Analysts predict that Norfolk Southern Co. (NYSE:NSC) will announce $2.70 billion in sales for the current quarter, Zacks reports. Three analysts have made estimates for Norfolk Southern’s earnings. The lowest sales estimate is $2.63 billion and the highest is $2.79 billion. Norfolk Southern reported sales of $2.09 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 29.2%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, August 4th.
On average, analysts expect that Norfolk Southern will report full-year sales of $10.79 billion for the current financial year, with estimates ranging from $10.67 billion to $11.00 billion. For the next year, analysts forecast that the firm will report sales of $11.35 billion, with estimates ranging from $11.13 billion to $11.63 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Norfolk Southern.
Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Wednesday, April 28th. The railroad operator reported $2.66 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.55 by $0.11. The business had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.62 billion. Norfolk Southern had a net margin of 20.27% and a return on equity of 15.83%. The firm’s revenue was up .5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.58 EPS.
Several equities analysts recently commented on NSC shares. BMO Capital Markets increased their price objective on shares of Norfolk Southern from $250.00 to $285.00 and gave the company a “market perform” rating in a research note on Thursday, April 29th. They noted that the move was a valuation call. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised their price target on shares of Norfolk Southern from $250.00 to $290.00 in a research note on Monday, January 11th. Argus increased their price objective on shares of Norfolk Southern from $275.00 to $310.00 and gave the stock a “buy” rating in a research report on Tuesday. Royal Bank of Canada increased their price objective on shares of Norfolk Southern from $234.00 to $254.00 in a research report on Thursday, April 29th. Finally, TD Securities increased their price objective on shares of Norfolk Southern from $305.00 to $315.00 and gave the stock a “buy” rating in a research report on Thursday, April 29th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Norfolk Southern has a consensus rating of “Buy” and a consensus price target of $259.24.
NYSE:NSC traded up $4.62 on Thursday, hitting $287.68. The company had a trading volume of 1,311,281 shares, compared to its average volume of 1,170,335. The stock has a market capitalization of $71.99 billion, a price-to-earnings ratio of 37.02, a PEG ratio of 3.09 and a beta of 1.38. The company has a current ratio of 1.29, a quick ratio of 1.16 and a debt-to-equity ratio of 0.85. The firm has a 50 day moving average of $271.68 and a two-hundred day moving average of $248.06. Norfolk Southern has a 52 week low of $157.48 and a 52 week high of $288.07.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 20th. Stockholders of record on Friday, May 7th will be issued a dividend of $0.99 per share. This represents a $3.96 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date is Thursday, May 6th. Norfolk Southern’s dividend payout ratio is currently 38.30%.
In other news, EVP Ann A. Adams sold 2,460 shares of Norfolk Southern stock in a transaction dated Friday, February 19th. The shares were sold at an average price of $255.00, for a total transaction of $627,300.00. Following the completion of the transaction, the executive vice president now directly owns 9,601 shares in the company, valued at $2,448,255. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.32% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Better Money Decisions LLC bought a new position in shares of Norfolk Southern during the first quarter valued at about $34,000. Clear Perspectives Financial Planning LLC bought a new position in shares of Norfolk Southern during the fourth quarter valued at about $30,000. Vantage Consulting Group Inc bought a new position in shares of Norfolk Southern during the fourth quarter valued at about $31,000. Wealthcare Capital Management LLC bought a new position in shares of Norfolk Southern during the first quarter valued at about $39,000. Finally, Norway Savings Bank lifted its position in shares of Norfolk Southern by 416.7% during the fourth quarter. Norway Savings Bank now owns 155 shares of the railroad operator’s stock valued at $37,000 after purchasing an additional 125 shares in the last quarter. 67.25% of the stock is currently owned by institutional investors.
About Norfolk Southern
Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods in the United States. The company transports industrial products, including agriculture, forest and consumer products, chemicals, and metals and construction materials; and coal, automobiles, and automotive parts.
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