Brokerages expect Norfolk Southern Corp. (NYSE:NSC) to post $2.64 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Norfolk Southern’s earnings, with estimates ranging from $2.61 billion to $2.66 billion. Norfolk Southern posted sales of $2.49 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 6%. The firm is expected to announce its next quarterly earnings results before the market opens on Wednesday, January 24th.
On average, analysts expect that Norfolk Southern will report full-year sales of $2.64 billion for the current year, with estimates ranging from $10.50 billion to $10.54 billion. For the next fiscal year, analysts forecast that the firm will report sales of $10.97 billion per share, with estimates ranging from $10.79 billion to $11.10 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Norfolk Southern.
Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Wednesday, October 25th. The railroad operator reported $1.75 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.64 by $0.11. Norfolk Southern had a return on equity of 14.72% and a net margin of 17.86%. The company had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $2.65 billion. During the same quarter in the prior year, the firm posted $1.55 earnings per share. The firm’s revenue was up 5.8% compared to the same quarter last year.
Several analysts recently commented on the company. Loop Capital cut Norfolk Southern from a “hold” rating to a “sell” rating and set a $133.00 target price on the stock. in a report on Monday, November 27th. Wells Fargo & Co cut Norfolk Southern from an “outperform” rating to a “market perform” rating in a report on Monday, October 16th. Robert W. Baird reiterated a “hold” rating and issued a $136.00 target price on shares of Norfolk Southern in a report on Friday, November 10th. Goldman Sachs Group assumed coverage on Norfolk Southern in a report on Monday, November 13th. They issued a “neutral” rating and a $126.00 target price on the stock. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $75.00 target price (down from $77.00) on shares of Norfolk Southern in a report on Monday, October 2nd. Four analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have given a buy rating to the company’s stock. Norfolk Southern presently has an average rating of “Hold” and a consensus target price of $136.05.
In other Norfolk Southern news, VP Thomas E. Hurlbut sold 2,370 shares of the stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $134.71, for a total transaction of $319,262.70. Following the transaction, the vice president now directly owns 6,370 shares in the company, valued at approximately $858,102.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Thomas E. Hurlbut sold 6,175 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $129.61, for a total value of $800,341.75. Following the transaction, the vice president now owns 7,568 shares in the company, valued at $980,888.48. The disclosure for this sale can be found here. Insiders have sold a total of 12,113 shares of company stock worth $1,594,148 over the last 90 days. Company insiders own 0.36% of the company’s stock.
Several institutional investors have recently bought and sold shares of NSC. Krilogy Financial LLC boosted its holdings in shares of Norfolk Southern by 2.6% during the 2nd quarter. Krilogy Financial LLC now owns 855 shares of the railroad operator’s stock worth $104,000 after buying an additional 22 shares in the last quarter. Sawyer & Company Inc bought a new position in shares of Norfolk Southern in the 4th quarter worth $104,000. AlphaMark Advisors LLC lifted its holdings in shares of Norfolk Southern by 20.7% in the 2nd quarter. AlphaMark Advisors LLC now owns 875 shares of the railroad operator’s stock worth $106,000 after purchasing an additional 150 shares in the last quarter. Harfst & Associates Inc. lifted its holdings in shares of Norfolk Southern by 58.8% in the 2nd quarter. Harfst & Associates Inc. now owns 945 shares of the railroad operator’s stock worth $115,000 after purchasing an additional 350 shares in the last quarter. Finally, Live Your Vision LLC lifted its holdings in shares of Norfolk Southern by 25.6% in the 2nd quarter. Live Your Vision LLC now owns 1,130 shares of the railroad operator’s stock worth $128,000 after purchasing an additional 230 shares in the last quarter. Hedge funds and other institutional investors own 72.45% of the company’s stock.
Norfolk Southern (NYSE NSC) opened at $151.40 on Friday. Norfolk Southern has a 52 week low of $109.27 and a 52 week high of $157.15. The stock has a market capitalization of $43,322.95, a P/E ratio of 23.81, a PEG ratio of 1.67 and a beta of 1.38. The company has a quick ratio of 0.73, a current ratio of 0.83 and a debt-to-equity ratio of 0.73.
Norfolk Southern declared that its board has initiated a share repurchase program on Tuesday, September 26th that allows the company to buyback 50,000,000 outstanding shares. This buyback authorization allows the railroad operator to repurchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.
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Norfolk Southern Company Profile
Norfolk Southern Corporation is a holding company engaged in the rail transportation business. As of December 31, 2016, the Company operated approximately 19,500 miles of road primarily in the East and Midwest. The Company is engaged in the rail transportation of raw materials, intermediate products and finished goods primarily in the Southeast, East and Midwest.
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