Brokerages Expect Norfolk Souther Corporation (NYSE:NSC) Will Post Quarterly Sales of $2.61 Billion

Wall Street analysts expect Norfolk Souther Corporation (NYSE:NSC) to post $2.61 billion in sales for the current fiscal quarter, according to Zacks. Eight analysts have made estimates for Norfolk Souther Corporation’s earnings, with the lowest sales estimate coming in at $2.57 billion and the highest estimate coming in at $2.68 billion. Norfolk Souther Corporation reported sales of $2.52 billion in the same quarter last year, which would indicate a positive year over year growth rate of 3.6%. The firm is expected to report its next earnings results on Wednesday, October 25th.

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 $10.32 billion to $10.49 billion. For the next fiscal year, analysts forecast that the firm will post sales of $10.80 billion per share, with estimates ranging from $10.41 billion to $10.97 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Norfolk Souther Corporation.

Norfolk Souther Corporation (NYSE:NSC) last released its earnings results on Wednesday, July 26th. The railroad operator reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.06. The company had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.64 billion. Norfolk Souther Corporation had a return on equity of 14.45% and a net margin of 17.66%. Norfolk Souther Corporation’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.36 EPS.

NSC has been the subject of several recent research reports. Zacks Investment Research upgraded Norfolk Souther Corporation from a “hold” rating to a “buy” rating and set a $132.00 price target for the company in a research report on Wednesday, May 3rd. ValuEngine upgraded Norfolk Souther Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Credit Suisse Group reiterated an “outperform” rating and issued a $133.00 price target on shares of Norfolk Souther Corporation in a research report on Sunday, May 28th. Deutsche Bank AG cut Norfolk Souther Corporation from a “buy” rating to a “hold” rating and reduced their price target for the company from $132.00 to $104.00 in a research report on Monday, July 31st. Finally, TD Securities reiterated a “hold” rating on shares of Norfolk Souther Corporation in a research report on Thursday, April 27th. Four investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have given a buy rating to the stock. Norfolk Souther Corporation has an average rating of “Hold” and an average price target of $112.17.

Norfolk Souther Corporation (NSC) traded down 1.33% during mid-day trading on Thursday, hitting $115.90. The stock had a trading volume of 978,124 shares. The stock has a market capitalization of $33.40 billion, a P/E ratio of 18.83 and a beta of 1.33. Norfolk Souther Corporation has a 52 week low of $87.97 and a 52 week high of $125.31. The company’s 50 day moving average is $118.86 and its 200-day moving average is $118.14.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Monday, August 7th will be paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date is Thursday, August 3rd. Norfolk Souther Corporation’s dividend payout ratio (DPR) is presently 39.61%.

In other news, VP Thomas E. Hurlbut sold 802 shares of the business’s stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $116.54, for a total value of $93,465.08. Following the completion of the sale, the vice president now owns 4,300 shares of the company’s stock, valued at approximately $501,122. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Thomas E. Hurlbut sold 1,427 shares of the business’s stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $116.92, for a total value of $166,844.84. Following the completion of the sale, the vice president now directly owns 5,102 shares of the company’s stock, valued at approximately $596,525.84. The disclosure for this sale can be found here. Insiders own 0.36% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in Norfolk Souther Corporation by 3,039.1% in the first quarter. BlackRock Inc. now owns 19,551,432 shares of the railroad operator’s stock worth $2,189,172,000 after buying an additional 18,928,598 shares during the period. State Street Corp raised its stake in Norfolk Souther Corporation by 2.2% in the first quarter. State Street Corp now owns 12,960,797 shares of the railroad operator’s stock worth $1,451,226,000 after buying an additional 281,088 shares during the period. Alliancebernstein L.P. raised its stake in Norfolk Souther Corporation by 3.6% in the second quarter. Alliancebernstein L.P. now owns 5,571,441 shares of the railroad operator’s stock worth $678,044,000 after buying an additional 192,984 shares during the period. JPMorgan Chase & Co. raised its stake in Norfolk Souther Corporation by 31.8% in the first quarter. JPMorgan Chase & Co. now owns 4,209,269 shares of the railroad operator’s stock worth $471,313,000 after buying an additional 1,016,319 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Norfolk Souther Corporation by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 3,503,800 shares of the railroad operator’s stock worth $392,383,000 after buying an additional 30,856 shares during the period. 70.59% of the stock is owned by institutional investors.

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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.

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

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