Brokerages Anticipate Norfolk Southern Co. (NYSE:NSC) Will Announce Quarterly Sales of $3.09 Billion

Analysts expect that Norfolk Southern Co. (NYSE:NSCGet Rating) will post $3.09 billion in sales for the current quarter, according to Zacks. Five analysts have provided estimates for Norfolk Southern’s earnings, with the highest sales estimate coming in at $3.17 billion and the lowest estimate coming in at $3.04 billion. Norfolk Southern posted sales of $2.80 billion during the same quarter last year, which would indicate a positive year over year growth rate of 10.4%. The business is scheduled to report its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Norfolk Southern will report full year sales of $12.28 billion for the current year, with estimates ranging from $12.19 billion to $12.34 billion. For the next financial year, analysts forecast that the business will report sales of $12.61 billion, with estimates ranging from $12.25 billion to $12.90 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover Norfolk Southern.

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

Several brokerages recently weighed in on NSC. Royal Bank of Canada boosted their price objective on shares of Norfolk Southern from $262.00 to $273.00 in a research note on Thursday, January 27th. StockNews.com assumed coverage on shares of Norfolk Southern in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Susquehanna lowered their target price on shares of Norfolk Southern from $356.00 to $350.00 and set a “positive” rating for the company in a research note on Thursday, April 7th. Susquehanna Bancshares cut their price target on shares of Norfolk Southern from $356.00 to $350.00 in a research report on Thursday, April 7th. Finally, The Goldman Sachs Group lifted their price target on shares of Norfolk Southern from $313.00 to $320.00 in a research report on Wednesday, January 26th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Norfolk Southern currently has an average rating of “Buy” and an average target price of $309.41.

NSC traded up $3.26 on Monday, reaching $249.32. The stock had a trading volume of 1,116,431 shares, compared to its average volume of 1,423,140. The company has a current ratio of 0.96, a quick ratio of 0.87 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $59.42 billion, a price-to-earnings ratio of 20.12, a price-to-earnings-growth ratio of 1.70 and a beta of 1.36. Norfolk Southern has a fifty-two week low of $238.62 and a fifty-two week high of $299.20. The firm has a 50-day moving average of $265.24 and a 200-day moving average of $274.44.

The company also recently declared a quarterly dividend, which will be paid on Friday, May 20th. Stockholders of record on Friday, May 6th will be issued a $1.24 dividend. The ex-dividend date of this dividend is Thursday, May 5th. This represents a $4.96 annualized dividend and a dividend yield of 1.99%. Norfolk Southern’s payout ratio is currently 40.03%.

Norfolk Southern declared that its board has approved a stock buyback program on Tuesday, March 29th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the railroad operator to purchase up to 14.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

In related news, Director Steven F. Leer sold 700 shares of the company’s stock in a transaction on Monday, March 14th. The shares were sold at an average price of $265.51, for a total value of $185,857.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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. 0.31% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in NSC. Mackenzie Financial Corp boosted its position in Norfolk Southern by 32.6% during the third quarter. Mackenzie Financial Corp now owns 16,000 shares of the railroad operator’s stock valued at $3,828,000 after buying an additional 3,936 shares during the period. Ieq Capital LLC boosted its holdings in Norfolk Southern by 17.7% during the 3rd quarter. Ieq Capital LLC now owns 3,037 shares of the railroad operator’s stock valued at $726,000 after acquiring an additional 456 shares during the period. Fort Washington Investment Advisors Inc. OH grew its position in Norfolk Southern by 5.0% during the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 3,158 shares of the railroad operator’s stock worth $756,000 after acquiring an additional 150 shares during the last quarter. JustInvest LLC increased its stake in Norfolk Southern by 19.5% in the 3rd quarter. JustInvest LLC now owns 3,803 shares of the railroad operator’s stock worth $910,000 after purchasing an additional 621 shares during the period. Finally, Commerce Bank lifted its position in Norfolk Southern by 1.9% in the third quarter. Commerce Bank now owns 46,668 shares of the railroad operator’s stock valued at $11,166,000 after purchasing an additional 849 shares during the last quarter. 73.63% of the stock is currently owned by institutional investors.

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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