Brokerages predict that Northrop Grumman Co. (NYSE:NOC) will announce sales of $8.55 billion for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Northrop Grumman’s earnings, with estimates ranging from $8.44 billion to $8.63 billion. Northrop Grumman reported sales of $8.09 billion in the same quarter last year, which would suggest a positive year over year growth rate of 5.7%. The business is scheduled to issue its next earnings results on Wednesday, October 23rd.
According to Zacks, analysts expect that Northrop Grumman will report full-year sales of $34.01 billion for the current financial year, with estimates ranging from $33.92 billion to $34.08 billion. For the next fiscal year, analysts expect that the company will post sales of $36.03 billion, with estimates ranging from $35.76 billion to $36.53 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Northrop Grumman.
Northrop Grumman (NYSE:NOC) last released its quarterly earnings results on Wednesday, July 24th. The aerospace company reported $5.06 earnings per share for the quarter, topping analysts’ consensus estimates of $4.64 by $0.42. The business had revenue of $8.46 billion during the quarter, compared to analysts’ expectations of $8.41 billion. Northrop Grumman had a return on equity of 42.21% and a net margin of 9.80%. The company’s revenue was up 18.8% compared to the same quarter last year. During the same period in the prior year, the business posted $4.50 EPS.
A number of equities analysts have recently weighed in on the company. Robert W. Baird increased their price target on Northrop Grumman from $300.00 to $364.00 and gave the stock an “outperform” rating in a report on Wednesday, July 10th. ValuEngine raised Northrop Grumman from a “sell” rating to a “hold” rating in a research note on Saturday, August 10th. UBS Group increased their target price on Northrop Grumman from $300.00 to $330.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 10th. Credit Suisse Group increased their target price on Northrop Grumman from $364.00 to $385.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, Sanford C. Bernstein increased their target price on Northrop Grumman from $344.00 to $368.00 in a research note on Thursday, July 25th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $345.93.
Shares of NYSE NOC traded up $2.69 during mid-day trading on Tuesday, reaching $367.91. 827,300 shares of the company’s stock were exchanged, compared to its average volume of 1,037,315. The firm has a market capitalization of $61.79 billion, a price-to-earnings ratio of 17.25, a PEG ratio of 1.50 and a beta of 0.81. The company has a debt-to-equity ratio of 1.62, a quick ratio of 1.15 and a current ratio of 1.25. Northrop Grumman has a 52-week low of $223.63 and a 52-week high of $377.34. The company’s 50-day moving average is $339.56 and its 200-day moving average is $302.60.
In related news, CEO Kathy J. Warden sold 6,837 shares of the stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $353.46, for a total transaction of $2,416,606.02. Following the transaction, the chief executive officer now owns 99,002 shares of the company’s stock, valued at approximately $34,993,246.92. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Patrick M. Antkowiak sold 1,932 shares of the stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $310.00, for a total value of $598,920.00. Following the transaction, the vice president now directly owns 5,208 shares in the company, valued at approximately $1,614,480. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,740 shares of company stock worth $5,087,496. 0.45% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of NOC. Krane Funds Advisors LLC acquired a new stake in Northrop Grumman in the 2nd quarter valued at about $26,000. Trustcore Financial Services LLC acquired a new stake in Northrop Grumman in the 1st quarter valued at about $27,000. Glassman Wealth Services raised its position in Northrop Grumman by 203.0% in the 1st quarter. Glassman Wealth Services now owns 100 shares of the aerospace company’s stock valued at $27,000 after purchasing an additional 67 shares in the last quarter. Massey Quick Simon & CO. LLC acquired a new stake in Northrop Grumman in the 2nd quarter valued at about $27,000. Finally, Truvestments Capital LLC acquired a new stake in Northrop Grumman in the 1st quarter valued at about $28,000. 83.71% of the stock is currently owned by institutional investors.
About Northrop Grumman
Northrop Grumman Corporation, a security company, provides products in the areas of autonomous systems, cyber, space, strikes, and logistics and modernizations in the United States, the Asia Pacific, and internationally. The company operates through four segments: Aerospace Systems, Innovation Systems, Mission Systems, and Technology Services.
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