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, scrap paper, beverages, canned goods, and consumer products; chemicals consist of sulfur and related chemicals, petroleum products, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, and sand; 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. It also transports overseas freight through various Atlantic and Gulf Coast ports; and provides commuter rail passenger transportation services and operates an intermodal network. As of December 31, 2021, the company operated approximately 19,300 route miles in 22 states and the District of Columbia. Norfolk Southern Corporation was incorporated in 1980 and is based in Atlanta, Georgia.
Norfolk Southern Stock Up 0.1 %
Shares of NYSE:NSC traded up $0.15 during midday trading on Monday, reaching $251.17. 14,785 shares of the company were exchanged, compared to its average volume of 1,342,970. The firm has a market cap of $58.99 billion, a PE ratio of 20.00, a P/E/G ratio of 1.86 and a beta of 1.32. Norfolk Southern has a fifty-two week low of $217.00 and a fifty-two week high of $299.20. The stock has a fifty day simple moving average of $234.32 and a two-hundred day simple moving average of $253.42. The company has a quick ratio of 0.98, a current ratio of 1.10 and a debt-to-equity ratio of 1.10.
Norfolk Southern (NYSE:NSC - Get Rating) last released its quarterly earnings results on Wednesday, July 27th. The railroad operator reported $3.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.48 by ($0.03). The firm had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.14 billion. Norfolk Southern had a net margin of 25.57% and a return on equity of 22.42%. The business's revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period in the prior year, the business earned $3.28 EPS. As a group, sell-side analysts forecast that Norfolk Southern will post 13.67 earnings per share for the current year.
Norfolk Southern Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Saturday, August 20th. Shareholders of record on Monday, August 8th will be given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date is Friday, August 5th. Norfolk Southern's dividend payout ratio (DPR) is currently 39.49%.
Wall Street Analyst Weigh In
NSC has been the subject of a number of recent research reports. Citigroup downgraded shares of Norfolk Southern from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $345.00 to $260.00 in a research note on Thursday, May 19th. Credit Suisse Group began coverage on Norfolk Southern in a research note on Monday, June 27th. They issued an "outperform" rating and a $267.00 price target on the stock. Cowen decreased their price objective on Norfolk Southern from $331.00 to $316.00 in a research note on Thursday, July 28th. TD Securities increased their target price on Norfolk Southern from $300.00 to $305.00 and gave the company a "buy" rating in a research note on Thursday, April 28th. Finally, Evercore ISI decreased their target price on Norfolk Southern from $278.00 to $266.00 and set an "outperform" rating for the company in a research report on Tuesday, July 12th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $283.10.
Insider Transactions at Norfolk Southern
In other news, CEO Alan H. Shaw sold 1,000 shares of the business's stock in a transaction on Wednesday, June 1st. The shares were sold at an average price of $241.84, for a total value of $241,840.00. Following the sale, the chief executive officer now owns 34,255 shares of the company's stock, valued at $8,284,229.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Norfolk Southern news, CEO Alan H. Shaw sold 1,000 shares of Norfolk Southern stock in a transaction on Wednesday, June 1st. The shares were sold at an average price of $241.84, for a total value of $241,840.00. Following the sale, the chief executive officer now directly owns 34,255 shares in the company, valued at approximately $8,284,229.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James A. Squires sold 105,420 shares of the business's stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $248.81, for a total transaction of $26,229,550.20. Following the sale, the director now directly owns 42,728 shares in the company, valued at $10,631,153.68. The disclosure for this sale can be found here. Company insiders own 0.31% of the company's stock.
