Norfolk Southern (NYSE:NSC) Reaches New 12-Month High Following Dividend Announcement

Norfolk Southern Corporation (NYSE:NSC)’s stock price hit a new 52-week high during trading on Friday after the company announced a dividend. The stock traded as high as $322.20 and last traded at $321.8130, with a volume of 1413253 shares changing hands. The stock had previously closed at $298.33.

The newly announced dividend which will be paid on Wednesday, May 20th. Investors of record on Friday, May 8th will be issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Friday, May 8th. Norfolk Southern’s dividend payout ratio is 42.35%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on NSC shares. Benchmark reiterated a “hold” rating on shares of Norfolk Southern in a research note on Friday, January 30th. JPMorgan Chase & Co. decreased their price target on shares of Norfolk Southern from $296.00 to $292.00 and set a “neutral” rating on the stock in a report on Tuesday, April 7th. Rothschild & Co Redburn lowered their price objective on Norfolk Southern from $317.00 to $308.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 1st. Jefferies Financial Group dropped their price objective on Norfolk Southern from $350.00 to $310.00 and set a “hold” rating for the company in a research note on Monday, April 6th. Finally, Robert W. Baird boosted their target price on Norfolk Southern from $288.00 to $315.00 and gave the stock a “neutral” rating in a research report on Friday, March 6th. Seven equities research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company. Based on data from MarketBeat.com, Norfolk Southern presently has a consensus rating of “Hold” and a consensus price target of $310.17.

Norfolk Southern Trading Up 7.9%

The firm has a market cap of $78.79 billion, a P/E ratio of 25.24, a PEG ratio of 5.50 and a beta of 1.31. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.85 and a quick ratio of 0.78. The stock has a 50 day moving average of $299.51 and a 200 day moving average of $293.60.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Thursday, January 29th. The railroad operator reported $3.22 earnings per share for the quarter, beating analysts’ consensus estimates of $2.76 by $0.46. Norfolk Southern had a return on equity of 18.78% and a net margin of 23.59%.The business had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.03 billion. During the same quarter last year, the business posted $3.04 earnings per share. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. As a group, equities research analysts predict that Norfolk Southern Corporation will post 12.14 EPS for the current year.

Institutional Trading of Norfolk Southern

A number of hedge funds have recently bought and sold shares of the company. ORG Partners LLC boosted its stake in Norfolk Southern by 75.0% in the third quarter. ORG Partners LLC now owns 84 shares of the railroad operator’s stock worth $25,000 after buying an additional 36 shares in the last quarter. JPL Wealth Management LLC purchased a new position in shares of Norfolk Southern during the third quarter worth approximately $25,000. Westside Investment Management Inc. raised its stake in shares of Norfolk Southern by 207.1% during the third quarter. Westside Investment Management Inc. now owns 86 shares of the railroad operator’s stock worth $26,000 after acquiring an additional 58 shares in the last quarter. GoalVest Advisory LLC lifted its holdings in shares of Norfolk Southern by 933.3% in the 4th quarter. GoalVest Advisory LLC now owns 93 shares of the railroad operator’s stock worth $27,000 after acquiring an additional 84 shares during the last quarter. Finally, MMA Asset Management LLC purchased a new stake in shares of Norfolk Southern in the 3rd quarter valued at $28,000. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Company Profile

Norfolk Southern Corporation is a major U.S. freight railroad company that provides rail transportation and related logistics services. As a Class I carrier, the company operates an extensive network across the eastern United States and offers scheduled freight service for a broad range of industries. Its core operations include long-haul and regional rail freight transportation, intermodal services that move containers and trailers between rail and other modes, and terminal and switching services that support efficient rail shipments for industrial and port customers.

The company transports a variety of commodities, serving sectors such as coal and energy, automotive and automotive parts, chemicals, agriculture, metals and construction materials, and consumer goods.