Norfolk Southern (NYSE:NSC) Trading Down 5.5% – Here’s What Happened

Norfolk Southern Corporation (NYSE:NSC)’s stock price fell 5.5% during mid-day trading on Thursday . The stock traded as low as $304.66 and last traded at $307.8420. 653,912 shares were traded during mid-day trading, a decline of 48% from the average session volume of 1,250,536 shares. The stock had previously closed at $325.68.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Argus raised Norfolk Southern to a “hold” rating in a research note on Wednesday, February 25th. BMO Capital Markets upped their price target on shares of Norfolk Southern from $305.00 to $310.00 and gave the company a “market perform” rating in a report on Monday, April 27th. Weiss Ratings downgraded shares of Norfolk Southern from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, April 27th. Robert W. Baird upped their price target on shares of Norfolk Southern from $315.00 to $330.00 and gave the company a “neutral” rating in a report on Tuesday, April 28th. Finally, Benchmark reissued a “hold” rating on shares of Norfolk Southern in a report on Friday, January 30th. Six analysts have rated the stock with a Buy rating and seventeen have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Norfolk Southern has an average rating of “Hold” and a consensus price target of $319.83.

Norfolk Southern Stock Performance

The firm has a 50 day moving average of $303.14 and a 200-day moving average of $298.30. The stock has a market capitalization of $68.50 billion, a PE ratio of 25.69, a P/E/G ratio of 5.69 and a beta of 1.30. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.91.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Friday, April 24th. The railroad operator reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.49 by $0.16. The firm had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.13 billion. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the prior year, the business earned $2.69 EPS. Research analysts forecast that Norfolk Southern Corporation will post 12.11 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Friday, May 8th. Norfolk Southern’s dividend payout ratio is currently 45.49%.

Institutional Investors Weigh In On Norfolk Southern

Several hedge funds have recently bought and sold shares of NSC. Brighton Jones LLC lifted its stake in Norfolk Southern by 4.9% in the 4th quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator’s stock worth $400,000 after acquiring an additional 79 shares in the last quarter. Intech Investment Management LLC lifted its stake in Norfolk Southern by 40.4% in the 1st quarter. Intech Investment Management LLC now owns 6,447 shares of the railroad operator’s stock worth $1,527,000 after acquiring an additional 1,855 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Norfolk Southern during the 2nd quarter worth about $327,000. Schnieders Capital Management LLC. raised its stake in shares of Norfolk Southern by 64.1% during the 2nd quarter. Schnieders Capital Management LLC. now owns 4,275 shares of the railroad operator’s stock worth $1,094,000 after purchasing an additional 1,670 shares in the last quarter. Finally, Jump Financial LLC raised its stake in shares of Norfolk Southern by 185.1% during the 2nd quarter. Jump Financial LLC now owns 4,588 shares of the railroad operator’s stock worth $1,174,000 after purchasing an additional 2,979 shares in the last quarter. 75.10% of the stock is owned by hedge funds and other institutional investors.

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.