Posted by admin on May 30th, 2022

Equities analysts expect Norfolk Southern Co. (NYSE:NSC – Get Rating) to post $3.09 billion in sales for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Norfolk Southern’s earnings. The highest sales estimate is $3.17 billion and the lowest is $3.04 billion. Norfolk Southern reported sales of $2.80 billion during the same quarter last year, which would suggest a positive year over year growth rate of 10.4%. The business is expected to report its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Norfolk Southern will report full year sales of $12.28 billion for the current fiscal year, with estimates ranging from $12.19 billion to $12.34 billion. For the next fiscal year, analysts anticipate that the company will post sales of $12.61 billion, with estimates ranging from $12.25 billion to $12.90 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that that provide coverage for Norfolk Southern.

Norfolk Southern (NYSE:NSC – Get Rating) last posted its quarterly earnings data on Wednesday, April 27th. The railroad operator reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.91 by $0.02. Norfolk Southern had a return on equity of 21.95% and a net margin of 26.58%. The business had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.83 billion. During the same period in the prior year, the company earned $2.66 earnings per share. The company’s revenue was up 10.5% compared to the same quarter last year.

Several research firms have recently commented on NSC. Citigroup cut Norfolk Southern from a “buy” rating to a “neutral” rating and cut their price target for the stock from $345.00 to $260.00 in a research note on Thursday, May 19th. Susquehanna Bancshares cut their price target on Norfolk Southern from $356.00 to $350.00 in a research note on Thursday, April 7th. TD Securities upped their price target on Norfolk Southern from $300.00 to $305.00 and gave the stock a “buy” rating in a research note on Thursday, April 28th. Zacks Investment Research upgraded Norfolk Southern from a “hold” rating to a “buy” rating and set a $299.00 price target for the company in a research note on Tuesday, March 29th. Finally, StockNews.com initiated coverage on Norfolk Southern in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Two research analysts have rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $304.41.

In related news, Director Steven F. Leer sold 700 shares of the stock in a transaction on Monday, March 14th. The stock was sold at an average price of $265.51, for a total transaction of $185,857.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Alan H. Shaw sold 1,000 shares of the stock in a transaction on Tuesday, March 1st. The shares were sold at an average price of $256.70, for a total value of $256,700.00. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Cornerstone Wealth Management LLC boosted its stake in shares of Norfolk Southern by 1.4% during the third quarter. Cornerstone Wealth Management LLC now owns 2,628 shares of the railroad operator’s stock valued at $629,000 after acquiring an additional 37 shares during the last quarter. Equitable Trust Co. boosted its stake in Norfolk Southern by 1.7% in the 4th quarter. Equitable Trust Co. now owns 2,261 shares of the railroad operator’s stock worth $674,000 after buying an additional 38 shares during the last quarter. First Bank & Trust boosted its stake in Norfolk Southern by 2.9% in the 4th quarter. First Bank & Trust now owns 1,369 shares of the railroad operator’s stock worth $407,000 after buying an additional 38 shares during the last quarter. Foster & Motley Inc. boosted its stake in Norfolk Southern by 2.9% in the 4th quarter. Foster & Motley Inc. now owns 1,377 shares of the railroad operator’s stock worth $410,000 after buying an additional 39 shares during the last quarter. Finally, Centric Wealth Management boosted its stake in Norfolk Southern by 1.3% in the 1st quarter. Centric Wealth Management now owns 3,025 shares of the railroad operator’s stock worth $863,000 after buying an additional 39 shares during the last quarter. 73.63% of the stock is currently owned by institutional investors and hedge funds.

Norfolk Southern stock opened at $241.03 on Monday. Norfolk Southern has a 12 month low of $222.54 and a 12 month high of $299.20. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.96 and a quick ratio of 0.87. The business has a 50 day simple moving average of $258.65 and a 200-day simple moving average of $270.91. The stock has a market capitalization of $57.45 billion, a PE ratio of 19.45, a price-to-earnings-growth ratio of 1.66 and a beta of 1.36.

Norfolk Southern declared that its Board of Directors has authorized a share repurchase plan on Tuesday, March 29th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the railroad operator to reacquire up to 14.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

The company also recently declared a quarterly dividend, which was paid on Friday, May 20th. Stockholders of record on Friday, May 6th were given a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date was Thursday, May 5th. Norfolk Southern’s dividend payout ratio is currently 40.03%.

About Norfolk Southern (Get Rating)

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, scrap paper, beverages, canned goods, and consumer products; chemicals consist of sulfur and related chemicals, petroleum products, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, and sand; 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.

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