Zacks: Brokerages Anticipate Northrop Grumman Corporation (NOC) Will Post Earnings of $2.85 Per Share
Wall Street brokerages predict that Northrop Grumman Corporation (NYSE:NOC) will post earnings per share (EPS) of $2.85 for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Northrop Grumman Corporation’s earnings, with estimates ranging from $2.70 to $2.97. Northrop Grumman Corporation reported earnings of $2.60 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 9.6%. The firm is scheduled to announce its next earnings report on Wednesday, July 26th.
On average, analysts expect that Northrop Grumman Corporation will report full year earnings of $12.31 per share for the current year, with EPS estimates ranging from $11.78 to $12.75. For the next financial year, analysts forecast that the company will report earnings of $13.44 per share, with EPS estimates ranging from $12.65 to $14.00. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that that provide coverage for Northrop Grumman Corporation.
Northrop Grumman Corporation (NYSE:NOC) last released its quarterly earnings results on Wednesday, April 26th. The aerospace company reported $3.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.90 by $0.73. The firm had revenue of $6.27 billion during the quarter, compared to analysts’ expectations of $6.15 billion. Northrop Grumman Corporation had a return on equity of 38.20% and a net margin of 9.20%. Northrop Grumman Corporation’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.03 EPS.
Several analysts have recently weighed in on the company. Vertical Research raised Northrop Grumman Corporation from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $254.00 to $270.00 in a report on Wednesday, May 10th. Zacks Investment Research raised Northrop Grumman Corporation from a “hold” rating to a “buy” rating and set a $270.00 price objective on the stock in a report on Thursday, April 13th. Vetr raised Northrop Grumman Corporation from a “hold” rating to a “buy” rating and set a $253.00 price objective on the stock in a report on Thursday, March 2nd. Finally, Citigroup Inc. lowered Northrop Grumman Corporation from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $253.80 to $185.08 in a report on Wednesday, March 1st. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $251.51.
Northrop Grumman Corporation (NOC) traded down 0.02% during midday trading on Wednesday, hitting $258.59. The company had a trading volume of 735,518 shares. Northrop Grumman Corporation has a one year low of $206.69 and a one year high of $262.43. The company has a market cap of $45.14 billion, a P/E ratio of 20.23 and a beta of 0.69. The company’s 50 day moving average is $252.04 and its 200-day moving average is $241.96.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 21st. Shareholders of record on Monday, June 5th will be given a $1.00 dividend. This is an increase from Northrop Grumman Corporation’s previous quarterly dividend of $0.90. The ex-dividend date is Thursday, June 1st. This represents a $4.00 annualized dividend and a yield of 1.55%. Northrop Grumman Corporation’s payout ratio is presently 31.27%.
In other Northrop Grumman Corporation news, CEO Wesley G. Bush sold 33,976 shares of Northrop Grumman Corporation stock in a transaction on Wednesday, May 3rd. The stock was sold at an average price of $244.74, for a total value of $8,315,286.24. Following the completion of the transaction, the chief executive officer now owns 1 shares in the company, valued at approximately $244.74. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Christopher T. Jones sold 240 shares of Northrop Grumman Corporation stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $237.58, for a total value of $57,019.20. Following the completion of the transaction, the vice president now owns 61,686 shares of the company’s stock, valued at approximately $14,655,359.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,894 shares of company stock valued at $16,830,275. Corporate insiders own 0.70% of the company’s stock.
A number of institutional investors have recently modified their holdings of NOC. Ffcm LLC acquired a new position in shares of Northrop Grumman Corporation during the fourth quarter valued at about $1,113,000. Holderness Investments Co. increased its stake in Northrop Grumman Corporation by 2.8% in the fourth quarter. Holderness Investments Co. now owns 1,867 shares of the aerospace company’s stock worth $434,000 after buying an additional 50 shares during the last quarter. Radnor Capital Management LLC purchased a new stake in Northrop Grumman Corporation during the fourth quarter worth $4,684,000. ING Groep NV increased its stake in Northrop Grumman Corporation by 53.2% in the fourth quarter. ING Groep NV now owns 10,155 shares of the aerospace company’s stock worth $2,362,000 after buying an additional 3,526 shares during the last quarter. Finally, Confluence Wealth Management LLC purchased a new stake in Northrop Grumman Corporation during the fourth quarter worth $781,000. Hedge funds and other institutional investors own 82.20% of the company’s stock.
Northrop Grumman Corporation Company Profile
Northrop Grumman Corporation is a global security company. The Company provides products, systems and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance and reconnaissance (C4ISR); strike, and logistics and modernization. The Company’s segments include Aerospace Systems, Mission Systems and Technology Services.
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