Northrop Grumman Raised to “Outperform” at RBC Capital (NOC)
Northrop Grumman (NYSE:NOC) was upgraded by investment analysts at RBC Capital from a “sector perform” rating to an “outperform” rating in a note issued to investors on Tuesday, TheFlyOnTheWall.com reports. The firm currently has a $148.00 price target on the stock, up from their previous price target of $143.00. RBC Capital’s price target suggests a potential upside of 16.33% from the stock’s previous close. The analysts noted that the move was a valuation call.
A number of other analysts have also recently weighed in on NOC. Analysts at Barclays raised their price target on shares of Northrop Grumman from $130.00 to $132.00 in a research note on Monday, August 11th. They now have an “equal weight” rating on the stock. Separately, analysts at Argus upgraded shares of Northrop Grumman to a “hold” rating in a research note on Monday, July 28th. They now have a $115.00 price target on the stock. Finally, analysts at Credit Suisse reiterated a “neutral” rating on shares of Northrop Grumman in a research note on Monday, July 28th. They now have a $130.00 price target on the stock, up previously from $128.00. Eleven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Northrop Grumman presently has an average rating of “Hold” and a consensus target price of $128.79.
Shares of Northrop Grumman (NYSE:NOC) traded up 0.95% on Tuesday, hitting $128.43. 861,216 shares of the company’s stock traded hands. Northrop Grumman has a 1-year low of $92.32 and a 1-year high of $128.66. The stock’s 50-day moving average is $125.2 and its 200-day moving average is $122.1. The company has a market cap of $26.705 billion and a price-to-earnings ratio of 13.73.
Northrop Grumman (NYSE:NOC) last released its earnings data on Wednesday, July 23rd. The company reported $2.37 earnings per share for the quarter, beating the analysts’ consensus estimate of $2.22 by $0.15. The company had revenue of $6.00 billion for the quarter, compared to the consensus estimate of $5.97 billion. During the same quarter last year, the company posted $2.05 earnings per share. Northrop Grumman’s revenue was down 4.1% compared to the same quarter last year. Analysts expect that Northrop Grumman will post $9.41 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, September 17th. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Thursday, August 28th.
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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