Norfolk Souther Corporation (NSC) Expected to Post Quarterly Sales of $2.61 Billion

Wall Street brokerages expect that Norfolk Souther Corporation (NYSE:NSC) will post $2.61 billion in sales for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Norfolk Souther Corporation’s earnings. The highest sales estimate is $2.64 billion and the lowest is $2.57 billion. Norfolk Souther Corporation posted sales of $2.49 billion during the same quarter last year, which would suggest a positive year over year growth rate of 4.8%. The firm is expected to issue its next earnings results on Wednesday, January 24th.

According to Zacks, analysts expect that Norfolk Souther Corporation will report full year sales of $2.61 billion for the current year, with estimates ranging from $10.45 billion to $10.52 billion. For the next fiscal year, analysts forecast that the business will post sales of $10.92 billion per share, with estimates ranging from $10.62 billion to $11.07 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Norfolk Souther Corporation.

Norfolk Souther Corporation (NYSE:NSC) last released its earnings results on Wednesday, October 25th. The railroad operator reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.11. Norfolk Souther Corporation had a net margin of 17.86% and a return on equity of 14.72%. The firm had revenue of $2.67 billion during the quarter, compared to analyst estimates of $2.65 billion. During the same quarter in the previous year, the firm earned $1.55 earnings per share. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year.

NSC has been the subject of several recent research reports. Credit Suisse Group reiterated a “buy” rating and set a $143.00 target price (up previously from $133.00) on shares of Norfolk Souther Corporation in a research note on Thursday, October 12th. They noted that the move was a valuation call. ValuEngine upgraded shares of Norfolk Souther Corporation from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Royal Bank Of Canada reiterated a “sell” rating and set a $117.00 target price on shares of Norfolk Souther Corporation in a research note on Tuesday, August 29th. Zacks Investment Research upgraded shares of Norfolk Souther Corporation from a “hold” rating to a “buy” rating and set a $147.00 target price for the company in a research note on Wednesday, November 1st. Finally, Deutsche Bank AG lowered shares of Norfolk Souther Corporation from a “buy” rating to a “hold” rating and lowered their target price for the company from $132.00 to $104.00 in a research note on Monday, July 31st. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $127.70.

Norfolk Souther Corporation (NYSE NSC) traded down $0.84 during mid-day trading on Friday, reaching $127.15. 1,301,000 shares of the company’s stock traded hands, compared to its average volume of 1,543,975. 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 Souther Corporation has a 12-month low of $98.92 and a 12-month high of $134.52. The company has a market capitalization of $36,383.84, a price-to-earnings ratio of 19.99, a price-to-earnings-growth ratio of 1.64 and a beta of 1.37.

Norfolk Souther Corporation announced that its Board of Directors has authorized a share buyback plan on Tuesday, September 26th that allows the company to repurchase 50,000,000 shares. This repurchase authorization allows the railroad operator to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Friday, November 3rd will be issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date is Thursday, November 2nd. Norfolk Souther Corporation’s payout ratio is 38.36%.

In other Norfolk Souther Corporation news, Chairman James A. Squires sold 24,407 shares of the company’s 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 sale, the chairman now directly owns 76,481 shares of the company’s stock, valued at approximately $9,173,895.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Thomas E. Hurlbut sold 300 shares of the company’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $118.80, for a total transaction of $35,640.00. Following the completion of the sale, the vice president now directly owns 4,000 shares of the company’s stock, valued at $475,200. The disclosure for this sale can be found here. Insiders sold a total of 30,645 shares of company stock valued at $3,719,075 over the last three months. 0.36% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. D Orazio & Associates Inc. lifted its holdings in 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 acquiring an additional 4 shares during the last quarter. Harbour Capital Advisors LLC lifted its holdings in 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 acquiring an additional 12,311 shares during the last quarter. Krilogy Financial LLC lifted its holdings in 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 acquiring an additional 22 shares during the last quarter. AlphaMark Advisors LLC lifted its holdings in 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 acquiring an additional 150 shares during the last quarter. Finally, Parallel Advisors LLC lifted its holdings in 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 acquiring an additional 220 shares during the last quarter. 71.13% of the stock is owned by institutional investors.

ILLEGAL ACTIVITY WARNING: This news story was reported by Markets Daily and is the sole property of of Markets Daily. If you are accessing this news story on another publication, it was copied illegally and reposted in violation of international trademark and copyright laws. The legal version of this news story can be read at https://www.themarketsdaily.com/2017/11/12/norfolk-souther-corporation-nsc-expected-to-post-quarterly-sales-of-2-61-billion.html.

About Norfolk Souther Corporation

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.

Get a free copy of the Zacks research report on Norfolk Souther Corporation (NSC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Norfolk Souther Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Norfolk Souther Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply