$2.82 Billion in Sales Expected for Norfolk Southern Co. (NYSE:NSC) This Quarter

Equities research analysts forecast that Norfolk Southern Co. (NYSE:NSC) will report $2.82 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Norfolk Southern’s earnings. The highest sales estimate is $2.83 billion and the lowest is $2.81 billion. Norfolk Southern posted sales of $2.51 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 12.4%. The firm is scheduled to announce its next earnings report on Wednesday, October 27th.

On average, analysts expect that Norfolk Southern will report full year sales of $11.01 billion for the current fiscal year, with estimates ranging from $10.97 billion to $11.10 billion. For the next financial year, analysts forecast that the company will report sales of $11.49 billion, with estimates ranging from $11.31 billion to $11.79 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Norfolk Southern.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Wednesday, July 28th. The railroad operator reported $3.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.94 by $0.34. The firm had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.75 billion. Norfolk Southern had a net margin of 25.98% and a return on equity of 19.12%.

NSC has been the subject of several recent research reports. Evercore ISI upgraded Norfolk Southern from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $301.00 to $303.00 in a report on Friday, July 9th. Stifel Nicolaus started coverage on Norfolk Southern in a report on Monday, June 21st. They issued a “hold” rating for the company. Wells Fargo & Company boosted their target price on shares of Norfolk Southern from $315.00 to $318.00 and gave the stock an “overweight” rating in a report on Friday, July 9th. Morgan Stanley boosted their target price on shares of Norfolk Southern from $165.00 to $175.00 and gave the stock an “underweight” rating in a report on Monday, May 24th. Finally, Atlantic Securities started coverage on shares of Norfolk Southern in a report on Monday, July 12th. They issued a “neutral” rating and a $276.00 target price for the company. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Norfolk Southern presently has a consensus rating of “Hold” and a consensus price target of $272.10.

Shares of NSC traded up $3.87 during trading hours on Friday, reaching $248.66. 39,731 shares of the company traded hands, compared to its average volume of 1,174,646. The firm has a market cap of $61.41 billion, a price-to-earnings ratio of 22.67, a PEG ratio of 1.75 and a beta of 1.29. Norfolk Southern has a 12-month low of $196.15 and a 12-month high of $295.14. The company has a current ratio of 1.08, a quick ratio of 0.99 and a debt-to-equity ratio of 0.88. The stock’s fifty day moving average price is $258.57 and its 200 day moving average price is $267.27.

The business also recently announced a quarterly dividend, which was paid on Friday, August 20th. Stockholders of record on Monday, August 9th were paid a dividend of $1.09 per share. The ex-dividend date was Friday, August 6th. This represents a $4.36 dividend on an annualized basis and a dividend yield of 1.75%. This is a boost from Norfolk Southern’s previous quarterly dividend of $0.99. Norfolk Southern’s payout ratio is currently 47.14%.

In other news, CMO Alan H. Shaw sold 5,148 shares of the business’s stock in a transaction dated Thursday, July 29th. The shares were sold at an average price of $256.93, for a total transaction of $1,322,675.64. Following the completion of the sale, the chief marketing officer now owns 31,399 shares of the company’s stock, valued at $8,067,345.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.31% of the stock is owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sunflower Bank N.A. acquired a new position in Norfolk Southern in the 2nd quarter valued at about $927,000. Newbridge Financial Services Group Inc. boosted its holdings in Norfolk Southern by 103.2% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 315 shares of the railroad operator’s stock valued at $84,000 after purchasing an additional 160 shares during the last quarter. BDO Wealth Advisors LLC boosted its holdings in Norfolk Southern by 1.0% in the 2nd quarter. BDO Wealth Advisors LLC now owns 4,163 shares of the railroad operator’s stock valued at $1,105,000 after purchasing an additional 43 shares during the last quarter. Sawtooth Solutions LLC boosted its holdings in Norfolk Southern by 20.2% in the 2nd quarter. Sawtooth Solutions LLC now owns 1,141 shares of the railroad operator’s stock valued at $303,000 after purchasing an additional 192 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd boosted its holdings in Norfolk Southern by 17.3% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 2,178 shares of the railroad operator’s stock valued at $578,000 after purchasing an additional 322 shares during the last quarter. Hedge funds and other institutional investors own 72.27% of the company’s stock.

Norfolk Southern Company Profile

Norfolk Southern Corp. is a transportation company, which owns a freight railroad. It engages in the rail transportation of raw materials, intermediate products, and finished goods primarily in the Southeast, East, and Midwest and, via interchange with rail carriers, to and from the rest of the United States.

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