TD Cowen Upgrades Norfolk Southern (NYSE:NSC) to "Buy"

TD Cowen upgraded shares of Norfolk Southern (NYSE:NSC - Free Report) from a hold rating to a buy rating in a research report report published on Monday, MarketBeat reports. The firm currently has $323.00 price target on the railroad operator's stock, up from their prior price target of $263.00.

A number of other research analysts have also weighed in on the company. UBS Group raised their price objective on Norfolk Southern from $275.00 to $279.00 and gave the company a "buy" rating in a research report on Friday, May 30th. Wells Fargo & Company reduced their price objective on Norfolk Southern from $300.00 to $290.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. Robert W. Baird started coverage on Norfolk Southern in a report on Tuesday, July 1st. They issued a "neutral" rating and a $255.00 target price for the company. Baird R W raised Norfolk Southern to a "hold" rating in a report on Tuesday, July 1st. Finally, Jefferies Financial Group reduced their target price on Norfolk Southern from $285.00 to $260.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Nine equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $280.50.

Norfolk Southern Trading Up 1.1%

NYSE NSC traded up $3.06 on Monday, hitting $280.44. The company's stock had a trading volume of 2,020,423 shares, compared to its average volume of 1,273,248. Norfolk Southern has a 52-week low of $201.63 and a 52-week high of $288.50. 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's 50-day simple moving average is $252.39 and its 200 day simple moving average is $241.81. The firm has a market cap of $63.22 billion, a P/E ratio of 19.16, a PEG ratio of 2.27 and a beta of 1.31.

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

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Friday, August 1st will be issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date is Friday, August 1st. Norfolk Southern's dividend payout ratio is currently 36.89%.

Hedge Funds Weigh In On Norfolk Southern

Several hedge funds have recently made changes to their positions in the business. SeaCrest Wealth Management LLC increased its position in Norfolk Southern by 1.7% in the second quarter. SeaCrest Wealth Management LLC now owns 2,429 shares of the railroad operator's stock worth $622,000 after buying an additional 40 shares in the last quarter. Pinnacle Bancorp Inc. grew its stake in Norfolk Southern by 30.5% during the 2nd quarter. Pinnacle Bancorp Inc. now owns 184 shares of the railroad operator's stock worth $47,000 after buying an additional 43 shares during the last quarter. Strategic Investment Solutions Inc. IL grew its stake in Norfolk Southern by 16.9% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 304 shares of the railroad operator's stock valued at $71,000 after purchasing an additional 44 shares during the last quarter. CoreCap Advisors LLC boosted its stake in shares of Norfolk Southern by 1.5% in the fourth quarter. CoreCap Advisors LLC now owns 3,097 shares of the railroad operator's stock worth $727,000 after buying an additional 45 shares during the last quarter. Finally, Canandaigua National Trust Co of Florida raised its position in Norfolk Southern by 4.9% during the first quarter. Canandaigua National Trust Co of Florida now owns 956 shares of the railroad operator's stock valued at $226,000 after acquiring an additional 45 shares in the last quarter. 75.10% of the stock is owned by hedge funds and other institutional investors.

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.