Norfolk Souther Corporation (NYSE:NSC) announced a quarterly dividend on Tuesday, October 24th, RTT News reports. Stockholders of record on Friday, November 3rd will be paid a dividend of 0.61 per share by the railroad operator on Monday, December 11th. This represents a $2.44 annualized dividend and a dividend yield of 1.85%.

Norfolk Souther Corporation has decreased its dividend payment by an average of 4.6% per year over the last three years and has increased its dividend annually for the last 7 consecutive years. Norfolk Souther Corporation has a payout ratio of 38.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Norfolk Souther Corporation to earn $7.00 per share next year, which means the company should continue to be able to cover its $2.44 annual dividend with an expected future payout ratio of 34.9%.

Shares of Norfolk Souther Corporation (NYSE NSC) traded up 0.75% during midday trading on Tuesday, hitting $132.86. The stock had a trading volume of 1,133,493 shares. The company’s 50 day moving average price is $129.44 and its 200-day moving average price is $121.02. The firm has a market capitalization of $38.29 billion, a PE ratio of 21.59 and a beta of 1.38. Norfolk Souther Corporation has a 1-year low of $89.95 and a 1-year high of $134.52.

Norfolk Souther Corporation (NYSE:NSC) last issued its earnings results on Wednesday, July 26th. The railroad operator reported $1.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.65 by $0.06. The company had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.64 billion. Norfolk Souther Corporation had a net margin of 17.66% and a return on equity of 14.45%. Norfolk Souther Corporation’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.36 EPS. Equities analysts predict that Norfolk Souther Corporation will post $6.36 earnings per share for the current year.

A number of equities research analysts have recently issued reports on the stock. Cowen and Company reaffirmed an “outperform” rating and issued a $130.00 target price on shares of Norfolk Souther Corporation in a report on Tuesday, August 1st. Stifel Nicolaus reaffirmed a “hold” rating and issued a $124.00 target price (up from $122.00) on shares of Norfolk Souther Corporation in a report on Thursday, July 27th. Wells Fargo & Company cut shares of Norfolk Souther Corporation from an “outperform” rating to a “market perform” rating in a report on Monday, October 16th. Zacks Investment Research cut shares of Norfolk Souther Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Finally, Deutsche Bank AG cut shares of Norfolk Souther Corporation from a “buy” rating to a “hold” rating and dropped their target price for the company from $132.00 to $104.00 in a report on Monday, July 31st. Four research analysts have rated the stock with a sell rating, eighteen have given a hold rating and six have issued a buy rating to the company. Norfolk Souther Corporation has a consensus rating of “Hold” and a consensus target price of $118.88.

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In related news, COO Michael Joseph Wheeler sold 2,370 shares of the stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $118.68, for a total transaction of $281,271.60. Following the sale, the chief operating officer now owns 13,492 shares in the company, valued at approximately $1,601,230.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Thomas E. Hurlbut sold 300 shares of the stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $118.80, for a total transaction of $35,640.00. Following the sale, the vice president now owns 4,000 shares in the company, valued at approximately $475,200. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,077 shares of company stock worth $3,244,531. Company insiders own 0.36% of the company’s stock.

Norfolk Souther Corporation announced that its Board of Directors has initiated a share buyback plan on Tuesday, September 26th that permits the company to repurchase 50,000,000 outstanding shares. This repurchase authorization permits the railroad operator to purchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

About Norfolk Souther Corporation

Norfolk Southern Corporation is a holding company engaged in the rail transportation business. As of December 31, 2016, the Company operated approximately 19,500 miles of road primarily in the East and Midwest. The Company is engaged in the rail transportation of raw materials, intermediate products and finished goods primarily in the Southeast, East and Midwest.

Dividend History for Norfolk Souther Corporation (NYSE:NSC)

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