Norfolk Souther Corporation (NSC) Expected to Post Quarterly Sales of $2.60 Billion
Brokerages expect Norfolk Souther Corporation (NYSE:NSC) to announce sales of $2.60 billion for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Norfolk Souther Corporation’s earnings. The highest sales estimate is $2.66 billion and the lowest is $2.57 billion. Norfolk Souther Corporation reported sales of $2.52 billion in the same quarter last year, which indicates a positive year over year growth rate of 3.2%. The firm is expected to issue its next earnings report on Wednesday, October 25th.
On average, analysts expect that Norfolk Souther Corporation will report full-year sales of $2.60 billion for the current financial year, with estimates ranging from $10.32 billion to $10.48 billion. For the next year, analysts forecast that the company will report sales of $10.78 billion per share, with estimates ranging from $10.41 billion to $10.95 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow Norfolk Souther Corporation.
Norfolk Souther Corporation (NYSE:NSC) last announced its earnings results on Wednesday, July 26th. The railroad operator reported $1.71 EPS for the quarter, beating analysts’ consensus estimates of $1.65 by $0.06. The firm had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.64 billion. Norfolk Souther Corporation had a return on equity of 14.45% and a net margin of 17.66%. Norfolk Souther Corporation’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.36 EPS.
Several research analysts have issued reports on NSC shares. Zacks Investment Research raised Norfolk Souther Corporation from a “hold” rating to a “buy” rating and set a $134.00 price target on the stock in a report on Tuesday, June 27th. ValuEngine raised shares of Norfolk Souther Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Cowen and Company reissued a “buy” rating and set a $130.00 target price on shares of Norfolk Souther Corporation in a research note on Tuesday, July 11th. Royal Bank Of Canada reissued a “sell” rating and set a $117.00 target price on shares of Norfolk Souther Corporation in a research note on Tuesday, August 29th. Finally, Scotiabank downgraded shares of Norfolk Souther Corporation from a “sector outperform” rating to a “sector perform” rating in a research note on Thursday, July 6th. Four analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have assigned a buy rating to the company’s stock. Norfolk Souther Corporation has an average rating of “Hold” and an average price target of $115.00.
In related news, Chairman James A. Squires sold 24,407 shares of the stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $119.95, for a total value of $2,927,619.65. Following the completion of the transaction, the chairman now owns 76,481 shares of the company’s stock, valued at $9,173,895.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Thomas E. Hurlbut sold 300 shares of the stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $118.80, for a total transaction of $35,640.00. Following the completion of the transaction, the vice president now directly owns 4,000 shares of the company’s stock, valued at approximately $475,200. The disclosure for this sale can be found here. Insiders have sold 27,077 shares of company stock valued at $3,244,531 in the last ninety days. 0.36% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of the stock. BlackRock Inc. raised its position in Norfolk Souther Corporation by 3.6% in the second quarter. BlackRock Inc. now owns 20,251,999 shares of the railroad operator’s stock worth $2,464,667,000 after purchasing an additional 700,567 shares in the last quarter. Vanguard Group Inc. grew its stake in Norfolk Souther Corporation by 3.2% during the second quarter. Vanguard Group Inc. now owns 20,097,333 shares of the railroad operator’s stock worth $2,445,845,000 after buying an additional 631,018 shares during the last quarter. State Street Corp grew its stake in Norfolk Souther Corporation by 2.2% during the first quarter. State Street Corp now owns 12,960,797 shares of the railroad operator’s stock worth $1,451,226,000 after buying an additional 281,088 shares during the last quarter. FMR LLC grew its stake in Norfolk Souther Corporation by 13.0% during the second quarter. FMR LLC now owns 6,618,986 shares of the railroad operator’s stock worth $805,530,000 after buying an additional 762,416 shares during the last quarter. Finally, Lazard Asset Management LLC grew its stake in Norfolk Souther Corporation by 17.1% during the second quarter. Lazard Asset Management LLC now owns 6,343,533 shares of the railroad operator’s stock worth $772,007,000 after buying an additional 925,496 shares during the last quarter. 70.64% of the stock is owned by hedge funds and other institutional investors.
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Shares of Norfolk Souther Corporation (NSC) opened at 126.97 on Friday. The firm’s 50-day moving average price is $118.93 and its 200-day moving average price is $118.22. Norfolk Souther Corporation has a one year low of $89.95 and a one year high of $127.94. The firm has a market cap of $36.59 billion, a PE ratio of 20.63 and a beta of 1.32.
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Monday, August 7th were given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date was Thursday, August 3rd. Norfolk Souther Corporation’s dividend payout ratio is currently 39.61%.
Norfolk Souther Corporation 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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