Zacks Research Has Optimistic Outlook of NSC FY2024 Earnings

Norfolk Southern Co. (NYSE:NSC - Free Report) - Stock analysts at Zacks Research boosted their FY2024 earnings per share estimates for shares of Norfolk Southern in a research note issued to investors on Monday, November 11th. Zacks Research analyst R. Department now expects that the railroad operator will post earnings per share of $11.74 for the year, up from their prior forecast of $11.67. The consensus estimate for Norfolk Southern's current full-year earnings is $11.82 per share.

Norfolk Southern (NYSE:NSC - Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.11 by $0.14. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The company had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same period in the previous year, the firm earned $2.65 earnings per share. Norfolk Southern's revenue for the quarter was up 3.3% on a year-over-year basis.

Other equities research analysts also recently issued research reports about the stock. Benchmark upped their price objective on shares of Norfolk Southern from $270.00 to $285.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Sanford C. Bernstein increased their target price on Norfolk Southern from $285.00 to $286.00 and gave the company an "outperform" rating in a research note on Wednesday, October 9th. UBS Group upped their target price on shares of Norfolk Southern from $289.00 to $309.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Barclays upped their price objective on shares of Norfolk Southern from $290.00 to $305.00 and gave the stock an "overweight" rating in a research note on Wednesday. Finally, Jefferies Financial Group boosted their price objective on Norfolk Southern from $275.00 to $280.00 and gave the stock a "buy" rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, Norfolk Southern currently has an average rating of "Moderate Buy" and a consensus target price of $275.68.

Norfolk Southern Stock Up 0.7 %

NSC traded up $1.81 on Wednesday, reaching $269.26. The company's stock had a trading volume of 725,039 shares, compared to its average volume of 1,256,841. The business's 50 day moving average is $252.33 and its 200 day moving average is $238.24. Norfolk Southern has a 1 year low of $201.44 and a 1 year high of $277.60. The stock has a market cap of $60.92 billion, a price-to-earnings ratio of 25.19, a price-to-earnings-growth ratio of 2.54 and a beta of 1.30. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.73 and a quick ratio of 0.65.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Friday, November 1st will be issued a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.01%. The ex-dividend date is Friday, November 1st. Norfolk Southern's payout ratio is presently 50.70%.

Insiders Place Their Bets

In related news, CEO Alan H. Shaw sold 51,325 shares of Norfolk Southern stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $255.98, for a total transaction of $13,138,173.50. Following the transaction, the chief executive officer now owns 35,045 shares in the company, valued at approximately $8,970,819.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Norfolk Southern news, CEO Alan H. Shaw sold 51,325 shares of Norfolk Southern stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $255.98, for a total value of $13,138,173.50. Following the sale, the chief executive officer now owns 35,045 shares of the company's stock, valued at approximately $8,970,819.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sameh Fahmy bought 1,000 shares of Norfolk Southern stock in a transaction that occurred on Thursday, October 24th. The shares were acquired at an average price of $255.00 per share, for a total transaction of $255,000.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company's stock, valued at $2,550,000. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.19% of the stock is owned by company insiders.

Institutional Trading of Norfolk Southern

Hedge funds have recently added to or reduced their stakes in the business. Lake Street Advisors Group LLC boosted its position in shares of Norfolk Southern by 1.8% in the 3rd quarter. Lake Street Advisors Group LLC now owns 2,265 shares of the railroad operator's stock worth $563,000 after purchasing an additional 41 shares during the last quarter. Hall Capital Management Co. Inc. raised its stake in Norfolk Southern by 2.8% in the 2nd quarter. Hall Capital Management Co. Inc. now owns 1,516 shares of the railroad operator's stock valued at $325,000 after acquiring an additional 42 shares during the period. Blue Chip Partners LLC grew its position in shares of Norfolk Southern by 0.5% in the second quarter. Blue Chip Partners LLC now owns 7,716 shares of the railroad operator's stock valued at $1,656,000 after purchasing an additional 42 shares during the last quarter. Stephens Consulting LLC boosted its holdings in Norfolk Southern by 12.4% in the 2nd quarter. Stephens Consulting LLC now owns 381 shares of the railroad operator's stock valued at $82,000 after purchasing an additional 42 shares during the period. Finally, Foster Victor Wealth Advisors LLC increased its position in shares of Norfolk Southern by 4.2% in the third quarter. Foster Victor Wealth Advisors LLC now owns 1,043 shares of the railroad operator's stock worth $256,000 after purchasing an additional 42 shares during the period. Institutional investors own 75.10% of the company's stock.

Norfolk Southern Company Profile

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods in the United States. The company transports agriculture, forest, and consumer products comprising soybeans, wheat, corn, fertilizers, livestock and poultry feed, food products, food oils, flour, sweeteners, ethanol, lumber and wood products, pulp board and paper products, wood fibers, wood pulp, beverages, and canned goods; chemicals consist of sulfur and related chemicals, petroleum products comprising crude oil, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, sand, and natural gas liquids; metals and construction materials, such as steel, aluminum products, machinery, scrap metals, cement, aggregates, minerals, clay, transportation equipment, and military-related products; and automotive, including finished motor vehicles and automotive parts, as well as coal.