Norfolk Southern Co. (NYSE:NSC) Expected to Earn Q2 2024 Earnings of $2.85 Per Share

Norfolk Southern Co. (NYSE:NSC) – Equities researchers at Zacks Research reduced their Q2 2024 earnings estimates for shares of Norfolk Southern in a research report issued on Friday, April 19th. Zacks Research analyst M. Basu now forecasts that the railroad operator will post earnings of $2.85 per share for the quarter, down from their previous estimate of $3.04. The consensus estimate for Norfolk Southern’s current full-year earnings is $11.98 per share. Zacks Research also issued estimates for Norfolk Southern’s Q3 2024 earnings at $3.17 EPS, Q4 2024 earnings at $3.13 EPS, Q1 2025 earnings at $2.84 EPS, Q3 2025 earnings at $3.44 EPS, Q1 2026 earnings at $2.96 EPS and FY2026 earnings at $14.28 EPS.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Friday, January 26th. The railroad operator reported $2.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.87 by ($0.04). Norfolk Southern had a return on equity of 21.06% and a net margin of 15.03%. The company had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter last year, the company posted $3.42 EPS. The business’s revenue was down 4.2% compared to the same quarter last year.

Other research analysts have also issued reports about the stock. JPMorgan Chase & Co. raised their target price on shares of Norfolk Southern from $240.00 to $275.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. BMO Capital Markets decreased their target price on Norfolk Southern from $250.00 to $245.00 and set a “market perform” rating for the company in a research note on Monday, January 29th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $270.00 price target on shares of Norfolk Southern in a research report on Wednesday, April 10th. Stifel Nicolaus raised their price objective on shares of Norfolk Southern from $233.00 to $244.00 and gave the stock a “hold” rating in a research note on Friday, April 12th. Finally, Loop Capital increased their price target on shares of Norfolk Southern from $261.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $262.74.

Norfolk Southern Trading Up 0.2 %

NYSE:NSC opened at $245.03 on Monday. The company’s 50 day moving average is $252.66 and its 200-day moving average is $232.09. The company has a quick ratio of 1.14, a current ratio of 1.24 and a debt-to-equity ratio of 1.34. Norfolk Southern has a 12 month low of $183.09 and a 12 month high of $263.66. The firm has a market cap of $60.33 billion, a price-to-earnings ratio of 30.55, a P/E/G ratio of 3.28 and a beta of 1.30.

Hedge Funds Weigh In On Norfolk Southern

Institutional investors and hedge funds have recently modified their holdings of the business. Provence Wealth Management Group acquired a new position in shares of Norfolk Southern during the third quarter worth about $28,000. Exchange Traded Concepts LLC boosted its position in Norfolk Southern by 662.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 122 shares of the railroad operator’s stock valued at $29,000 after purchasing an additional 106 shares during the last quarter. Operose Advisors LLC bought a new stake in shares of Norfolk Southern during the 3rd quarter worth approximately $32,000. Orion Capital Management LLC acquired a new position in Norfolk Southern during the third quarter worth $32,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new stake in Norfolk Southern in the fourth quarter valued at $32,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Norfolk Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Friday, May 3rd will be paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.20%. Norfolk Southern’s payout ratio is 67.33%.

Norfolk Southern Company Profile

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 agriculture, forest, and consumer products comprising soybeans, wheat, corn, fertilizers, livestock and poultry feed, food products, food oils, flour, sweeteners, ethanol, lumber and wood products, pulp board and paper products, wood fibers, wood pulp, beverages, and canned goods; chemicals consist of sulfur and related chemicals, petroleum products comprising crude oil, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, sand, and natural gas liquids; metals and construction materials, such as steel, aluminum products, machinery, scrap metals, cement, aggregates, minerals, clay, transportation equipment, and military-related products; and automotive, including finished motor vehicles and automotive parts, as well as coal.