Brokerages Expect Norfolk Southern Corp. (NSC) Will Post Earnings of $1.56 Per Share

Equities research analysts predict that Norfolk Southern Corp. (NYSE:NSC) will announce earnings of $1.56 per share for the current fiscal quarter, according to Zacks. Six analysts have issued estimates for Norfolk Southern’s earnings, with the highest EPS estimate coming in at $1.62 and the lowest estimate coming in at $1.44. Norfolk Southern posted earnings per share of $1.42 during the same quarter last year, which would indicate a positive year over year growth rate of 9.9%. The business is expected to report its next quarterly earnings report before the market opens on Wednesday, January 24th.

According to Zacks, analysts expect that Norfolk Southern will report full year earnings of $6.48 per share for the current fiscal year, with EPS estimates ranging from $6.37 to $6.55. For the next financial year, analysts expect that the company will report earnings of $7.54 per share, with EPS estimates ranging from $6.65 to $8.68. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that that provide coverage for Norfolk Southern.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Wednesday, October 25th. The railroad operator reported $1.75 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.64 by $0.11. The business had revenue of $2.67 billion for the quarter, compared to analysts’ expectations of $2.65 billion. Norfolk Southern had a return on equity of 14.72% and a net margin of 17.86%. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.55 EPS.

NSC has been the topic of several analyst reports. ValuEngine lowered shares of Norfolk Southern from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Royal Bank of Canada reaffirmed a “sell” rating and set a $137.00 price target on shares of Norfolk Southern in a research report on Tuesday, January 9th. Credit Suisse Group reaffirmed a “buy” rating and set a $177.00 price target on shares of Norfolk Southern in a research report on Wednesday. BMO Capital Markets reaffirmed a “hold” rating and set a $127.00 price target on shares of Norfolk Southern in a research report on Friday, October 20th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Norfolk Southern from $121.00 to $132.00 and gave the company a “neutral” rating in a research report on Thursday, October 12th. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $136.05.

In other news, VP Thomas E. Hurlbut sold 2,370 shares of the company’s stock in a transaction 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 sale, the vice president now owns 6,370 shares of the company’s stock, valued at $858,102.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Michael Joseph Wheeler sold 3,568 shares of the company’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $133.00, for a total value of $474,544.00. Following the sale, the chief operating officer now directly owns 15,837 shares in the company, valued at approximately $2,106,321. The disclosure for this sale can be found here. In the last three months, insiders sold 12,113 shares of company stock worth $1,594,148. 0.36% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the company. Sawyer & Company Inc purchased a new stake in shares of Norfolk Southern during the fourth quarter worth $104,000. Krilogy Financial LLC increased its position in shares of Norfolk Southern by 2.6% during the second quarter. Krilogy Financial LLC now owns 855 shares of the railroad operator’s stock worth $104,000 after acquiring an additional 22 shares during the period. AlphaMark Advisors LLC increased its position in shares of Norfolk Southern by 20.7% during the second quarter. AlphaMark Advisors LLC now owns 875 shares of the railroad operator’s stock worth $106,000 after acquiring an additional 150 shares during the period. Harfst & Associates Inc. increased its position in shares of Norfolk Southern by 58.8% during the second quarter. Harfst & Associates Inc. now owns 945 shares of the railroad operator’s stock worth $115,000 after acquiring an additional 350 shares during the period. Finally, QCI Asset Management Inc. NY increased its position in shares of Norfolk Southern by 0.5% during the second quarter. QCI Asset Management Inc. NY now owns 1,099 shares of the railroad operator’s stock worth $134,000 after acquiring an additional 5 shares during the period. 72.45% of the stock is currently owned by institutional investors and hedge funds.

Shares of Norfolk Southern (NYSE NSC) traded down $0.64 during trading on Friday, hitting $153.41. The stock had a trading volume of 1,757,000 shares, compared to its average volume of 1,592,525. The firm has a market cap of $43,900.00, a PE ratio of 24.39, a P/E/G ratio of 1.70 and a beta of 1.37. Norfolk Southern has a fifty-two week low of $109.27 and a fifty-two week high of $157.15. The company has a current ratio of 0.83, a quick ratio of 0.73 and a debt-to-equity ratio of 0.73.

Norfolk Southern announced that its Board of Directors has initiated a share repurchase plan on Tuesday, September 26th that permits the company to repurchase 50,000,000 outstanding shares. This repurchase authorization permits the railroad operator to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership 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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Earnings History and Estimates for Norfolk Southern (NYSE:NSC)

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