Norfolk Southern Corporation (NSC) shares have seen a surge in price targets following the company’s impressive third-quarter results. Several analysts have upgraded their ratings and increased their price targets on the stock, citing strong operational improvements and a positive outlook for the future. The company’s focus on operational efficiency, coupled with anticipated increases in shareholder returns and debt reduction, has fueled investor optimism.
Norfolk Southern (NSC) has faced challenges since the pandemic, with supply chain disruptions, volatile freight demand, and inflation. The major train derailment in East Palestine, Ohio, added hundreds of millions of costs, including a $600 million settlement. A proxy battle with Ancora Holdings has also brought pressure for significant change. Despite these headwinds, NSC remains a core holding for the author due to its growth potential. The appointment of a new chief operating officer and aggressive operational targets suggest that improvements are underway. Analysts forecast significant EPS growth in the coming years, and the current valuation presents potential upside if NSC achieves its goals.
Norfolk Southern Corporation (NYSE: NSC) has declared a quarterly dividend of $1.50 per share on its common stock. The dividend will be payable on July 1, 2023, to shareholders of record as of the close of business on June 15, 2023. This marks the company’s 167th consecutive quarterly dividend since its formation in 1982, reflecting its long-standing commitment to shareholder returns.
