Brokerages Anticipate Norfolk Southern Co. (NYSE:NSC) to Post $3.02 Earnings Per Share

Brokerages expect Norfolk Southern Co. (NYSE:NSC) to report earnings of $3.02 per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Norfolk Southern’s earnings. The lowest EPS estimate is $2.97 and the highest is $3.07. Norfolk Southern posted earnings of $2.51 per share in the same quarter last year, which would indicate a positive year over year growth rate of 20.3%. The firm is expected to issue its next quarterly earnings results on Wednesday, October 27th.

On average, analysts expect that Norfolk Southern will report full year earnings of $11.91 per share for the current fiscal year, with EPS estimates ranging from $11.81 to $12.05. For the next year, analysts expect that the company will report earnings of $13.12 per share, with EPS estimates ranging from $12.27 to $13.75. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that cover Norfolk Southern.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Wednesday, July 28th. The railroad operator reported $3.28 EPS for the quarter, topping analysts’ consensus estimates of $2.94 by $0.34. Norfolk Southern had a net margin of 25.98% and a return on equity of 19.12%. The company had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion.

A number of research analysts recently issued reports on NSC shares. Wells Fargo & Company raised their price target on Norfolk Southern from $315.00 to $318.00 and gave the stock an “overweight” rating in a research note on Friday, July 9th. Atlantic Securities assumed coverage on shares of Norfolk Southern in a research note on Monday, July 12th. They issued a “neutral” rating and a $276.00 price objective for the company. Stifel Nicolaus assumed coverage on Norfolk Southern in a report on Monday, June 21st. They issued a “hold” rating on the stock. Evercore ISI raised shares of Norfolk Southern from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $301.00 to $303.00 in a research report on Friday, July 9th. Finally, Morgan Stanley boosted their target price on shares of Norfolk Southern from $165.00 to $175.00 and gave the company an “underweight” rating in a report on Monday, May 24th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $272.10.

In other Norfolk Southern news, CMO Alan H. Shaw sold 5,148 shares of Norfolk Southern stock in a transaction that occurred on Thursday, July 29th. The stock was sold at an average price of $256.93, for a total value of $1,322,675.64. Following the transaction, the chief marketing officer now directly owns 31,399 shares of the company’s stock, valued at approximately $8,067,345.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.31% of the stock is owned by corporate insiders.

Large investors have recently bought and sold shares of the company. Better Money Decisions LLC bought a new position in Norfolk Southern in the first quarter worth approximately $34,000. Cranbrook Wealth Management LLC purchased a new stake in shares of Norfolk Southern during the 1st quarter worth approximately $35,000. Wagner Wealth Management LLC purchased a new position in shares of Norfolk Southern in the first quarter valued at $36,000. Meridian Wealth Partners LLC lifted its position in Norfolk Southern by 66.0% during the first quarter. Meridian Wealth Partners LLC now owns 166 shares of the railroad operator’s stock valued at $44,000 after purchasing an additional 66 shares during the last quarter. Finally, Parisi Gray Wealth Management purchased a new position in Norfolk Southern in the second quarter worth about $48,000. Hedge funds and other institutional investors own 72.27% of the company’s stock.

NSC stock traded up $3.87 during midday trading on Wednesday, hitting $248.66. The company’s stock had a trading volume of 39,731 shares, compared to its average volume of 1,174,646. Norfolk Southern has a 52-week low of $196.15 and a 52-week high of $295.14. The firm has a market capitalization of $61.41 billion, a P/E ratio of 22.67, a PEG ratio of 1.75 and a beta of 1.29. The company has a quick ratio of 0.99, a current ratio of 1.08 and a debt-to-equity ratio of 0.88. The firm has a 50-day simple moving average of $258.57 and a 200-day simple moving average of $267.27.

The business also recently declared a quarterly dividend, which was paid on Friday, August 20th. Stockholders of record on Monday, August 9th were issued a $1.09 dividend. This is a positive change from Norfolk Southern’s previous quarterly dividend of $0.99. This represents a $4.36 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date was Friday, August 6th. Norfolk Southern’s dividend payout ratio (DPR) is presently 47.14%.

About Norfolk Southern

Norfolk Southern Corp. is a transportation company, which owns a freight railroad. It engages in the rail transportation of raw materials, intermediate products, and finished goods primarily in the Southeast, East, and Midwest and, via interchange with rail carriers, to and from the rest of the United States.

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