Northrop Grumman Corp. (NOC) Issues FY13 Earnings Guidance
Northrop Grumman Corp. (NYSE:NOC) updated its FY13 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $8.00-8.15 for the period, compared to the Thomson Reuters consensus estimate of $7.76, Analyst Ratings Net reports. The company issued revenue guidance of approx $24400, compared to the consensus revenue estimate of $24.35 billion.
NOC has been the subject of a number of recent research reports. Analysts at Zacks reiterated a neutral rating on shares of Northrop Grumman Corp. in a research note to investors on Monday, August 26th. They now have a $99.00 price target on the stock. On a related note, analysts at UBS AG upgraded shares of Northrop Grumman Corp. from a sell rating to a neutral rating in a research note to investors on Monday, August 19th. They now have a $94.00 price target on the stock, up previously from $78.00. Finally, analysts at Barclays raised their price target on shares of Northrop Grumman Corp. from $69.00 to $95.00 in a research note to investors on Monday, August 12th. They now have an equal weight rating on the stock. Eleven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Northrop Grumman Corp. currently has an average rating of Hold and a consensus target price of $91.08.
Shares of Northrop Grumman Corp. (NYSE:NOC) opened at 101.46 on Wednesday. Northrop Grumman Corp. has a 1-year low of $62.80 and a 1-year high of $96.42. The stock’s 50-day moving average is $93.92 and its 200-day moving average is $81.24. The company has a market cap of $23.353 billion and a P/E ratio of 12.61.
Northrop Grumman Corp. (NYSE:NOC) last released its earnings data on Wednesday, October 23rd. The company reported $2.14 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.82 by $0.32. The company had revenue of $6.10 billion for the quarter, compared to the consensus estimate of $5.96 billion. During the same quarter last year, the company posted $1.82 earnings per share. Northrop Grumman Corp.’s revenue was down 2.6% compared to the same quarter last year. On average, analysts predict that Northrop Grumman Corp. will post $7.75 earnings per share for the current fiscal year.
Northrop Grumman Corporation (NYSE:NOC) provides products, services, and integrated solutions in aerospace, electronics, information and services to its global customers.
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