Morgan Stanley Reaffirms “Underweight” Rating for Norfolk Southern (NYSE:NSC)

Morgan Stanley restated their underweight rating on shares of Norfolk Southern (NYSE:NSCFree Report) in a report issued on Monday, MarketBeat.com reports. They currently have a $175.00 price target on the railroad operator’s stock.

A number of other research analysts have also weighed in on NSC. JPMorgan Chase & Co. lifted their price objective on shares of Norfolk Southern from $240.00 to $275.00 and gave the company an overweight rating in a research note on Tuesday, April 9th. Stifel Nicolaus lifted their price objective on shares of Norfolk Southern from $233.00 to $244.00 and gave the company a hold rating in a research note on Friday, April 12th. Susquehanna reduced their price objective on shares of Norfolk Southern from $265.00 to $245.00 and set a neutral rating for the company in a research note on Tuesday, June 25th. The Goldman Sachs Group boosted their price target on shares of Norfolk Southern from $252.00 to $283.00 and gave the company a buy rating in a research report on Thursday, March 21st. Finally, Wells Fargo & Company reduced their price target on shares of Norfolk Southern from $270.00 to $260.00 and set an overweight rating for the company in a research report on Tuesday, June 25th. One analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $263.61.

Get Our Latest Research Report on Norfolk Southern

Norfolk Southern Trading Up 0.5 %

NYSE:NSC opened at $214.83 on Monday. The company has a current ratio of 0.68, a quick ratio of 0.61 and a debt-to-equity ratio of 1.37. The stock has a market capitalization of $48.53 billion, a PE ratio of 34.59, a price-to-earnings-growth ratio of 2.03 and a beta of 1.32. The firm’s 50 day moving average is $223.35 and its 200 day moving average is $237.98. Norfolk Southern has a 12 month low of $183.09 and a 12 month high of $263.66.

Norfolk Southern (NYSE:NSCGet Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The railroad operator reported $2.49 EPS for the quarter, missing analysts’ consensus estimates of $2.58 by ($0.09). The company had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.05 billion. Norfolk Southern had a return on equity of 19.61% and a net margin of 11.76%. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period last year, the firm posted $3.32 EPS. Sell-side analysts expect that Norfolk Southern will post 11.82 earnings per share for the current year.

Norfolk Southern Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Friday, May 3rd were given a $1.35 dividend. The ex-dividend date of this dividend was Thursday, May 2nd. This represents a $5.40 annualized dividend and a yield of 2.51%. Norfolk Southern’s dividend payout ratio (DPR) is presently 86.96%.

Insiders Place Their Bets

In other Norfolk Southern news, Director Sameh Fahmy purchased 2,000 shares of the stock in a transaction on Friday, June 14th. The stock was acquired at an average cost of $219.25 per share, with a total value of $438,500.00. Following the completion of the purchase, the director now directly owns 7,000 shares of the company’s stock, valued at approximately $1,534,750. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Norfolk Southern news, Director Sameh Fahmy purchased 2,000 shares of the stock in a transaction on Friday, June 14th. The stock was acquired at an average cost of $219.25 per share, with a total value of $438,500.00. Following the completion of the purchase, the director now directly owns 7,000 shares of the company’s stock, valued at approximately $1,534,750. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Claude E. Elkins sold 8,329 shares of the business’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $228.43, for a total transaction of $1,902,593.47. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Norfolk Southern

Several hedge funds and other institutional investors have recently modified their holdings of NSC. Norges Bank bought a new position in shares of Norfolk Southern during the fourth quarter valued at about $556,797,000. Boston Partners increased its position in shares of Norfolk Southern by 157.1% during the first quarter. Boston Partners now owns 2,890,665 shares of the railroad operator’s stock valued at $735,749,000 after buying an additional 1,766,135 shares during the period. American Century Companies Inc. increased its position in shares of Norfolk Southern by 69.0% during the third quarter. American Century Companies Inc. now owns 2,723,398 shares of the railroad operator’s stock valued at $536,319,000 after buying an additional 1,112,261 shares during the period. Vanguard Group Inc. increased its position in shares of Norfolk Southern by 5.9% during the first quarter. Vanguard Group Inc. now owns 19,623,690 shares of the railroad operator’s stock valued at $5,001,490,000 after buying an additional 1,088,072 shares during the period. Finally, Stifel Financial Corp increased its position in shares of Norfolk Southern by 600.3% during the fourth quarter. Stifel Financial Corp now owns 1,021,312 shares of the railroad operator’s stock valued at $241,421,000 after buying an additional 875,473 shares during the period. 75.10% of the stock is owned by institutional investors.

Norfolk Southern Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Norfolk Southern (NYSE:NSC)

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