Q4 2023 EPS Estimates for Norfolk Southern Co. Reduced by Analyst (NYSE:NSC)

Posted by Defense World Staff on Oct 9th, 2023

Norfolk Southern Co. (NYSE:NSC – Free Report) – Stock analysts at Zacks Research dropped their Q4 2023 earnings per share estimates for shares of Norfolk Southern in a research report issued to clients and investors on Wednesday, October 4th. Zacks Research analyst M. Basu now forecasts that the railroad operator will post earnings per share of $3.02 for the quarter, down from their previous estimate of $3.08. The consensus estimate for Norfolk Southern’s current full-year earnings is $12.27 per share.

Norfolk Southern (NYSE:NSC – Get Free Report) last posted its earnings results on Thursday, July 27th. The railroad operator reported $2.95 earnings per share for the quarter, missing the consensus estimate of $3.15 by ($0.20). The business had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $3.08 billion. Norfolk Southern had a return on equity of 24.88% and a net margin of 20.25%. Norfolk Southern’s revenue for the quarter was down 8.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.45 EPS.

Several other research analysts have also commented on the company. Bank of America lowered Norfolk Southern from a “buy” rating to a “neutral” rating and cut their price target for the stock from $266.00 to $215.00 in a research report on Monday, October 2nd. TD Cowen lifted their price target on Norfolk Southern from $243.00 to $253.00 and gave the stock an “outperform” rating in a research report on Friday, July 28th. Royal Bank of Canada lifted their price target on Norfolk Southern from $210.00 to $227.00 in a research report on Friday, July 28th. Susquehanna cut their price target on Norfolk Southern from $245.00 to $215.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 3rd. Finally, Morgan Stanley dropped their target price on Norfolk Southern from $177.00 to $174.00 and set an “equal weight” rating on the stock in a report on Monday, October 2nd. Twelve research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Norfolk Southern currently has an average rating of “Moderate Buy” and a consensus target price of $242.21.

Read Our Latest Stock Report on Norfolk Southern

Norfolk Southern Price Performance

NSC stock opened at $191.51 on Monday. The business has a 50 day moving average price of $207.11 and a 200 day moving average price of $213.08. The stock has a market cap of $43.47 billion, a price-to-earnings ratio of 17.22, a PEG ratio of 2.80 and a beta of 1.28. Norfolk Southern has a fifty-two week low of $186.82 and a fifty-two week high of $261.71. The company has a quick ratio of 0.59, a current ratio of 0.68 and a debt-to-equity ratio of 1.15.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 21st. Shareholders of record on Friday, August 4th were given a dividend of $1.35 per share. The ex-dividend date was Thursday, August 3rd. This represents a $5.40 dividend on an annualized basis and a yield of 2.82%. Norfolk Southern’s payout ratio is 48.56%.

Institutional Trading of Norfolk Southern

Institutional investors have recently bought and sold shares of the company. American National Bank lifted its position in shares of Norfolk Southern by 143.5% in the second quarter. American National Bank now owns 112 shares of the railroad operator’s stock valued at $25,000 after acquiring an additional 66 shares in the last quarter. VisionPoint Advisory Group LLC purchased a new stake in shares of Norfolk Southern in the second quarter valued at $25,000. Headlands Technologies LLC purchased a new stake in shares of Norfolk Southern in the second quarter valued at $26,000. Morton Brown Family Wealth LLC purchased a new stake in shares of Norfolk Southern in the first quarter valued at $29,000. Finally, Nemes Rush Group LLC purchased a new stake in shares of Norfolk Southern in the second quarter valued at $30,000. 72.37% of the stock is currently owned by hedge funds and other institutional investors.

About Norfolk Southern

(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.