Norfolk Southern (NYSE:NSC) Shares Down 4% - Time to Sell?

Norfolk Southern Corporation (NYSE:NSC - Get Free Report) fell 4% during trading on Thursday . The company traded as low as $261.94 and last traded at $251.50. 918,034 shares traded hands during trading, a decline of 26% from the average session volume of 1,233,792 shares. The stock had previously closed at $262.00.

Analyst Ratings Changes

Several brokerages recently issued reports on NSC. Citigroup reduced their price objective on shares of Norfolk Southern from $298.00 to $259.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Robert W. Baird started coverage on Norfolk Southern in a research note on Tuesday. They set a "neutral" rating and a $255.00 price target on the stock. Stifel Nicolaus decreased their price objective on Norfolk Southern from $265.00 to $247.00 and set a "hold" rating on the stock in a report on Monday, April 14th. Susquehanna reiterated a "neutral" rating and set a $260.00 target price (up from $250.00) on shares of Norfolk Southern in a research report on Tuesday, June 24th. Finally, Royal Bank Of Canada decreased their price target on Norfolk Southern from $271.00 to $270.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $267.48.

Norfolk Southern Trading Up 0.2%

The firm has a fifty day moving average of $242.54 and a 200-day moving average of $239.47. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.70 and a current ratio of 0.78. The stock has a market capitalization of $59.18 billion, a price-to-earnings ratio of 17.93, a P/E/G ratio of 2.06 and a beta of 1.31.

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

Norfolk Southern Dividend Announcement

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

Institutional Investors Weigh In On Norfolk Southern

Hedge funds and other institutional investors have recently bought and sold shares of the business. Strategic Investment Solutions Inc. IL grew its stake in shares of Norfolk Southern by 16.9% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 304 shares of the railroad operator's stock valued at $71,000 after buying an additional 44 shares in the last quarter. CoreCap Advisors LLC boosted its holdings in Norfolk Southern by 1.5% during the fourth quarter. CoreCap Advisors LLC now owns 3,097 shares of the railroad operator's stock valued at $727,000 after acquiring an additional 45 shares during the period. Canandaigua National Trust Co of Florida increased its stake in shares of Norfolk Southern by 4.9% in the first quarter. Canandaigua National Trust Co of Florida now owns 956 shares of the railroad operator's stock worth $226,000 after purchasing an additional 45 shares during the period. Capital Investment Advisory Services LLC lifted its position in shares of Norfolk Southern by 1.8% during the 1st quarter. Capital Investment Advisory Services LLC now owns 2,556 shares of the railroad operator's stock worth $605,000 after purchasing an additional 45 shares during the last quarter. Finally, Certified Advisory Corp boosted its stake in Norfolk Southern by 1.0% during the 1st quarter. Certified Advisory Corp now owns 4,644 shares of the railroad operator's stock valued at $1,100,000 after purchasing an additional 47 shares during the period. 75.10% of the stock is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.