company has a market capitalization of $55.68 billion, a PE ratio of 39.69, a price-to-earnings-growth ratio of 2.40 and a beta of 1.31. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.54 and a current ratio of 0.63.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Thursday, July 25th. The railroad operator reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.86 by $0.20. The business had revenue of $3.04 billion for 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 was up 2.1% compared to the same quarter last year. During the same period last year, the firm posted $2.95 earnings per share. On average, research analysts predict that Norfolk Southern will post 11.8 earnings per share for the current year.

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Friday, August 2nd were paid a $1.35 dividend. The ex-dividend date was Friday, August 2nd. This represents a $5.40 annualized dividend and a yield of 2.19%. Norfolk Southern’s dividend payout ratio is currently 86.96%.

Insiders Place Their Bets

In other Norfolk Southern news, EVP Nabanita C. Nag sold 355 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $249.38, for a total transaction of $88,529.90. Following the sale, the executive vice president now directly owns 1,488 shares in the company, valued at approximately $371,077.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Norfolk Southern news, Director Richard H. Anderson acquired 2,000 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were acquired at an average cost of $247.48 per share, for a total transaction of $494,960.00. Following the transaction, the director now directly owns 3,000 shares of the company’s stock, valued at $742,440. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Nabanita C. Nag sold 355 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $249.38, for a total transaction of $88,529.90. Following the completion of the transaction, the executive vice president now directly owns 1,488 shares of the company’s stock, valued at approximately $371,077.44. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in NSC. Raleigh Capital Management Inc. increased its stake in shares of Norfolk Southern by 4.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 956 shares of the railroad operator’s stock valued at $226,000 after acquiring an additional 40 shares during the last quarter. Hall Capital Management Co. Inc. boosted its holdings in Norfolk Southern by 2.8% in the 2nd quarter. Hall Capital Management Co. Inc. now owns 1,516 shares of the railroad operator’s stock worth $325,000 after acquiring an additional 42 shares during the period. Blue Chip Partners LLC boosted its holdings in Norfolk Southern by 0.5% in the 2nd quarter. Blue Chip Partners LLC now owns 7,716 shares of the railroad operator’s stock worth $1,656,000 after acquiring an additional 42 shares during the period. Stephens Consulting LLC boosted its holdings in Norfolk Southern by 12.4% in the 2nd quarter. Stephens Consulting LLC now owns 381 shares of the railroad operator’s stock worth $82,000 after acquiring an additional 42 shares during the period. Finally, Indiana Trust & Investment Management CO boosted its stake in shares of Norfolk Southern by 3.0% during the 1st quarter. Indiana Trust & Investment Management CO now owns 1,477 shares of the railroad operator’s stock valued at $376,000 after buying an additional 43 shares during the last quarter. 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.