Northrop Grumman Corporation (NOC) Expected to Post Quarterly Sales of $6.32 Billion
Equities research analysts expect that Northrop Grumman Corporation (NYSE:NOC) will announce $6.32 billion in sales for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Northrop Grumman Corporation’s earnings, with the lowest sales estimate coming in at $6.28 billion and the highest estimate coming in at $6.39 billion. Northrop Grumman Corporation reported sales of $6.16 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 2.6%. The company is expected to issue its next earnings results on Wednesday, October 25th.
On average, analysts expect that Northrop Grumman Corporation will report full year sales of $6.32 billion for the current fiscal year, with estimates ranging from $25.24 billion to $25.30 billion. For the next year, analysts forecast that the company will report sales of $26.76 billion per share, with estimates ranging from $26.42 billion to $27.20 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow 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 for the quarter, topping the Thomson Reuters’ consensus estimate 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 for the quarter, compared to analysts’ expectations of $6.21 billion. During the same period in the previous year, the firm posted $2.85 earnings per share. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis.
NOC has been the subject of a number of research reports. Jefferies Group LLC reaffirmed a “hold” rating and set a $269.00 target price on shares of Northrop Grumman Corporation in a report on Friday. Zacks Investment Research cut shares of Northrop Grumman Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Stifel Nicolaus reissued a “hold” rating and issued a $255.00 price target on shares of Northrop Grumman Corporation in a research note on Thursday, September 21st. Vertical Research reissued a “buy” rating and issued a $296.00 price target (up from $280.00) on shares of Northrop Grumman Corporation in a research note on Wednesday, September 20th. Finally, Goldman Sachs Group, Inc. (The) restated a “conviction-buy” rating and set a $309.00 price target on shares of Northrop Grumman Corporation in a research report on Wednesday, August 23rd. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Northrop Grumman Corporation currently has a consensus rating of “Buy” and an average price target of $273.86.
Shares of Northrop Grumman Corporation (NYSE NOC) traded up 1.09% during midday trading on Thursday, reaching $287.72. The company’s stock had a trading volume of 618,558 shares. The firm has a market cap of $50.09 billion, a price-to-earnings ratio of 21.98 and a beta of 0.66. The stock’s 50 day moving average price is $269.39 and its 200 day moving average price is $255.59. Northrop Grumman Corporation has a one year low of $210.60 and a one year high of $287.81.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 13th. Investors of record on Monday, August 28th were given a $1.00 dividend. The ex-dividend date of this dividend was Thursday, August 24th. This represents a $4.00 annualized dividend and a yield of 1.39%. Northrop Grumman Corporation’s payout ratio is 30.56%.
In other Northrop Grumman Corporation news, VP Lisa R. Davis sold 367 shares of Northrop Grumman Corporation stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $263.25, for a total value of $96,612.75. Following the sale, the vice president now owns 961 shares in the company, valued at $252,983.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.70% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Northrop Grumman Corporation by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 12,956,906 shares of the aerospace company’s stock valued at $3,326,168,000 after buying an additional 192,667 shares during the period. BlackRock Inc. lifted its position in Northrop Grumman Corporation by 0.9% in the second quarter. BlackRock Inc. now owns 12,884,929 shares of the aerospace company’s stock valued at $3,307,687,000 after buying an additional 109,532 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Northrop Grumman Corporation by 5.5% in the first quarter. Massachusetts Financial Services Co. MA now owns 4,617,954 shares of the aerospace company’s stock valued at $1,098,335,000 after buying an additional 239,260 shares during the last quarter. Alliancebernstein L.P. lifted its position in Northrop Grumman Corporation by 4.8% in the second quarter. Alliancebernstein L.P. now owns 3,300,832 shares of the aerospace company’s stock valued at $847,357,000 after buying an additional 151,154 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its position in Northrop Grumman Corporation by 41,518.7% in the second quarter. Janus Henderson Group PLC now owns 2,919,969 shares of the aerospace company’s stock valued at $749,585,000 after buying an additional 2,912,953 shares during the last quarter. Institutional investors and hedge funds own 81.37% of the company’s stock.
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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