$2.60 Billion in Sales Expected for Norfolk Souther Corporation (NSC) This Quarter
Equities analysts predict that Norfolk Souther Corporation (NYSE:NSC) will announce sales of $2.60 billion for the current quarter, Zacks reports. Seven analysts have issued estimates for Norfolk Souther Corporation’s earnings, with estimates ranging from $2.57 billion to $2.66 billion. Norfolk Souther Corporation reported sales of $2.52 billion during the same quarter last year, which indicates a positive year over year growth rate of 3.2%. The company is scheduled to report its next earnings results on Wednesday, October 25th.
On average, analysts expect that Norfolk Souther Corporation will report full year sales of $2.60 billion for the current financial year, with estimates ranging from $10.32 billion to $10.48 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $10.79 billion per share, with estimates ranging from $10.41 billion to $10.95 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow Norfolk Souther Corporation.
Norfolk Souther Corporation (NYSE:NSC) last issued its earnings results on Wednesday, July 26th. The railroad operator reported $1.71 EPS for the quarter, topping the consensus estimate of $1.65 by $0.06. Norfolk Souther Corporation had a net margin of 17.66% and a return on equity of 14.45%. The company had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.64 billion. During the same period in the previous year, the firm earned $1.36 EPS. The business’s revenue was up 7.5% on a year-over-year basis.
A number of equities research analysts recently weighed in on NSC shares. Credit Suisse Group restated an “outperform” rating and set a $133.00 price objective (down from $139.00) on shares of Norfolk Souther Corporation in a research note on Thursday, July 27th. They noted that the move was a valuation call. Royal Bank Of Canada reiterated a “sell” rating and issued a $117.00 target price on shares of Norfolk Souther Corporation in a research report on Tuesday, August 29th. ValuEngine upgraded shares of Norfolk Souther Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Deutsche Bank AG cut 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. Finally, Stifel Nicolaus reissued a “hold” rating and set a $124.00 target price (up previously from $122.00) on shares of Norfolk Souther Corporation in a research note on Thursday, July 27th. Five analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $112.50.
Norfolk Souther Corporation (NSC) opened at 131.57 on Wednesday. The stock has a 50 day moving average of $124.72 and a 200-day moving average of $119.20. The stock has a market cap of $37.92 billion, a P/E ratio of 21.38 and a beta of 1.38. Norfolk Souther Corporation has a one year low of $89.95 and a one year high of $133.81.
Norfolk Souther Corporation declared that its board has approved a share repurchase program on Tuesday, September 26th that permits the company to repurchase 50,000,000 shares. This repurchase authorization permits the railroad operator to reacquire shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.
The company also recently declared a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Monday, August 7th were issued a dividend of $0.61 per share. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.85%. Norfolk Souther Corporation’s dividend payout ratio is currently 39.61%.
In other news, Chairman James A. Squires sold 24,407 shares of the stock in a transaction on Tuesday, August 15th. The stock was 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 owns 76,481 shares in the company, valued at $9,173,895.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Thomas E. Hurlbut sold 300 shares of the stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $118.80, for a total value of $35,640.00. Following the completion of the sale, the vice president now owns 4,000 shares of the company’s stock, valued at approximately $475,200. The disclosure for this sale can be found here. Insiders sold a total of 27,077 shares of company stock valued at $3,244,531 in the last ninety days. Company insiders own 0.36% of the company’s stock.
Several institutional investors have recently modified their holdings of NSC. Krilogy Financial LLC lifted its stake in Norfolk Souther Corporation by 2.6% in the 2nd quarter. Krilogy Financial LLC now owns 855 shares of the railroad operator’s stock worth $104,000 after acquiring an additional 22 shares in the last quarter. AlphaMark Advisors LLC boosted its position in Norfolk Souther Corporation by 20.7% during the 2nd quarter. AlphaMark Advisors LLC now owns 875 shares of the railroad operator’s stock worth $106,000 after acquiring an additional 150 shares during the period. D Orazio & Associates Inc. boosted its position in Norfolk Souther Corporation by 0.5% during the 1st quarter. D Orazio & Associates Inc. now owns 891 shares of the railroad operator’s stock worth $100,000 after acquiring an additional 4 shares during the period. Harfst & Associates Inc. boosted its position in Norfolk Souther Corporation by 58.8% during the 2nd quarter. Harfst & Associates Inc. now owns 945 shares of the railroad operator’s stock worth $115,000 after acquiring an additional 350 shares during the period. Finally, Parkside Financial Bank & Trust boosted its position in Norfolk Souther Corporation by 35.3% during the 1st quarter. Parkside Financial Bank & Trust now owns 958 shares of the railroad operator’s stock worth $107,000 after acquiring an additional 250 shares during the period. 70.60% of the stock is owned by institutional investors and hedge funds.
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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