Brokerages Expect Northrop Grumman Corporation (NOC) to Post $2.93 Earnings Per Share
Brokerages forecast that Northrop Grumman Corporation (NYSE:NOC) will report $2.93 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Northrop Grumman Corporation’s earnings, with the lowest EPS estimate coming in at $2.72 and the highest estimate coming in at $3.22. Northrop Grumman Corporation reported earnings of $3.02 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 3%. The business is expected to issue its next earnings report on Wednesday, October 25th.
On average, analysts expect that Northrop Grumman Corporation will report full year earnings of $12.60 per share for the current fiscal year, with EPS estimates ranging from $12.35 to $13.05. For the next year, analysts expect that the company will post earnings of $13.58 per share, with EPS estimates ranging from $13.40 to $14.00. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Northrop Grumman Corporation.
Northrop Grumman Corporation (NYSE:NOC) last issued its quarterly earnings data on Wednesday, July 26th. The aerospace company reported $3.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.84 by $0.31. Northrop Grumman Corporation had a return on equity of 39.22% and a net margin of 9.20%. The company had revenue of $6.38 billion during the quarter, compared to analysts’ expectations of $6.21 billion. During the same quarter in the previous year, the company posted $2.85 earnings per share. The business’s revenue was up 6.3% on a year-over-year basis.
A number of research firms have recently weighed in on NOC. Zacks Investment Research raised shares of Northrop Grumman Corporation from a “hold” rating to a “buy” rating and set a $305.00 target price for the company in a research report on Tuesday. Royal Bank Of Canada set a $294.00 target price on shares of Northrop Grumman Corporation and gave the company a “buy” rating in a research report on Tuesday, August 29th. Cowen and Company reissued a “hold” rating and set a $275.00 target price on shares of Northrop Grumman Corporation in a research report on Thursday, August 24th. Goldman Sachs Group, Inc. (The) reissued a “conviction-buy” rating and set a $309.00 target price on shares of Northrop Grumman Corporation in a research report on Wednesday, August 23rd. Finally, BidaskClub raised shares of Northrop Grumman Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, August 12th. Six investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $269.86.
Shares of Northrop Grumman Corporation (NOC) opened at 265.87 on Friday. Northrop Grumman Corporation has a one year low of $206.69 and a one year high of $274.61. The company has a market cap of $46.29 billion, a PE ratio of 20.31 and a beta of 0.66. The stock’s 50 day moving average price is $268.01 and its 200-day moving average price is $254.07.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 13th. Shareholders of record on Monday, August 28th will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend is Thursday, August 24th. Northrop Grumman Corporation’s dividend payout ratio is presently 30.56%.
In other Northrop Grumman Corporation news, VP Sid Ashworth sold 3,847 shares of the stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $260.00, for a total value of $1,000,220.00. Following the sale, the vice president now directly owns 69,458 shares in the company, valued at approximately $18,059,080. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Lisa R. Davis sold 367 shares of the stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $263.25, for a total transaction of $96,612.75. Following the completion of the sale, the vice president now owns 961 shares in the company, valued at $252,983.25. The disclosure for this sale can be found here. Corporate insiders own 0.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Benjamin F. Edwards & Company Inc. lifted its stake in Northrop Grumman Corporation by 0.4% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 837 shares of the aerospace company’s stock worth $199,000 after purchasing an additional 3 shares in the last quarter. Concert Wealth Management Inc. lifted its stake in Northrop Grumman Corporation by 0.7% in the 1st quarter. Concert Wealth Management Inc. now owns 1,083 shares of the aerospace company’s stock worth $252,000 after purchasing an additional 8 shares in the last quarter. Salem Investment Counselors Inc. lifted its stake in Northrop Grumman Corporation by 1.2% in the 2nd quarter. Salem Investment Counselors Inc. now owns 812 shares of the aerospace company’s stock worth $208,000 after purchasing an additional 10 shares in the last quarter. Cetera Investment Advisers lifted its stake in Northrop Grumman Corporation by 0.8% in the 2nd quarter. Cetera Investment Advisers now owns 1,278 shares of the aerospace company’s stock worth $328,000 after purchasing an additional 10 shares in the last quarter. Finally, Argent Trust Co lifted its stake in Northrop Grumman Corporation by 0.7% in the 1st quarter. Argent Trust Co now owns 1,691 shares of the aerospace company’s stock worth $401,000 after purchasing an additional 11 shares in the last quarter. Institutional investors and hedge funds own 81.52% of the company’s stock.
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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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