Norfolk Southern (NYSE:NSC) Posts Quarterly Earnings Results, Beats Expectations By $0.20 EPS
Norfolk Southern (NYSE:NSC) released its earnings results on Wednesday. The railroad operator reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.20, MarketWatch Earnings reports. The firm had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.06 billion. Norfolk Southern had a return on equity of 16.06% and a net margin of 20.47%. The firm’s revenue was down 28.7% on a year-over-year basis. During the same period in the prior year, the firm earned $2.70 EPS.
Shares of NSC traded down $2.74 during trading hours on Friday, hitting $186.13. 351,718 shares of the stock were exchanged, compared to its average volume of 1,388,949. The stock’s 50-day moving average price is $178.03 and its two-hundred day moving average price is $177.20. Norfolk Southern has a 12-month low of $112.62 and a 12-month high of $219.88. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.78 and a current ratio of 1.21. The company has a market cap of $51.46 billion, a price-to-earnings ratio of 23.18, a price-to-earnings-growth ratio of 3.42 and a beta of 1.37.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Friday, August 7th will be issued a dividend of $0.94 per share. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 2.02%. Norfolk Southern’s payout ratio is currently 36.36%.
Several analysts have weighed in on NSC shares. Citigroup boosted their price target on Norfolk Southern from $200.00 to $214.00 and gave the company a “buy” rating in a research note on Thursday. Evercore ISI upgraded Norfolk Southern from an “in-line” rating to an “outperform” rating in a research report on Wednesday, May 20th. Credit Suisse Group raised their price target on shares of Norfolk Southern from $199.00 to $216.00 and gave the stock an “outperform” rating in a research report on Thursday. Argus decreased their price objective on shares of Norfolk Southern from $235.00 to $200.00 and set a “buy” rating for the company in a research note on Wednesday, May 6th. Finally, Susquehanna Bancshares cut their price objective on shares of Norfolk Southern from $247.00 to $189.00 and set a “positive” rating on the stock in a research note on Wednesday, April 8th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have given a buy rating to the stock. Norfolk Southern currently has a consensus rating of “Hold” and a consensus target price of $193.29.
Norfolk Southern Company Profile
Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. The company transports industrial products, including chemicals, agriculture, and metals and construction materials; and coal, automobiles, and automotive parts.
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