Norfolk Southern (NSC) Set to Announce Quarterly Earnings on Wednesday

Norfolk Southern (NYSE:NSC) will release its earnings data before the market opens on Wednesday, April 24th. Analysts expect Norfolk Southern to post earnings of $2.64 per share for the quarter. Norfolk Southern has set its FY 2024 guidance at EPS.Persons interested in listening to the company’s earnings conference call can do so using this link.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Friday, January 26th. The railroad operator reported $2.83 earnings per share for the quarter, missing the consensus estimate of $2.87 by ($0.04). The firm had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.09 billion. Norfolk Southern had a return on equity of 21.06% and a net margin of 15.03%. The business’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter last year, the firm posted $3.42 earnings per share. On average, analysts expect Norfolk Southern to post $12 EPS for the current fiscal year and $14 EPS for the next fiscal year.

Norfolk Southern Stock Performance

NYSE:NSC opened at $242.90 on Wednesday. The stock has a market cap of $59.80 billion, a P/E ratio of 30.29, a price-to-earnings-growth ratio of 3.33 and a beta of 1.30. The company has a current ratio of 1.24, a quick ratio of 1.14 and a debt-to-equity ratio of 1.34. The stock’s 50-day moving average is $253.73 and its 200-day moving average is $230.32. Norfolk Southern has a 1-year low of $183.09 and a 1-year high of $263.66.

Norfolk Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 20th. Investors of record on Friday, February 2nd were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend was Thursday, February 1st. Norfolk Southern’s dividend payout ratio is currently 67.33%.

Institutional Investors Weigh In On Norfolk Southern

Several hedge funds and other institutional investors have recently modified their holdings of the company. Hobbs Group Advisors LLC bought a new stake in shares of Norfolk Southern during the fourth quarter valued at approximately $38,000. SageView Advisory Group LLC bought a new stake in shares of Norfolk Southern during the fourth quarter valued at approximately $1,124,000. Sanibel Captiva Trust Company Inc. bought a new stake in Norfolk Southern during the fourth quarter worth $1,975,000. DRW Securities LLC bought a new stake in Norfolk Southern during the fourth quarter worth $240,000. Finally, GSA Capital Partners LLP bought a new stake in Norfolk Southern during the fourth quarter worth $300,000. Institutional investors own 75.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NSC. Jefferies Financial Group began coverage on Norfolk Southern in a research note on Monday, April 8th. They issued a “buy” rating and a $300.00 price objective on the stock. The Goldman Sachs Group lifted their price objective on Norfolk Southern from $252.00 to $283.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. JPMorgan Chase & Co. lifted their price objective on Norfolk Southern from $240.00 to $275.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 9th. Benchmark lifted their price objective on Norfolk Southern from $250.00 to $277.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Finally, Citigroup lifted their price objective on Norfolk Southern from $253.00 to $286.00 and gave the stock a “buy” rating in a research note on Thursday, February 8th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $262.33.

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.