Norfolk Southern (NYSE:NSC) Cut to “Hold (C+)” at Weiss Ratings

Weiss Ratings lowered shares of Norfolk Southern (NYSE:NSC) from a buy (b-) rating to a hold (c+) rating in a report published on Saturday morning,Weiss Ratings reports.

Other analysts have also recently issued research reports about the company. Robert W. Baird increased their target price on Norfolk Southern from $255.00 to $300.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Susquehanna increased their price objective on shares of Norfolk Southern from $284.00 to $295.00 and gave the stock a “neutral” rating in a report on Thursday, September 25th. Citigroup lowered their price objective on shares of Norfolk Southern from $316.00 to $307.00 and set a “neutral” rating for the company in a research report on Friday. Sanford C. Bernstein upped their target price on shares of Norfolk Southern from $295.00 to $305.00 and gave the stock an “outperform” rating in a research report on Monday, July 21st. Finally, Jefferies Financial Group reissued a “hold” rating and set a $300.00 price target on shares of Norfolk Southern in a research note on Friday, July 25th. Seven analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $299.70.

Norfolk Southern Stock Performance

NYSE NSC opened at $281.56 on Friday. Norfolk Southern has a 1-year low of $201.63 and a 1-year high of $302.24. The company has a 50 day moving average of $285.81 and a 200-day moving average of $263.28. The company has a current ratio of 0.86, a quick ratio of 0.78 and a debt-to-equity ratio of 1.09. The firm has a market cap of $63.18 billion, a price-to-earnings ratio of 21.48, a PEG ratio of 2.53 and a beta of 1.33.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Thursday, October 23rd. The railroad operator reported $3.30 EPS for the quarter, missing analysts’ consensus estimates of $3.31 by ($0.01). Norfolk Southern had a return on equity of 18.93% and a net margin of 24.22%.The business had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.11 billion. During the same quarter last year, the company earned $3.25 earnings per share. The firm’s revenue was up .0% on a year-over-year basis. On average, equities analysts forecast that Norfolk Southern will post 13 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Friday, November 7th will be issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, November 7th. Norfolk Southern’s dividend payout ratio is 41.19%.

Hedge Funds Weigh In On Norfolk Southern

Several institutional investors and hedge funds have recently modified their holdings of the business. Brighton Jones LLC boosted its holdings in shares of Norfolk Southern by 4.9% in the fourth quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator’s stock valued at $400,000 after buying an additional 79 shares during the period. GAMMA Investing LLC lifted its position in Norfolk Southern by 8.3% in the 1st quarter. GAMMA Investing LLC now owns 4,179 shares of the railroad operator’s stock valued at $990,000 after acquiring an additional 321 shares in the last quarter. Golden State Wealth Management LLC boosted its stake in Norfolk Southern by 2,038.9% in the 1st quarter. Golden State Wealth Management LLC now owns 385 shares of the railroad operator’s stock worth $91,000 after purchasing an additional 367 shares during the period. PDS Planning Inc boosted its stake in Norfolk Southern by 6.4% in the 1st quarter. PDS Planning Inc now owns 1,013 shares of the railroad operator’s stock worth $240,000 after purchasing an additional 61 shares during the period. Finally, Diversified Trust Co increased its holdings in Norfolk Southern by 74.3% during the 1st quarter. Diversified Trust Co now owns 5,840 shares of the railroad operator’s stock worth $1,383,000 after purchasing an additional 2,489 shares in the last quarter. 75.10% of the stock is currently owned by institutional investors and hedge funds.

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.