Norfolk Southern Co. (NYSE:NSC) Sees Significant Decrease in Short Interest

Norfolk Southern Co. (NYSE:NSC - Get Free Report) was the recipient of a significant decline in short interest during the month of April. As of April 15th, there was short interest totalling 1,900,000 shares, a decline of 29.4% from the March 31st total of 2,690,000 shares. Based on an average daily volume of 1,370,000 shares, the days-to-cover ratio is currently 1.4 days. Currently, 0.8% of the company's shares are short sold.

Norfolk Southern Stock Up 1.1 %

Shares of NYSE NSC traded up $2.51 on Friday, reaching $224.28. 1,051,035 shares of the company's stock traded hands, compared to its average volume of 1,238,484. The company has a quick ratio of 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 1.16. The business's 50 day simple moving average is $227.96 and its two-hundred day simple moving average is $243.93. Norfolk Southern has a 12 month low of $201.63 and a 12 month high of $277.60. The company has a market cap of $50.56 billion, a price-to-earnings ratio of 19.40, a price-to-earnings-growth ratio of 2.31 and a beta of 1.30.

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 (EPS) for the quarter, missing analysts' consensus estimates of $2.72 by ($0.03). Norfolk Southern had a net margin of 21.63% and a return on equity of 20.04%. The company had revenue of $2.99 billion for the quarter, compared to analysts' expectations of $3.01 billion. During the same quarter in the previous year, the firm posted $2.49 EPS. The firm's quarterly revenue was down .4% compared to the same quarter last year. As a group, equities research analysts forecast that Norfolk Southern will post 13 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 20th. Investors of record on Friday, May 2nd will be given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.41%. The ex-dividend date is Friday, May 2nd. Norfolk Southern's dividend payout ratio (DPR) is 36.89%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NSC. Robert W. Baird raised their target price on shares of Norfolk Southern from $260.00 to $270.00 and gave the stock a "neutral" rating in a report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft started coverage on shares of Norfolk Southern in a research note on Friday, March 7th. They set a "buy" rating and a $293.00 price objective for the company. Royal Bank of Canada cut their target price 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. JPMorgan Chase & Co. upped their price target on Norfolk Southern from $284.00 to $286.00 and gave the company an "overweight" rating in a research report on Thursday, January 30th. Finally, Bank of America cut their price objective on Norfolk Southern from $292.00 to $272.00 and set a "buy" rating on the stock in a research report on Tuesday, March 25th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $266.10.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Financial Life Planners bought a new stake in shares of Norfolk Southern during the fourth quarter valued at approximately $27,000. Keystone Financial Group Inc. purchased a new stake in Norfolk Southern during the 4th quarter valued at $27,000. Bank of Jackson Hole Trust bought a new stake in shares of Norfolk Southern in the 4th quarter worth $27,000. Morse Asset Management Inc purchased a new position in shares of Norfolk Southern in the third quarter worth $30,000. Finally, Vision Financial Markets LLC bought a new position in shares of Norfolk Southern during the fourth quarter valued at $28,000. 75.10% of the stock is 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.