Zacks: Brokerages Anticipate Northrop Grumman Corporation (NOC) Will Post Earnings of $2.85 Per Share
Wall Street analysts expect Northrop Grumman Corporation (NYSE:NOC) to report earnings of $2.85 per share for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Northrop Grumman Corporation’s earnings, with estimates ranging from $2.70 to $2.97. Northrop Grumman Corporation posted earnings of $2.60 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 9.6%. The company is scheduled to announce its next earnings report on Wednesday, July 26th.
According to Zacks, analysts expect that Northrop Grumman Corporation will report full year earnings of $12.31 per share for the current fiscal year, with EPS estimates ranging from $11.78 to $12.75. For the next financial year, analysts forecast that the company will post earnings of $13.44 per share, with EPS estimates ranging from $12.65 to $14.00. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that cover Northrop Grumman Corporation.
Northrop Grumman Corporation (NYSE:NOC) last announced its quarterly earnings data on Wednesday, April 26th. The aerospace company reported $3.63 EPS for the quarter, topping the Zacks’ consensus estimate of $2.90 by $0.73. The business had revenue of $6.27 billion during the quarter, compared to the consensus estimate of $6.15 billion. Northrop Grumman Corporation had a return on equity of 38.20% and a net margin of 9.20%. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the previous year, the company posted $3.03 earnings per share.
A number of brokerages have weighed in on NOC. Vertical Research raised Northrop Grumman Corporation from a “hold” rating to a “buy” rating and boosted their price target for the stock from $254.00 to $270.00 in a research report on Wednesday, May 10th. Vetr raised Northrop Grumman Corporation from a “hold” rating to a “buy” rating and set a $253.00 price target for the company in a report on Thursday, March 2nd. Zacks Investment Research raised Northrop Grumman Corporation from a “hold” rating to a “buy” rating and set a $270.00 price target for the company in a report on Thursday, April 13th. Finally, Citigroup Inc. cut Northrop Grumman Corporation from a “buy” rating to a “neutral” rating and cut their price target for the company from $253.80 to $185.08 in a report on Wednesday, March 1st. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Northrop Grumman Corporation currently has an average rating of “Buy” and a consensus price target of $251.51.
Shares of Northrop Grumman Corporation (NYSE NOC) traded down 0.02% during mid-day trading on Wednesday, reaching $258.59. The company’s stock had a trading volume of 735,518 shares. The firm’s 50 day moving average is $252.04 and its 200-day moving average is $241.96. Northrop Grumman Corporation has a 52-week low of $206.69 and a 52-week high of $262.43. The company has a market capitalization of $45.14 billion, a PE ratio of 20.23 and a beta of 0.69.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 21st. Stockholders of record on Monday, June 5th will be paid a $1.00 dividend. This is a positive change from Northrop Grumman Corporation’s previous quarterly dividend of $0.90. This represents a $4.00 annualized dividend and a dividend yield of 1.55%. The ex-dividend date is Thursday, June 1st. Northrop Grumman Corporation’s dividend payout ratio is currently 31.27%.
In other news, CEO Wesley G. Bush sold 33,976 shares of the company’s stock in a transaction that occurred on Wednesday, May 3rd. The stock was sold at an average price of $244.74, for a total value of $8,315,286.24. Following the sale, the chief executive officer now directly owns 1 shares in the company, valued at approximately $244.74. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Christopher T. Jones sold 240 shares of the company’s stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $237.58, for a total value of $57,019.20. Following the completion of the sale, the vice president now owns 61,686 shares in the company, valued at $14,655,359.88. The disclosure for this sale can be found here. Over the last quarter, insiders sold 67,894 shares of company stock worth $16,830,275. Corporate insiders own 0.70% of the company’s stock.
Several large investors have recently added to or reduced their stakes in NOC. BlackRock Inc. raised its stake in Northrop Grumman Corporation by 2,871.7% in the first quarter. BlackRock Inc. now owns 12,775,397 shares of the aerospace company’s stock valued at $3,038,501,000 after buying an additional 12,345,491 shares in the last quarter. FMR LLC raised its stake in Northrop Grumman Corporation by 42.1% in the fourth quarter. FMR LLC now owns 7,786,442 shares of the aerospace company’s stock worth $1,810,970,000 after buying an additional 2,307,519 shares during the period. Alliancebernstein L.P. raised its stake in Northrop Grumman Corporation by 64.6% in the first quarter. Alliancebernstein L.P. now owns 3,149,678 shares of the aerospace company’s stock worth $749,119,000 after buying an additional 1,235,985 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in Northrop Grumman Corporation during the fourth quarter worth approximately $195,206,000. Finally, Winslow Capital Management LLC acquired a new stake in Northrop Grumman Corporation during the first quarter worth approximately $198,691,000. Institutional investors own 82.20% 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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