Norfolk Southern (NSC) Expected to Announce Earnings of $2.23 Per Share

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Equities research analysts predict that Norfolk Southern (NYSE:NSC) will post earnings per share of $2.23 for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Norfolk Southern’s earnings, with estimates ranging from $2.15 to $2.31. Norfolk Southern posted earnings of $1.71 per share in the same quarter last year, which would indicate a positive year over year growth rate of 30.4%. The firm is expected to report its next quarterly earnings report on Wednesday, July 25th.

On average, analysts expect that Norfolk Southern will report full year earnings of $8.58 per share for the current financial year, with EPS estimates ranging from $8.30 to $8.75. For the next year, analysts anticipate that the business will post earnings of $9.48 per share, with EPS estimates ranging from $8.86 to $9.80. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that cover Norfolk Southern.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Wednesday, April 25th. The railroad operator reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.16. The firm had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.68 billion. Norfolk Southern had a return on equity of 14.04% and a net margin of 51.65%. Norfolk Southern’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.48 earnings per share.

A number of analysts recently issued reports on NSC shares. Zacks Investment Research upgraded Norfolk Southern from a “hold” rating to a “buy” rating and set a $166.00 price target for the company in a report on Monday, January 29th. Cowen reiterated a “buy” rating and issued a $167.00 price target on shares of Norfolk Southern in a report on Wednesday, April 25th. Scotiabank set a $167.00 price target on Norfolk Southern and gave the company a “buy” rating in a report on Wednesday, April 25th. ValuEngine upgraded Norfolk Southern from a “hold” rating to a “buy” rating in a report on Thursday, April 26th. Finally, UBS boosted their price target on Norfolk Southern from $186.00 to $192.00 and gave the company a “buy” rating in a report on Thursday, April 26th. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $144.90.

In other news, VP Thomas E. Hurlbut sold 2,760 shares of the company’s stock in a transaction on Friday, May 11th. The stock was sold at an average price of $152.00, for a total transaction of $419,520.00. Following the transaction, the vice president now directly owns 2,760 shares of the company’s stock, valued at $419,520. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Thomas E. Hurlbut sold 2,762 shares of the company’s stock in a transaction on Friday, April 27th. The stock was sold at an average price of $145.51, for a total value of $401,898.62. Following the transaction, the vice president now directly owns 5,432 shares in the company, valued at $790,410.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,110 shares of company stock worth $2,118,405. Insiders own 0.23% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Highlander Capital Management LLC acquired a new position in shares of Norfolk Southern during the first quarter worth $106,000. Arcadia Investment Management Corp MI increased its position in shares of Norfolk Southern by 165.1% during the fourth quarter. Arcadia Investment Management Corp MI now owns 835 shares of the railroad operator’s stock worth $121,000 after purchasing an additional 520 shares in the last quarter. NuWave Investment Management LLC acquired a new position in shares of Norfolk Southern during the first quarter worth $124,000. Corbyn Investment Management Inc. MD acquired a new position in shares of Norfolk Southern in the 1st quarter valued at $130,000. Finally, Certified Advisory Corp acquired a new position in shares of Norfolk Southern in the 4th quarter valued at $137,000. 73.01% of the stock is currently owned by institutional investors and hedge funds.

Shares of Norfolk Southern traded down $2.34, reaching $149.46, during trading hours on Friday, according to MarketBeat.com. The stock had a trading volume of 61,210 shares, compared to its average volume of 1,897,534. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.94 and a current ratio of 1.04. The firm has a market capitalization of $43.11 billion, a price-to-earnings ratio of 22.84, a PEG ratio of 1.48 and a beta of 1.31. Norfolk Southern has a 52-week low of $111.44 and a 52-week high of $157.15.

The business also recently announced a quarterly dividend, which will be paid on Monday, June 11th. Shareholders of record on Friday, May 4th will be issued a dividend of $0.72 per share. The ex-dividend date is Thursday, May 3rd. This represents a $2.88 dividend on an annualized basis and a yield of 1.93%. Norfolk Southern’s dividend payout ratio is currently 43.57%.

Norfolk Southern Company Profile

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. It also transports overseas freight through various Atlantic and Gulf Coast ports, as well as coal, automotive, and industrial products; and provides commuter passenger services.

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Earnings History and Estimates for Norfolk Southern (NYSE:NSC)

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