Norfolk Southern (NYSE:NSC) Price Target Raised to $290.00 at Bank of America

Norfolk Southern (NYSE:NSC - Free Report) had its price objective lifted by Bank of America from $280.00 to $290.00 in a report released on Wednesday,Benzinga reports. They currently have a buy rating on the railroad operator's stock.

A number of other research firms have also weighed in on NSC. Evercore ISI dropped their price target on shares of Norfolk Southern from $284.00 to $269.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. BMO Capital Markets reissued a "market perform" rating and set a $255.00 target price on shares of Norfolk Southern in a research report on Thursday, April 24th. UBS Group upped their target price on Norfolk Southern from $275.00 to $279.00 and gave the company a "buy" rating in a report on Friday, May 30th. Robert W. Baird started coverage on Norfolk Southern in a research report on Tuesday. They set a "neutral" rating and a $255.00 price target for the company. Finally, The Goldman Sachs Group reissued a "neutral" rating and issued a $278.00 price objective on shares of Norfolk Southern in a research report on Monday, June 2nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Norfolk Southern presently has an average rating of "Moderate Buy" and a consensus target price of $267.48.

Norfolk Southern Trading Down 0.2%

NYSE:NSC traded down $0.42 during trading hours on Wednesday, hitting $261.96. 2,002,649 shares of the company were exchanged, compared to its average volume of 1,234,321. The stock has a market capitalization of $59.06 billion, a price-to-earnings ratio of 17.89, a price-to-earnings-growth ratio of 2.01 and a beta of 1.31. Norfolk Southern has a one year low of $201.63 and a one year high of $277.60. The company has a current ratio of 0.78, a quick ratio of 0.70 and a debt-to-equity ratio of 1.15. The company has a fifty day simple moving average of $241.74 and a 200 day simple moving average of $239.31.

Norfolk Southern (NYSE:NSC - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The railroad operator reported $2.69 earnings per share for the quarter, missing the consensus estimate of $2.72 by ($0.03). Norfolk Southern had a net margin of 27.40% and a return on equity of 19.65%. The company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same period last year, the firm posted $2.49 earnings per share. The company's revenue for the quarter was down .4% on a year-over-year basis. Sell-side analysts expect that Norfolk Southern will post 13 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Friday, May 2nd were given a dividend of $1.35 per share. The ex-dividend date was Friday, May 2nd. This represents a $5.40 dividend on an annualized basis and a yield of 2.06%. Norfolk Southern's dividend payout ratio is currently 36.89%.

Institutional Investors Weigh In On Norfolk Southern

A number of large investors have recently modified their holdings of NSC. LVM Capital Management Ltd. MI purchased a new position in Norfolk Southern during the second quarter worth about $214,000. Central Pacific Bank Trust Division lifted its holdings in Norfolk Southern by 20.4% during the 2nd quarter. Central Pacific Bank Trust Division now owns 17,245 shares of the railroad operator's stock worth $4,414,000 after buying an additional 2,916 shares in the last quarter. AG2R LA Mondiale Gestion D Actifs acquired a new position in Norfolk Southern during the 1st quarter worth $2,167,000. Swedbank AB lifted its stake in Norfolk Southern by 0.6% in the first quarter. Swedbank AB now owns 125,592 shares of the railroad operator's stock worth $29,746,000 after acquiring an additional 710 shares during the last quarter. Finally, Howe & Rusling Inc. increased its holdings in Norfolk Southern by 3.1% in the first quarter. Howe & Rusling Inc. now owns 21,178 shares of the railroad operator's stock valued at $5,016,000 after buying an additional 631 shares during the last quarter. Hedge funds and other institutional investors 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.