Norfolk Southern (NYSE:NSC) Releases Q1 Earnings Guidance

Norfolk Southern (NYSE:NSC) updated its first quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $2.49 for the period, compared to the consensus estimate of $2.60. The company issued revenue guidance of $3.004 billion, compared to the consensus revenue estimate of $3.05 billion. Norfolk Southern also updated its Q1 2024 guidance to 2.490-2.490 EPS.

Norfolk Southern Price Performance

NSC stock opened at $253.39 on Wednesday. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.24 and a quick ratio of 1.14. The firm has a market capitalization of $62.39 billion, a P/E ratio of 31.59, a P/E/G ratio of 3.36 and a beta of 1.30. The business’s 50-day moving average is $253.90 and its two-hundred day moving average is $228.62. Norfolk Southern has a 1 year low of $183.09 and a 1 year high of $263.66.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Friday, January 26th. The railroad operator reported $2.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.87 by ($0.04). Norfolk Southern had a net margin of 15.03% and a return on equity of 21.06%. The company had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.09 billion. During the same period in the prior year, the business earned $3.42 EPS. Norfolk Southern’s revenue for the quarter was down 4.2% on a year-over-year basis. Analysts anticipate that Norfolk Southern will post 12.14 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 20th. Investors of record on Friday, February 2nd were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Thursday, February 1st. This represents a $5.40 dividend on an annualized basis and a yield of 2.13%. Norfolk Southern’s dividend payout ratio is presently 67.33%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Jefferies Financial Group assumed coverage on Norfolk Southern in a research note on Monday. They set a buy rating and a $300.00 price target on the stock. TD Cowen lifted their target price 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. Citigroup lifted their target price on Norfolk Southern from $253.00 to $286.00 and gave the company a buy rating in a research note on Thursday, February 8th. The Goldman Sachs Group lifted their target price on Norfolk Southern from $252.00 to $283.00 and gave the company a buy rating in a research note on Thursday, March 21st. Finally, Sanford C. Bernstein upgraded Norfolk Southern from a market perform rating to an outperform rating and set a $272.00 target price on the stock in a research note on Monday, January 22nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Norfolk Southern currently has an average rating of Moderate Buy and a consensus price target of $257.41.

Hedge Funds Weigh In On Norfolk Southern

Several hedge funds have recently bought and sold shares of the stock. Worth Asset Management LLC purchased a new stake in shares of Norfolk Southern in the first quarter valued at $30,000. Hobbs Group Advisors LLC purchased a new stake in shares of Norfolk Southern in the fourth quarter valued at $38,000. Milestone Investment Advisors LLC purchased a new stake in shares of Norfolk Southern in the first quarter valued at $51,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Norfolk Southern in the first quarter valued at $71,000. Finally, Fairfield Bush & CO. purchased a new stake in shares of Norfolk Southern in the first quarter valued at $81,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

About Norfolk Southern

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.