Norfolk Southern Corporation (NYSE:NSC - Get Free Report) shares saw unusually-high trading volume on Tuesday following a stronger than expected earnings report. Approximately 1,993,500 shares traded hands during trading, an increase of 40% from the previous session's volume of 1,427,193 shares.The stock last traded at $278.84 and had previously closed at $286.42.
The railroad operator reported $3.29 earnings per share for the quarter, topping the consensus estimate of $3.24 by $0.05. The firm had revenue of $3.11 billion during the quarter, compared to analysts' expectations of $3.10 billion. Norfolk Southern had a net margin of 27.51% and a return on equity of 19.35%.
Norfolk Southern Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Friday, August 1st will be given a $1.35 dividend. The ex-dividend date is Friday, August 1st. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.93%. Norfolk Southern's dividend payout ratio is 36.89%.
Wall Street Analyst Weigh In
NSC has been the topic of a number of research analyst reports. Benchmark reaffirmed a "hold" rating on shares of Norfolk Southern in a research report on Wednesday. BMO Capital Markets reaffirmed a "market perform" rating and issued a $255.00 price target on shares of Norfolk Southern in a research note on Thursday, April 24th. TD Cowen upgraded shares of Norfolk Southern from a "hold" rating to a "buy" rating and raised their price objective for the stock from $263.00 to $323.00 in a report on Monday, July 21st. Royal Bank Of Canada reduced their target price on shares of Norfolk Southern from $271.00 to $270.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Finally, Evercore ISI reissued an "in-line" rating and issued a $289.00 price target (up previously from $279.00) on shares of Norfolk Southern in a research note on Wednesday. Thirteen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $285.15.
Read Our Latest Analysis on Norfolk Southern
Hedge Funds Weigh In On Norfolk Southern
Several hedge funds have recently added to or reduced their stakes in NSC. Brighton Jones LLC raised 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 valued at $400,000 after purchasing an additional 79 shares during the last quarter. WINTON GROUP Ltd purchased a new stake in Norfolk Southern in the 4th quarter valued at about $224,000. Allianz SE acquired a new position in Norfolk Southern in the fourth quarter valued at about $187,000. Arrowstreet Capital Limited Partnership boosted its stake in Norfolk Southern by 6.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 357,722 shares of the railroad operator's stock worth $83,957,000 after buying an additional 20,440 shares during the period. Finally, RWA Wealth Partners LLC raised its stake in shares of Norfolk Southern by 1.9% in the 4th quarter. RWA Wealth Partners LLC now owns 5,105 shares of the railroad operator's stock valued at $1,198,000 after acquiring an additional 94 shares during the period. 75.10% of the stock is currently owned by institutional investors.
Norfolk Southern Stock Performance
The company has a current ratio of 0.79, a quick ratio of 0.70 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $63.00 billion, a price-to-earnings ratio of 18.88, a price-to-earnings-growth ratio of 2.28 and a beta of 1.31. The firm's fifty day moving average price is $258.51 and its 200 day moving average price is $244.17.
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.
Featured Articles
Before you consider Norfolk Southern, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Norfolk Southern wasn't on the list.
While Norfolk Southern currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
