Zacks Research Weighs in on Norfolk Southern Co.’s Q2 2024 Earnings (NYSE:NSC)

Norfolk Southern Co. (NYSE:NSCFree Report) – Investment analysts at Zacks Research lifted their Q2 2024 earnings per share (EPS) estimates for shares of Norfolk Southern in a report released on Tuesday, May 14th. Zacks Research analyst M. Basu now anticipates that the railroad operator will post earnings per share of $2.94 for the quarter, up from their previous estimate of $2.85. The consensus estimate for Norfolk Southern’s current full-year earnings is $11.62 per share. Zacks Research also issued estimates for Norfolk Southern’s Q3 2024 earnings at $3.24 EPS, Q4 2024 earnings at $3.20 EPS, FY2024 earnings at $11.87 EPS, Q1 2025 earnings at $2.93 EPS, Q3 2025 earnings at $3.50 EPS and Q1 2026 earnings at $2.99 EPS.

Norfolk Southern (NYSE:NSCGet Free Report) last posted its earnings results on Wednesday, April 24th. The railroad operator reported $2.49 EPS for the quarter, missing the consensus estimate of $2.58 by ($0.09). Norfolk Southern had a return on equity of 19.61% and a net margin of 11.76%. The company had revenue of $3 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same period last year, the business earned $3.32 earnings per share. The firm’s revenue was down 4.1% on a year-over-year basis.

A number of other research firms have also recently weighed in on NSC. Sanford C. Bernstein raised shares of Norfolk Southern from a “market perform” rating to an “outperform” rating and set a $272.00 price objective for the company in a report on Monday, January 22nd. TD Cowen lifted their price target on Norfolk Southern from $236.00 to $253.00 and gave the company a “market perform” rating in a research note on Thursday, March 21st. Royal Bank of Canada reiterated a “sector perform” rating and set a $270.00 price target on shares of Norfolk Southern in a research report on Wednesday, April 10th. Morgan Stanley cut Norfolk Southern from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $185.00 to $175.00 in a research report on Monday, January 29th. Finally, BMO Capital Markets reduced their price objective on shares of Norfolk Southern from $250.00 to $245.00 and set a “market perform” rating for the company in a research report on Monday, January 29th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $260.74.

Read Our Latest Analysis on Norfolk Southern

Norfolk Southern Price Performance

NYSE:NSC opened at $231.26 on Thursday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.68 and a quick ratio of 0.61. The company has a 50 day moving average price of $246.20 and a 200-day moving average price of $235.83. Norfolk Southern has a 1-year low of $183.09 and a 1-year high of $263.66. The firm has a market cap of $52.24 billion, a price-to-earnings ratio of 37.24, a price-to-earnings-growth ratio of 3.24 and a beta of 1.30.

Institutional Investors Weigh In On Norfolk Southern

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jennison Associates LLC purchased a new position in Norfolk Southern during the third quarter worth about $1,935,000. Allworth Financial LP increased its holdings in Norfolk Southern by 1.2% in the 3rd quarter. Allworth Financial LP now owns 4,723 shares of the railroad operator’s stock valued at $930,000 after purchasing an additional 56 shares during the last quarter. Dearborn Partners LLC lifted its stake in Norfolk Southern by 6.6% during the third quarter. Dearborn Partners LLC now owns 4,764 shares of the railroad operator’s stock worth $938,000 after purchasing an additional 295 shares in the last quarter. Nwam LLC boosted its position in shares of Norfolk Southern by 3.8% during the third quarter. Nwam LLC now owns 1,837 shares of the railroad operator’s stock worth $362,000 after buying an additional 67 shares during the period. Finally, Orion Portfolio Solutions LLC grew its stake in shares of Norfolk Southern by 24.8% in the third quarter. Orion Portfolio Solutions LLC now owns 39,853 shares of the railroad operator’s stock valued at $7,848,000 after buying an additional 7,923 shares in the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

Insider Activity

In other Norfolk Southern news, CMO Claude E. Elkins sold 8,329 shares of Norfolk Southern stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $228.43, for a total transaction of $1,902,593.47. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Friday, May 3rd will be issued a dividend of $1.35 per share. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.34%. Norfolk Southern’s dividend payout ratio is presently 86.96%.

Norfolk Southern Company Profile

(Get Free Report)

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.

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Earnings History and Estimates for Norfolk Southern (NYSE:NSC)

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