Norfolk Southern Co. Forecasted to Earn Q2 2024 Earnings of $2.85 Per Share (NYSE:NSC)

Norfolk Southern Co. (NYSE:NSC - Free Report) - Equities research analysts at Zacks Research reduced their Q2 2024 earnings per share (EPS) estimates for shares of Norfolk Southern in a report issued on Friday, April 19th. Zacks Research analyst M. Basu now anticipates that the railroad operator will post earnings of $2.85 per share for the quarter, down from their previous estimate of $3.04. The consensus estimate for Norfolk Southern's current full-year earnings is $11.98 per share. Zacks Research also issued estimates for Norfolk Southern's Q3 2024 earnings at $3.17 EPS, Q4 2024 earnings at $3.13 EPS, Q1 2025 earnings at $2.84 EPS, Q3 2025 earnings at $3.44 EPS, Q1 2026 earnings at $2.96 EPS and FY2026 earnings at $14.28 EPS.

Norfolk Southern (NYSE:NSC - Get Free Report) last released its quarterly earnings results on Friday, January 26th. The railroad operator reported $2.83 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.87 by ($0.04). Norfolk Southern had a net margin of 15.03% and a return on equity of 21.06%. The firm had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter last year, the company earned $3.42 earnings per share. The firm's revenue was down 4.2% on a year-over-year basis.

A number of other brokerages have also commented on NSC. Stifel Nicolaus upped their target price on Norfolk Southern from $233.00 to $244.00 and gave the company a "hold" rating in a research note on Friday, April 12th. Jefferies Financial Group initiated coverage on shares of Norfolk Southern in a report on Monday, April 8th. They issued a "buy" rating and a $300.00 price target on the stock. Barclays raised shares of Norfolk Southern from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $255.00 to $305.00 in a research report on Wednesday, February 21st. JPMorgan Chase & Co. raised 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. Finally, Morgan Stanley downgraded Norfolk Southern from an "equal weight" rating to an "underweight" rating and cut their target price for the company from $185.00 to $175.00 in a research report on Monday, January 29th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $262.74.

Norfolk Southern Stock Performance

NYSE NSC traded up $3.33 during midday trading on Monday, hitting $244.61. The company had a trading volume of 975,029 shares, compared to its average volume of 1,267,340. The company has a quick ratio of 1.14, a current ratio of 1.24 and a debt-to-equity ratio of 1.34. The firm has a fifty day simple moving average of $252.77 and a two-hundred day simple moving average of $231.71. Norfolk Southern has a fifty-two week low of $183.09 and a fifty-two week high of $263.66. The stock has a market cap of $60.23 billion, a price-to-earnings ratio of 30.50, a P/E/G ratio of 3.28 and a beta of 1.30.

Norfolk Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 20th. Stockholders 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 2.21%. The ex-dividend date of this dividend was Thursday, February 1st. Norfolk Southern's dividend payout ratio is 67.33%.

Institutional Investors Weigh In On Norfolk Southern

Hedge funds have recently added to or reduced their stakes in the business. Founders Capital Management LLC increased its position in Norfolk Southern by 13.3% in the 1st quarter. Founders Capital Management LLC now owns 1,928 shares of the railroad operator's stock valued at $491,000 after buying an additional 226 shares in the last quarter. PFG Investments LLC raised its position in shares of Norfolk Southern by 57.2% during the first quarter. PFG Investments LLC now owns 1,971 shares of the railroad operator's stock worth $502,000 after purchasing an additional 717 shares during the period. Outlook Wealth Advisors LLC lifted its holdings in shares of Norfolk Southern by 12.9% in the 1st quarter. Outlook Wealth Advisors LLC now owns 1,224 shares of the railroad operator's stock worth $312,000 after purchasing an additional 140 shares in the last quarter. Raymond James & Associates lifted its holdings in shares of Norfolk Southern by 0.9% in the 1st quarter. Raymond James & Associates now owns 320,231 shares of the railroad operator's stock worth $81,617,000 after purchasing an additional 2,881 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC lifted its stake in Norfolk Southern by 14.4% during the 1st quarter. Ashton Thomas Private Wealth LLC now owns 2,561 shares of the railroad operator's stock valued at $653,000 after acquiring an additional 323 shares in the last quarter. 75.10% of the stock is currently owned by institutional investors.

About Norfolk Southern

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.