Norfolk Southern (NYSE:NSC) Releases Q1 2024 Earnings Guidance

Norfolk Southern (NYSE:NSC - Get Free Report) issued an update on its first quarter 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 2.490-2.490 for the period, compared to the consensus EPS estimate of 2.610. The company issued revenue guidance of -. Norfolk Southern also updated its Q1 guidance to $2.49 EPS.

Norfolk Southern Stock Up 1.3 %

NYSE NSC traded up $3.13 during mid-day trading on Tuesday, reaching $253.39. 1,295,179 shares of the company's stock traded hands, compared to its average volume of 1,310,469. The company has a current ratio of 1.24, a quick ratio of 1.14 and a debt-to-equity ratio of 1.34. Norfolk Southern has a 1-year low of $183.09 and a 1-year high of $263.66. The company has a fifty day simple moving average of $253.57 and a 200-day simple moving average of $228.26. The company has a market cap of $62.39 billion, a price-to-earnings ratio of 31.20, a P/E/G ratio of 3.35 and a beta of 1.30.

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 for the quarter, missing analysts' consensus estimates of $2.87 by ($0.04). The company had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.09 billion. Norfolk Southern had a return on equity of 21.06% and a net margin of 15.03%. The firm's quarterly revenue was down 4.2% compared to the same quarter last year. During the same period in the previous year, the business posted $3.42 EPS. As a group, equities research analysts expect that Norfolk Southern will post 12.14 EPS for the current year.

Norfolk Southern Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 20th. Stockholders of record on Friday, February 2nd were paid a $1.35 dividend. The ex-dividend date was Thursday, February 1st. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.13%. Norfolk Southern's dividend payout ratio (DPR) is presently 67.33%.

Analyst Upgrades and Downgrades

NSC has been the subject of several research analyst reports. Barclays raised Norfolk Southern from an equal weight rating to an overweight rating and boosted their price objective for the company from $255.00 to $305.00 in a report on Wednesday, February 21st. Susquehanna upped their price target on Norfolk Southern from $245.00 to $270.00 and gave the company a neutral rating in a research report on Thursday, March 28th. UBS Group raised shares of Norfolk Southern from a neutral rating to a buy rating and lifted their price objective for the stock from $238.00 to $302.00 in a report on Monday, March 4th. Sanford C. Bernstein raised shares of Norfolk Southern from a market perform rating to an outperform rating and set a $272.00 target price on the stock in a report on Monday, January 22nd. Finally, Jefferies Financial Group assumed coverage on shares of Norfolk Southern in a report on Monday. They issued a buy rating and a $300.00 price target for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $257.41.

Hedge Funds Weigh In On Norfolk Southern

A number of institutional investors and hedge funds have recently bought and sold shares of NSC. Worth Asset Management LLC bought a new position in Norfolk Southern during the 1st quarter valued at $30,000. Hobbs Group Advisors LLC acquired a new stake in shares of Norfolk Southern in the fourth quarter valued at $38,000. Milestone Investment Advisors LLC bought a new position in Norfolk Southern during the first quarter valued at about $51,000. Strategic Investment Solutions Inc. IL acquired a new position in Norfolk Southern during the first quarter worth about $71,000. Finally, Fairfield Bush & CO. bought a new stake in Norfolk Southern in the first quarter worth about $81,000. Institutional investors own 75.10% of the company's stock.

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.