Norfolk Southern (NYSE:NSC) Reaches New 12-Month High - What's Next?

Norfolk Southern Corporation (NYSE:NSC - Get Free Report)'s share price reached a new 52-week high on Saturday . The stock traded as high as $280.00 and last traded at $277.00, with a volume of 6134047 shares changing hands. The stock had previously closed at $269.81.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Wells Fargo & Company cut their price target on shares of Norfolk Southern from $300.00 to $290.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $278.00 target price on shares of Norfolk Southern in a research report on Monday, June 2nd. Jefferies Financial Group dropped their price objective on Norfolk Southern from $285.00 to $260.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Baird R W upgraded Norfolk Southern to a "hold" rating in a research note on Tuesday, July 1st. Finally, Susquehanna restated a "neutral" rating and issued a $260.00 price target (up from $250.00) on shares of Norfolk Southern in a research report on Tuesday, June 24th. Nine equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, Norfolk Southern presently has a consensus rating of "Moderate Buy" and a consensus price target of $278.25.

Norfolk Southern Price Performance

The company has a debt-to-equity ratio of 1.15, a current ratio of 0.78 and a quick ratio of 0.70. The firm has a 50-day moving average of $252.39 and a 200 day moving average of $241.81. The company has a market capitalization of $62.57 billion, a PE ratio of 18.95, a PEG ratio of 2.27 and a beta of 1.31.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The railroad operator reported $2.69 EPS for the quarter, missing analysts' consensus estimates of $2.72 by ($0.03). The business had revenue of $2.99 billion during the quarter, compared to analysts' expectations of $3.01 billion. Norfolk Southern had a return on equity of 19.65% and a net margin of 27.40%. The business's quarterly revenue was down .4% on a year-over-year basis. During the same period in the previous year, the business earned $2.49 earnings per share. As a group, research analysts anticipate that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Friday, May 2nd were issued a $1.35 dividend. The ex-dividend date was Friday, May 2nd. This represents a $5.40 dividend on an annualized basis and a yield of 1.95%. Norfolk Southern's payout ratio is 36.89%.

Hedge Funds Weigh In On Norfolk Southern

Hedge funds and other institutional investors have recently modified their holdings of the business. WPG Advisers LLC acquired a new position in Norfolk Southern in the first quarter valued at about $27,000. Fourth Dimension Wealth LLC purchased a new stake in Norfolk Southern in the fourth quarter valued at approximately $28,000. Putney Financial Group LLC acquired a new stake in shares of Norfolk Southern in the fourth quarter valued at $30,000. Greenline Partners LLC purchased a new position in Norfolk Southern during the 4th quarter valued at about $31,000. Finally, HWG Holdings LP purchased a new position in shares of Norfolk Southern in the first quarter valued at approximately $35,000. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Company Profile

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.