Norfolk Southern Target of Unusually High Options Trading (NYSE:NSC)

Norfolk Southern Corporation (NYSE:NSC) was the target of unusually large options trading on Thursday. Stock investors acquired 3,034 put options on the stock. This is an increase of approximately 950% compared to the typical volume of 289 put options.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on NSC shares. UBS Group set a $327.00 price objective on shares of Norfolk Southern in a report on Thursday, May 7th. JPMorgan Chase & Co. decreased their price target on shares of Norfolk Southern from $296.00 to $292.00 and set a “neutral” rating for the company in a report on Tuesday, April 7th. Royal Bank Of Canada cut their target price on Norfolk Southern from $360.00 to $320.00 and set a “sector perform” rating on the stock in a research report on Wednesday, June 24th. Stephens upgraded Norfolk Southern to a “hold” rating in a research note on Wednesday. Finally, Rothschild & Co Redburn boosted their price target on Norfolk Southern from $308.00 to $315.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. Seven research analysts have rated the stock with a Buy rating and seventeen have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $322.83.

Norfolk Southern Stock Performance

Norfolk Southern stock traded up $0.64 during midday trading on Thursday, hitting $319.86. 168,980 shares of the company were exchanged, compared to its average volume of 1,232,783. The business has a fifty day simple moving average of $312.59 and a two-hundred day simple moving average of $302.61. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.91. The firm has a market capitalization of $71.84 billion, a PE ratio of 26.95, a price-to-earnings-growth ratio of 5.96 and a beta of 1.27. Norfolk Southern has a fifty-two week low of $257.49 and a fifty-two week high of $326.00.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Friday, April 24th. The railroad operator reported $2.65 EPS for the quarter, topping the consensus estimate of $2.49 by $0.16. The business had revenue of $3 billion for the quarter, compared to analyst estimates of $3.13 billion. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.69 EPS. On average, sell-side analysts forecast that Norfolk Southern will post 12.12 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were given a dividend of $1.35 per share. The ex-dividend date was Friday, May 8th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.7%. Norfolk Southern’s dividend payout ratio (DPR) is 45.49%.

Hedge Funds Weigh In On Norfolk Southern

A number of hedge funds have recently bought and sold shares of NSC. Norges Bank purchased a new stake in Norfolk Southern in the 4th quarter worth $1,084,701,000. Pentwater Capital Management LP acquired a new stake in Norfolk Southern in the 3rd quarter worth about $826,128,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Norfolk Southern by 545.2% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,306,203 shares of the railroad operator’s stock valued at $392,396,000 after acquiring an additional 1,103,748 shares in the last quarter. Balyasny Asset Management L.P. purchased a new position in shares of Norfolk Southern in the third quarter valued at approximately $329,629,000. Finally, HBK Investments L P lifted its holdings in Norfolk Southern by 67.7% in the 4th quarter. HBK Investments L P now owns 2,130,000 shares of the railroad operator’s stock valued at $614,974,000 after purchasing an additional 860,000 shares in the last quarter. Hedge funds and other institutional investors own 75.10% of the company’s stock.

About Norfolk Southern

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.