Brokerages expect Norfolk Southern Corp. (NYSE:NSC) to announce $2.69 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued 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 indicates a positive year-over-year growth rate of 4.3%. The firm is scheduled to announce its next earnings results on Wednesday, April 25th.
According to Zacks, 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 fiscal year, analysts forecast 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 calculations are an average based on a survey of sell-side analysts that that provide coverage for Norfolk Southern.
Norfolk Southern (NYSE:NSC) last released its earnings results on Wednesday, January 24th. The railroad operator reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.13. The business had revenue of $2.67 billion for the quarter, compared to the consensus estimate of $2.66 billion. Norfolk Southern had a return on equity of 14.16% and a net margin of 51.22%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.42 earnings per share.
In other Norfolk Southern news, VP Thomas E. Hurlbut sold 467 shares of Norfolk Southern stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $150.17, for a total value of $70,129.39. Following the sale, the vice president now owns 5,000 shares in the company, valued at $750,850. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Thomas E. Hurlbut sold 1,000 shares of Norfolk Southern stock in a transaction on Friday, February 16th. The shares were sold at an average price of $142.90, for a total value of $142,900.00. The disclosure for this sale can be found here. Insiders sold 13,166 shares of company stock worth $1,958,040 in the last 90 days. Company insiders own 0.36% of the company’s stock.
A number of large investors have recently bought and sold shares of NSC. Patten Group Inc. grew its stake 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 buying an additional 46,610 shares in the last quarter. McCollum Christoferson Group LLC acquired a new stake in shares of Norfolk Southern in the fourth quarter valued at $5,675,000. Stonebridge Capital Advisors LLC acquired a new stake in shares of Norfolk Southern in the third quarter valued at $296,000. Carroll Financial Associates Inc. grew its stake 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 buying an additional 1,161 shares in the last quarter. Finally, Buckingham Asset Management LLC acquired a new stake in shares of Norfolk Southern in the third quarter valued at $277,000. Institutional investors own 72.50% of the company’s stock.
Norfolk Southern (NYSE NSC) opened at $142.56 on Tuesday. The firm has a market capitalization of $41,330.11, a P/E ratio of 21.95, a PEG ratio of 1.44 and a beta of 1.32. Norfolk Southern has a 1 year low of $109.27 and a 1 year high of $157.15. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.84 and a quick ratio of 0.76.
The firm also recently announced a quarterly dividend, which was paid on Saturday, March 10th. Shareholders of record on Friday, February 2nd were given a $0.72 dividend. The ex-dividend date of this dividend was Thursday, February 1st. This represents a $2.88 dividend on an annualized basis and a yield of 2.02%. This is an increase from Norfolk Southern’s previous quarterly dividend of $0.61. Norfolk Southern’s payout ratio is currently 15.38%.
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About Norfolk Southern
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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