Wall Street analysts forecast that Norfolk Souther Corporation (NYSE:NSC) will report sales of $2.63 billion for the current quarter, Zacks reports. Seven analysts have made estimates for Norfolk Souther Corporation’s earnings, with estimates ranging from $2.58 billion to $2.66 billion. Norfolk Souther Corporation posted sales of $2.52 billion during the same quarter last year, which would indicate a positive year over year growth rate of 4.4%. The company is scheduled to issue its next earnings report before the market opens on Wednesday, October 25th.

According to Zacks, analysts expect that Norfolk Souther Corporation will report full-year sales of $2.63 billion for the current year, with estimates ranging from $10.37 billion to $10.47 billion. For the next fiscal year, analysts forecast that the firm will report sales of $10.82 billion per share, with estimates ranging from $10.43 billion to $10.95 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover Norfolk Souther Corporation.

Norfolk Souther Corporation (NYSE:NSC) last announced its quarterly earnings data on Wednesday, July 26th. The railroad operator reported $1.71 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.65 by $0.06. The business had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.64 billion. Norfolk Souther Corporation had a return on equity of 14.45% and a net margin of 17.66%. The company’s revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.36 earnings per share.

Several research analysts have recently issued reports on the company. ValuEngine lowered Norfolk Souther Corporation from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Aegis restated a “hold” rating and issued a $125.00 price target (up from $120.00) on shares of Norfolk Souther Corporation in a research report on Tuesday, October 10th. BMO Capital Markets restated a “hold” rating and issued a $127.00 price target on shares of Norfolk Souther Corporation in a research report on Friday. Cowen and Company restated a “buy” rating and issued a $130.00 price target on shares of Norfolk Souther Corporation in a research report on Tuesday, July 11th. Finally, Royal Bank Of Canada restated a “sell” rating and issued a $117.00 price target on shares of Norfolk Souther Corporation in a research report on Tuesday, August 29th. Four equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and six have given a buy rating to the company’s stock. Norfolk Souther Corporation currently has a consensus rating of “Hold” and a consensus target price of $118.88.

Shares of Norfolk Souther Corporation (NSC) opened at 132.75 on Monday. The stock has a 50 day moving average price of $129.13 and a 200 day moving average price of $120.82. Norfolk Souther Corporation has a one year low of $89.95 and a one year high of $134.52. The firm has a market cap of $38.26 billion, a price-to-earnings ratio of 21.57 and a beta of 1.38.

Norfolk Souther Corporation announced that its board has initiated a stock buyback plan on Tuesday, September 26th that permits the company to repurchase 50,000,000 outstanding shares. This repurchase authorization permits the railroad operator to reacquire shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

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In other Norfolk Souther Corporation news, Chairman James A. Squires sold 24,407 shares of Norfolk Souther Corporation stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $119.95, for a total value of $2,927,619.65. Following the sale, the chairman now owns 76,481 shares of the company’s stock, valued at approximately $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 Norfolk Souther Corporation stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $118.80, for a total value of $35,640.00. Following the completion of the sale, the vice president now directly owns 4,000 shares in the company, valued at approximately $475,200. The disclosure for this sale can be found here. Insiders sold a total of 27,077 shares of company stock worth $3,244,531 in the last three months. Company insiders own 0.36% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in NSC. D Orazio & Associates Inc. raised its stake in shares of Norfolk Souther Corporation by 0.5% in the 1st quarter. D Orazio & Associates Inc. now owns 891 shares of the railroad operator’s stock valued at $100,000 after purchasing an additional 4 shares during the period. Harbour Capital Advisors LLC raised its stake in shares of Norfolk Souther Corporation by 12,069.6% in the 2nd quarter. Harbour Capital Advisors LLC now owns 12,413 shares of the railroad operator’s stock valued at $102,000 after purchasing an additional 12,311 shares during the period. Krilogy Financial LLC raised its stake in shares of Norfolk Souther Corporation by 2.6% in the 2nd quarter. Krilogy Financial LLC now owns 855 shares of the railroad operator’s stock valued at $104,000 after purchasing an additional 22 shares during the period. AlphaMark Advisors LLC raised its stake in shares of Norfolk Souther Corporation by 20.7% in the 2nd quarter. AlphaMark Advisors LLC now owns 875 shares of the railroad operator’s stock valued at $106,000 after purchasing an additional 150 shares during the period. Finally, Parallel Advisors LLC raised its stake in shares of Norfolk Souther Corporation by 29.2% in the 1st quarter. Parallel Advisors LLC now owns 974 shares of the railroad operator’s stock valued at $114,000 after purchasing an additional 220 shares during the period. 70.45% of the stock is currently owned by hedge funds and other institutional investors.

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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Earnings History and Estimates for Norfolk Souther Corporation (NYSE:NSC)

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