Northrop Grumman Corporation (NOC) to Post FY2017 Earnings of $13.20 Per Share, Jefferies Group Forecasts
Northrop Grumman Corporation (NYSE:NOC) – Research analysts at Jefferies Group issued their FY2017 earnings estimates for Northrop Grumman Corporation in a research report issued on Wednesday. Jefferies Group analyst S. Kahyaoglu expects that the aerospace company will post earnings per share of $13.20 for the year. Jefferies Group currently has a “Hold” rating and a $269.00 target price on the stock. Jefferies Group also issued estimates for Northrop Grumman Corporation’s Q4 2017 earnings at $2.74 EPS, FY2018 earnings at $13.60 EPS and FY2019 earnings at $15.15 EPS.
Other research analysts also recently issued research reports about the stock. Royal Bank Of Canada upped their price target on shares of Northrop Grumman Corporation from $324.00 to $347.00 and gave the stock an “outperform” rating in a research report on Thursday. Goldman Sachs Group, Inc. (The) set a $320.00 price target on shares of Northrop Grumman Corporation and gave the stock a “buy” rating in a research report on Thursday. Cowen and Company restated a “hold” rating and set a $300.00 price target (up previously from $275.00) on shares of Northrop Grumman Corporation in a research report on Thursday. Stifel Nicolaus upped their price target on shares of Northrop Grumman Corporation from $255.00 to $300.00 and gave the stock a “hold” rating in a research report on Friday. Finally, Bank of America Corporation set a $350.00 price target on shares of Northrop Grumman Corporation and gave the stock a “buy” rating in a research report on Friday. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Northrop Grumman Corporation has an average rating of “Buy” and an average price target of $290.54.
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Shares of Northrop Grumman Corporation (NOC) opened at 297.66 on Monday. The company has a market capitalization of $51.82 billion, a PE ratio of 22.74 and a beta of 0.68. The stock has a 50 day moving average price of $286.70 and a 200 day moving average price of $265.61. Northrop Grumman Corporation has a one year low of $220.72 and a one year high of $306.61.
Northrop Grumman Corporation (NYSE:NOC) last issued its earnings results on Wednesday, October 25th. The aerospace company reported $3.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.92 by $0.76. Northrop Grumman Corporation had a return on equity of 39.76% and a net margin of 9.24%. The firm had revenue of $6.53 billion for the quarter, compared to analysts’ expectations of $6.33 billion. During the same period in the previous year, the firm posted $3.35 earnings per share. The business’s revenue was up 6.0% compared to the same quarter last year.
In other Northrop Grumman Corporation news, VP Lisa R. Davis sold 367 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $263.25, for a total value of $96,612.75. Following the completion of the sale, the vice president now owns 961 shares in the company, valued at approximately $252,983.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.70% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in NOC. BlackRock Inc. increased its holdings in shares of Northrop Grumman Corporation by 2,871.7% during the 1st quarter. BlackRock Inc. now owns 12,775,397 shares of the aerospace company’s stock worth $3,038,501,000 after buying an additional 12,345,491 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of Northrop Grumman Corporation by 41,518.7% during the 2nd quarter. Janus Henderson Group PLC now owns 2,919,969 shares of the aerospace company’s stock worth $749,585,000 after buying an additional 2,912,953 shares during the last quarter. Winslow Capital Management LLC acquired a new stake in shares of Northrop Grumman Corporation during the 1st quarter worth approximately $198,691,000. Renaissance Technologies LLC increased its holdings in shares of Northrop Grumman Corporation by 331.4% during the 1st quarter. Renaissance Technologies LLC now owns 989,200 shares of the aerospace company’s stock worth $235,271,000 after buying an additional 759,900 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Northrop Grumman Corporation by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 12,764,239 shares of the aerospace company’s stock worth $3,035,847,000 after buying an additional 531,824 shares during the last quarter. Institutional investors and hedge funds own 81.26% of the company’s stock.
About Northrop Grumman Corporation
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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