Wall Street analysts forecast that Norfolk Southern Corp. (NYSE:NSC) will announce sales of $3.04 billion for the current quarter, Zacks reports. Five analysts have issued estimates for Norfolk Southern’s earnings, with the highest sales estimate coming in at $3.06 billion and the lowest estimate coming in at $3.01 billion. Norfolk Southern reported sales of $2.90 billion in the same quarter last year, which indicates a positive year over year growth rate of 4.8%. The company is expected to issue its next earnings results on Wednesday, July 24th.
On average, analysts expect that Norfolk Southern will report full-year sales of $11.93 billion for the current fiscal year, with estimates ranging from $11.78 billion to $11.99 billion. For the next fiscal year, analysts anticipate that the business will post sales of $12.45 billion, with estimates ranging from $12.09 billion to $12.65 billion. Zacks Investment Research’s 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 announced its quarterly earnings data on Wednesday, April 24th. The railroad operator reported $2.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.17 by $0.34. Norfolk Southern had a net margin of 24.10% and a return on equity of 17.80%. The company had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.82 billion. During the same quarter in the prior year, the company earned $1.93 EPS. The firm’s revenue was up 4.5% on a year-over-year basis.
In other Norfolk Southern news, Chairman James A. Squires sold 3,024 shares of the stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $204.71, for a total transaction of $619,043.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Michael Joseph Wheeler sold 2,500 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $204.57, for a total transaction of $511,425.00. Following the sale, the chief operating officer now directly owns 12,919 shares of the company’s stock, valued at approximately $2,642,839.83. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Belpointe Asset Management LLC lifted its position in shares of Norfolk Southern by 138.3% in the 1st quarter. Belpointe Asset Management LLC now owns 4,115 shares of the railroad operator’s stock worth $769,000 after purchasing an additional 2,388 shares during the period. Rehmann Capital Advisory Group lifted its position in shares of Norfolk Southern by 2.5% in the 1st quarter. Rehmann Capital Advisory Group now owns 2,582 shares of the railroad operator’s stock worth $483,000 after purchasing an additional 63 shares during the period. GYL Financial Synergies LLC purchased a new stake in shares of Norfolk Southern in the 1st quarter worth about $1,349,000. Cerebellum GP LLC purchased a new stake in shares of Norfolk Southern in the 1st quarter worth about $344,000. Finally, Horizon Investments LLC purchased a new stake in shares of Norfolk Southern in the 1st quarter worth about $228,000. 72.84% of the stock is owned by institutional investors and hedge funds.
Shares of Norfolk Southern stock traded down $1.77 during trading on Tuesday, reaching $194.74. The company’s stock had a trading volume of 2,273,708 shares, compared to its average volume of 1,257,349. Norfolk Southern has a 52-week low of $138.65 and a 52-week high of $211.46. The stock has a market capitalization of $51.79 billion, a price-to-earnings ratio of 20.48, a price-to-earnings-growth ratio of 1.48 and a beta of 1.38. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.59 and a current ratio of 0.67.
The company also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 3rd were given a dividend of $0.86 per share. The ex-dividend date was Thursday, May 2nd. This represents a $3.44 annualized dividend and a yield of 1.77%. Norfolk Southern’s payout ratio is currently 36.17%.
About Norfolk Southern
Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. The company transports industrial products, including chemicals, agriculture, and metals and construction materials; and coal, automobiles, and automotive parts.
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