Zacks: Brokerages Anticipate Northrop Grumman Co. (NYSE:NOC) Will Announce Earnings of $5.97 Per Share

Wall Street analysts forecast that Northrop Grumman Co. (NYSE:NOC) will report $5.97 earnings per share (EPS) for the current quarter, Zacks reports. Three analysts have made estimates for Northrop Grumman’s earnings. The lowest EPS estimate is $5.83 and the highest is $6.14. Northrop Grumman posted earnings of $6.59 per share in the same quarter last year, which would suggest a negative year over year growth rate of 9.4%. The business is scheduled to announce its next quarterly earnings results on Thursday, January 27th.

According to Zacks, analysts expect that Northrop Grumman will report full-year earnings of $25.57 per share for the current financial year, with EPS estimates ranging from $25.45 to $25.82. For the next fiscal year, analysts anticipate that the firm will post earnings of $24.97 per share, with EPS estimates ranging from $24.05 to $25.71. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Northrop Grumman.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings data on Thursday, October 28th. The aerospace company reported $6.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $5.93 by $0.70. Northrop Grumman had a net margin of 12.42% and a return on equity of 39.17%. The business had revenue of $8.72 billion during the quarter, compared to analysts’ expectations of $8.94 billion. During the same period in the previous year, the company earned $5.89 EPS. The company’s revenue for the quarter was down 4.0% on a year-over-year basis.

Several equities analysts recently commented on the stock. The Goldman Sachs Group raised shares of Northrop Grumman from a “sell” rating to a “neutral” rating and set a $350.00 price target for the company in a research report on Thursday, September 23rd. Zacks Investment Research raised shares of Northrop Grumman from a “hold” rating to a “buy” rating and set a $392.00 price objective on the stock in a report on Wednesday, October 6th. UBS Group dropped their price objective on shares of Northrop Grumman from $380.00 to $350.00 and set a “neutral” rating on the stock in a report on Friday, October 29th. Jefferies Financial Group reissued a “buy” rating and set a $410.00 target price on shares of Northrop Grumman in a research note on Monday, November 1st. Finally, Wells Fargo & Company raised their target price on shares of Northrop Grumman from $330.00 to $335.00 and gave the company an “underweight” rating in a research note on Monday, August 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $394.15.

In related news, Director Karl J. Krapek sold 2,800 shares of the firm’s stock in a transaction on Thursday, November 11th. The stock was sold at an average price of $357.25, for a total value of $1,000,300.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.25% 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. Sanders Capital LLC purchased a new position in shares of Northrop Grumman during the 3rd quarter valued at $733,486,000. FMR LLC boosted its holdings in Northrop Grumman by 25.5% during the 2nd quarter. FMR LLC now owns 4,798,182 shares of the aerospace company’s stock valued at $1,743,803,000 after acquiring an additional 974,433 shares during the period. First Trust Advisors LP lifted its holdings in Northrop Grumman by 185.5% in the 2nd quarter. First Trust Advisors LP now owns 752,908 shares of the aerospace company’s stock worth $273,630,000 after buying an additional 489,192 shares during the period. Bessemer Group Inc. lifted its holdings in Northrop Grumman by 226.2% in the 2nd quarter. Bessemer Group Inc. now owns 584,872 shares of the aerospace company’s stock worth $212,560,000 after buying an additional 405,582 shares during the period. Finally, Allen Investment Management LLC raised its position in shares of Northrop Grumman by 106.9% in the 2nd quarter. Allen Investment Management LLC now owns 739,906 shares of the aerospace company’s stock worth $268,904,000 after acquiring an additional 382,377 shares in the last quarter. Hedge funds and other institutional investors own 81.72% of the company’s stock.

NOC stock traded down $2.84 during trading on Thursday, reaching $361.37. 606,958 shares of the company were exchanged, compared to its average volume of 886,701. The company has a market cap of $57.29 billion, a P/E ratio of 12.70, a PEG ratio of 1.57 and a beta of 0.83. Northrop Grumman has a 52-week low of $282.88 and a 52-week high of $408.03. The stock’s 50 day moving average price is $369.12 and its 200 day moving average price is $367.11. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.37 and a current ratio of 1.47.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 15th. Stockholders of record on Monday, November 29th will be issued a $1.57 dividend. This represents a $6.28 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend is Friday, November 26th. Northrop Grumman’s payout ratio is presently 22.07%.

Northrop Grumman Company Profile

Northrop Grumman Corp. is an aerospace and defense company, which engages in the provision of security businesses. It creates and delivers platforms, systems, and solutions in autonomous systems, cyber, command, control, communications and computers, intelligence, surveillance and reconnaissance, strike, and logistics and modernization.

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Earnings History and Estimates for Northrop Grumman (NYSE:NOC)

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