$2.69 Billion in Sales Expected for Norfolk Southern Corp. (NSC) This Quarter

Analysts expect Norfolk Southern Corp. (NYSE:NSC) to announce $2.69 billion in sales for the current quarter, Zacks reports. Six analysts have made estimates for Norfolk Southern’s earnings. The lowest sales estimate is $2.63 billion and the highest is $2.71 billion. Norfolk Southern reported sales of $2.58 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 4.3%. The company is expected to issue its next earnings report on Wednesday, April 25th.

On average, analysts expect that Norfolk Southern will report full year sales of $2.69 billion for the current financial year, with estimates ranging from $10.75 billion to $11.21 billion. For the next financial year, analysts expect that the business will post sales of $11.45 billion per share, with estimates ranging from $11.04 billion to $11.73 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Norfolk Southern.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Wednesday, January 24th. The railroad operator reported $1.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.56 by $0.13. The company had revenue of $2.67 billion during the quarter, compared to analysts’ expectations of $2.66 billion. Norfolk Southern had a net margin of 51.22% and a return on equity of 14.16%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.42 earnings per share.

A number of equities analysts have weighed in on the stock. Cleveland Research restated a “hold” rating on shares of Norfolk Southern in a research report on Monday, January 15th. Loop Capital upped their price objective on shares of Norfolk Southern to $144.00 and gave the stock a “sell” rating in a research report on Friday, January 12th. Scotiabank raised shares of Norfolk Southern from a “sector perform” rating to a “buy” rating and set a $165.00 target price for the company in a report on Friday, January 12th. Royal Bank of Canada reaffirmed a “sell” rating and set a $137.00 target price on shares of Norfolk Southern in a report on Tuesday, January 9th. Finally, Credit Suisse Group reaffirmed a “buy” rating and set a $177.00 target price on shares of Norfolk Southern in a report on Wednesday, January 17th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $140.85.

In related news, VP Thomas E. Hurlbut sold 2,370 shares of the company’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $134.71, for a total value of $319,262.70. Following the completion of the sale, the vice president now owns 6,370 shares of the company’s stock, valued at $858,102.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Thomas E. Hurlbut sold 467 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $150.17, for a total transaction of $70,129.39. Following the completion of the sale, the vice president now directly owns 5,000 shares of the company’s stock, valued at approximately $750,850. The disclosure for this sale can be found here. Insiders sold 19,012 shares of company stock valued at $2,690,734 in the last three months. 0.36% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. BB&T Investment Services Inc. purchased a new stake in shares of Norfolk Southern in the second quarter valued at about $287,000. Patten Group Inc. grew its holdings in shares of Norfolk Southern by 533.7% in the third quarter. Patten Group Inc. now owns 55,343 shares of the railroad operator’s stock valued at $1,135,000 after purchasing an additional 46,610 shares during the period. Stonebridge Capital Advisors LLC purchased a new stake in shares of Norfolk Southern in the third quarter valued at about $296,000. Carroll Financial Associates Inc. grew its holdings in shares of Norfolk Southern by 29.2% in the fourth quarter. Carroll Financial Associates Inc. now owns 5,134 shares of the railroad operator’s stock valued at $743,000 after purchasing an additional 1,161 shares during the period. Finally, McCollum Christoferson Group LLC purchased a new stake in shares of Norfolk Southern in the fourth quarter valued at about $5,675,000. 72.87% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern (NSC) opened at $143.05 on Wednesday. The company has a current ratio of 0.84, a quick ratio of 0.76 and a debt-to-equity ratio of 0.56. The firm has a market cap of $39,364.85, a price-to-earnings ratio of 20.91, a price-to-earnings-growth ratio of 1.39 and a beta of 1.29. Norfolk Southern has a 12-month low of $109.27 and a 12-month high of $157.15.

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 10th. Investors of record on Friday, February 2nd will be issued a $0.72 dividend. The ex-dividend date of this dividend is Thursday, February 1st. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.01%. This is a positive change from Norfolk Southern’s previous quarterly dividend of $0.61. Norfolk Southern’s dividend payout ratio is currently 15.38%.

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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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