Sanford C. Bernstein Issues Positive Forecast for Norfolk Southern (NYSE:NSC) Stock Price

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

A number of other brokerages also recently weighed in on NSC. JPMorgan Chase & Co. boosted their price objective on shares of Norfolk Southern from $272.00 to $282.00 and gave the company an "overweight" rating in a research report on Tuesday. Baird R W raised shares of Norfolk Southern to a "hold" rating in a research report on Tuesday, July 1st. 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. Bank of America boosted their target price on shares of Norfolk Southern from $280.00 to $290.00 and gave the company a "buy" rating in a research note on Wednesday, July 2nd. Finally, UBS Group boosted their target price on shares of Norfolk Southern from $275.00 to $279.00 and gave the company a "buy" rating in a research note on Friday, May 30th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $273.80.

Norfolk Southern Trading Up 1.3%

Shares of Norfolk Southern stock traded up $3.30 during trading hours on Tuesday, hitting $266.44. The company's stock had a trading volume of 1,239,469 shares, compared to its average volume of 1,235,463. Norfolk Southern has a 1-year low of $201.63 and a 1-year high of $277.60. The business has a fifty day moving average of $247.14 and a 200 day moving average of $240.47. The company has a market capitalization of $60.07 billion, a PE ratio of 18.20, a P/E/G ratio of 2.12 and a beta of 1.31. The company has a quick ratio of 0.70, a current ratio of 0.78 and a debt-to-equity ratio of 1.15.

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

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Friday, May 2nd were issued a $1.35 dividend. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.03%. Norfolk Southern's dividend payout ratio is currently 36.89%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NSC. WPG Advisers LLC bought a new position in shares of Norfolk Southern in the first quarter valued at $27,000. Fourth Dimension Wealth LLC acquired a new stake in Norfolk Southern during the 4th quarter valued at $28,000. Atlantic Private Wealth LLC acquired a new stake in Norfolk Southern during the 4th quarter valued at $29,000. Putney Financial Group LLC acquired a new stake in Norfolk Southern during the 4th quarter valued at $30,000. Finally, Greenline Partners LLC acquired a new stake in Norfolk Southern during the 4th quarter valued at $31,000. 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.