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

Key Points

• Norfolk Southern's stock reached a new 52-week high at $288.11 before closing at $278.34, with significant trading volume of over 5.3 million shares.
• Analysts have mixed views on the stock, with a consensus rating of "Moderate Buy" and target prices ranging from $247.00 to $323.00.
• The company announced a quarterly dividend of $1.35, representing an annual yield of 1.94%, with a payout ratio of 36.89%.

Norfolk Southern Corporation (NYSE:NSC - Get Free Report)'s stock price reached a new 52-week high during trading on Friday . The company traded as high as $288.11 and last traded at $278.34, with a volume of 5379434 shares traded. The stock had previously closed at $280.27.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. BMO Capital Markets reaffirmed a "market perform" rating and issued a $255.00 target price on shares of Norfolk Southern in a research report on Thursday, April 24th. Barclays cut their target price on shares of Norfolk Southern from $305.00 to $290.00 and set an "overweight" rating for the company in a research report on Wednesday, April 2nd. Stifel Nicolaus cut their target price on shares of Norfolk Southern from $265.00 to $247.00 and set a "hold" rating for the company in a research report on Monday, April 14th. Citigroup downgraded shares of Norfolk Southern from a "buy" rating to a "neutral" rating and lifted their target price for the stock from $259.00 to $288.00 in a research report on Wednesday, July 9th. Finally, TD Cowen raised shares of Norfolk Southern from a "hold" rating to a "buy" rating and boosted their price objective for the company from $263.00 to $323.00 in a research report on Monday. Nine analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Norfolk Southern has a consensus rating of "Moderate Buy" and a consensus target price of $280.50.

Norfolk Southern Stock Performance

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 business's 50 day moving average is $255.44 and its two-hundred day moving average is $242.91. The company has a market cap of $62.75 billion, a PE ratio of 19.01, a PEG ratio of 2.30 and a beta of 1.31.

Norfolk Southern (NYSE:NSC - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The railroad operator reported $2.69 EPS for the quarter, missing the consensus estimate of $2.72 by ($0.03). The company 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 firm's revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.49 EPS. On average, equities research analysts anticipate that Norfolk Southern Corporation will post 13 EPS for the current year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Friday, August 1st will be paid a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend is Friday, August 1st. Norfolk Southern's payout ratio is currently 36.89%.

Institutional Trading of Norfolk Southern

Several hedge funds have recently bought and sold shares of NSC. Brighton Jones LLC lifted its stake in Norfolk Southern by 4.9% in the 4th quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator's stock worth $400,000 after purchasing an additional 79 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Norfolk Southern during the 4th quarter valued at about $218,000. Modern Wealth Management LLC raised its position in shares of Norfolk Southern by 12.0% during the 4th quarter. Modern Wealth Management LLC now owns 1,086 shares of the railroad operator's stock valued at $275,000 after buying an additional 116 shares in the last quarter. TIAA Trust National Association raised its position in shares of Norfolk Southern by 1.2% during the 4th quarter. TIAA Trust National Association now owns 21,410 shares of the railroad operator's stock valued at $5,025,000 after buying an additional 264 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. raised its position in shares of Norfolk Southern by 5.1% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 7,471 shares of the railroad operator's stock valued at $1,753,000 after buying an additional 360 shares in the last quarter. Hedge funds and other institutional investors own 75.10% of the company's stock.

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.

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