Norfolk Southern Co. to Post Q2 2024 Earnings of $2.85 Per Share, Zacks Research Forecasts (NYSE:NSC)

Norfolk Southern Co. (NYSE:NSC) – Equities researchers at Zacks Research cut their Q2 2024 EPS estimates for shares of Norfolk Southern in a research note issued to investors on Friday, April 19th. Zacks Research analyst M. Basu now forecasts that the railroad operator will earn $2.85 per share for the quarter, down from their previous forecast 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.

NSC has been the topic of a number of other reports. JPMorgan Chase & Co. boosted their target price on Norfolk Southern from $240.00 to $275.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 9th. Jefferies Financial Group began coverage on shares of Norfolk Southern in a research note on Monday, April 8th. They issued a “buy” rating and a $300.00 price objective for the company. Barclays upgraded Norfolk Southern from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $255.00 to $305.00 in a report on Wednesday, February 21st. BMO Capital Markets cut their target price on Norfolk Southern from $250.00 to $245.00 and set a “market perform” rating on the stock in a research note on Monday, January 29th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $270.00 price target on shares of Norfolk Southern in a research note on Wednesday, April 10th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $262.74.

Norfolk Southern Stock Performance

NSC opened at $245.03 on Monday. The stock has a market capitalization of $60.33 billion, a price-to-earnings ratio of 30.55, a PEG ratio of 3.28 and a beta of 1.30. Norfolk Southern has a fifty-two week low of $183.09 and a fifty-two week high of $263.66. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.14 and a current ratio of 1.24. The company has a fifty day moving average of $252.66 and a 200 day moving average of $232.09.

Norfolk Southern (NYSE:NSC) last posted 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). Norfolk Southern had a return on equity of 21.06% and a net margin of 15.03%. The firm had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter in the previous year, the company earned $3.42 earnings per share. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year.

Institutional Investors Weigh In On Norfolk Southern

Hedge funds and other institutional investors have recently bought and sold shares of the company. AEGON ASSET MANAGEMENT UK Plc purchased a new position in Norfolk Southern in the fourth quarter worth approximately $2,933,000. BKM Wealth Management LLC purchased a new position in Norfolk Southern during the fourth quarter worth about $1,444,000. Pathstone Family Office LLC lifted its holdings in shares of Norfolk Southern by 200.1% in the 3rd quarter. Pathstone Family Office LLC now owns 16,077 shares of the railroad operator’s stock worth $3,198,000 after acquiring an additional 10,719 shares during the last quarter. ClearBridge Investments Ltd acquired a new stake in Norfolk Southern in the 3rd quarter valued at approximately $34,973,000. Finally, LPL Financial LLC boosted its position in shares of Norfolk Southern by 9.8% during the third quarter. LPL Financial LLC now owns 187,259 shares of the railroad operator’s stock worth $36,877,000 after buying an additional 16,727 shares during the period. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Norfolk Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Friday, May 3rd will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.20%. Norfolk Southern’s payout ratio is 67.33%.

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.