Norfolk Southern (NYSE:NSC – Free Report) had its price target raised by Wells Fargo & Company from $365.00 to $385.00 in a report published on Friday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the railroad operator’s stock.
NSC has been the subject of a number of other research reports. Robert W. Baird boosted their target price on shares of Norfolk Southern from $330.00 to $360.00 and gave the stock a “neutral” rating in a research report on Friday, July 10th. Wolfe Research raised their price target on Norfolk Southern from $350.00 to $355.00 and gave the company an “outperform” rating in a research report on Tuesday, April 7th. Rothschild & Co Redburn lifted their price objective on Norfolk Southern from $308.00 to $315.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. Jefferies Financial Group cut their price objective on Norfolk Southern from $350.00 to $310.00 and set a “hold” rating for the company in a research report on Monday, April 6th. Finally, Royal Bank Of Canada increased their target price on Norfolk Southern from $320.00 to $360.00 and gave the company a “sector perform” rating in a research note on Friday. Seven investment analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $344.35.
Check Out Our Latest Report on Norfolk Southern
Norfolk Southern Price Performance
Norfolk Southern (NYSE:NSC – Get Free Report) last posted its earnings results on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.32 by $0.20. Norfolk Southern had a net margin of 21.02% and a return on equity of 18.21%. The business had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.38 billion. During the same period last year, the business posted $3.29 EPS. Norfolk Southern’s revenue was up 12.5% compared to the same quarter last year. On average, sell-side analysts expect that Norfolk Southern will post 12.42 earnings per share for the current year.
Norfolk Southern Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Friday, August 7th will be paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 1.5%. The ex-dividend date is Friday, August 7th. Norfolk Southern’s dividend payout ratio is presently 46.08%.
Institutional Trading of Norfolk Southern
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Tema ETFs LLC grew its position in Norfolk Southern by 8.6% during the second quarter. Tema ETFs LLC now owns 3,662 shares of the railroad operator’s stock worth $1,152,000 after buying an additional 290 shares in the last quarter. Ausbil Investment Management Ltd increased its stake in Norfolk Southern by 6.4% during the second quarter. Ausbil Investment Management Ltd now owns 28,026 shares of the railroad operator’s stock valued at $8,940,000 after acquiring an additional 1,697 shares during the period. E. Ohman J or Asset Management AB raised its holdings in Norfolk Southern by 0.9% in the 2nd quarter. E. Ohman J or Asset Management AB now owns 7,707 shares of the railroad operator’s stock valued at $2,425,000 after acquiring an additional 70 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in Norfolk Southern by 1.7% in the 2nd quarter. Handelsbanken Fonder AB now owns 123,304 shares of the railroad operator’s stock valued at $38,790,000 after acquiring an additional 2,023 shares in the last quarter. Finally, Tenzing Financial LLC bought a new stake in shares of Norfolk Southern in the 2nd quarter worth approximately $572,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.
Key Headlines Impacting Norfolk Southern
Here are the key news stories impacting Norfolk Southern this week:
- Positive Sentiment: Norfolk Southern beat Q2 expectations, posting $3.52 in EPS and revenue above estimates, with revenue up 12.5% year over year and record quarterly sales. Reuters article
- Positive Sentiment: Wells Fargo raised its price target to $385 and reiterated an overweight rating, signaling confidence that the stock still has room to run. Benzinga article
- Positive Sentiment: Citigroup lifted its target to $376, reflecting a more constructive view after the earnings release, even though it kept a neutral rating. Benzinga article
- Neutral Sentiment: JPMorgan raised its target to $338 but maintained a neutral rating, suggesting valuation looks less compelling after the recent move higher. Benzinga article
- Neutral Sentiment: Some commentary noted lower profitability and margin pressure despite the revenue beat, which may temper enthusiasm if cost pressures persist. Seeking Alpha article
- Negative Sentiment: Profitability was held back by higher fuel costs and lower efficiency, showing that cost inflation remains a headwind even as demand improves. TipRanks article
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.
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