Norfolk Southern (NYSE:NSC) Price Target Raised to $295.00 at Sanford C. Bernstein

Norfolk Southern (NYSE:NSC - Free Report) had its target price boosted by Sanford C. Bernstein from $258.00 to $295.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an outperform rating on the railroad operator's stock.

NSC has been the subject of several other reports. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $278.00 target price on shares of Norfolk Southern in a research note on Monday, June 2nd. BMO Capital Markets reissued a "market perform" rating and set a $255.00 price objective on shares of Norfolk Southern in a report on Thursday, April 24th. Jefferies Financial Group cut their price objective on shares of Norfolk Southern from $285.00 to $260.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Susquehanna restated a "neutral" rating and set a $260.00 price objective (up previously from $250.00) on shares of Norfolk Southern in a research note on Tuesday, June 24th. Finally, Wells Fargo & Company cut 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. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $273.80.

Norfolk Southern Price Performance

Shares of NSC stock traded down $0.38 during mid-day trading on Tuesday, hitting $260.82. 574,843 shares of the stock traded hands, compared to its average volume of 1,294,472. Norfolk Southern has a twelve month low of $201.63 and a twelve month high of $277.60. 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 firm has a market cap of $58.80 billion, a price-to-earnings ratio of 17.82, a price-to-earnings-growth ratio of 2.11 and a beta of 1.31. The company's 50-day simple moving average is $245.59 and its 200-day simple moving average is $240.15.

Norfolk Southern (NYSE:NSC - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The railroad operator reported $2.69 earnings per share 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 the consensus estimate of $3.01 billion. Norfolk Southern had a net margin of 27.40% and a return on equity of 19.65%. The firm's revenue was down .4% on a year-over-year basis. During the same quarter last year, the company posted $2.49 EPS. As a group, equities research analysts expect that Norfolk Southern will post 13 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Friday, May 2nd were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.07%. The ex-dividend date was Friday, May 2nd. Norfolk Southern's payout ratio is 36.89%.

Hedge Funds 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 Norfolk Southern by 16.9% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 304 shares of the railroad operator's stock valued at $71,000 after acquiring an additional 44 shares in the last quarter. CoreCap Advisors LLC grew its holdings 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 valued at $727,000 after purchasing an additional 45 shares in the last quarter. Canandaigua National Trust Co of Florida lifted its position in shares of 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 worth $226,000 after purchasing an additional 45 shares during the last quarter. Capital Investment Advisory Services LLC raised its holdings in Norfolk Southern by 1.8% in the first 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 in the last quarter. Finally, Certified Advisory Corp boosted its position in Norfolk Southern by 1.0% in the first quarter. Certified Advisory Corp now owns 4,644 shares of the railroad operator's stock valued at $1,100,000 after buying an additional 47 shares during the last quarter. 75.10% of the stock is owned by 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.