Jefferies Financial Group Research Analysts Decrease Earnings Estimates for Northrop Grumman Co. (NOC)

Northrop Grumman Co. (NYSE:NOC) – Investment analysts at Jefferies Financial Group cut their FY2020 earnings per share (EPS) estimates for shares of Northrop Grumman in a research note issued on Tuesday, October 30th. Jefferies Financial Group analyst S. Kahyaoglu now forecasts that the aerospace company will earn $20.65 per share for the year, down from their prior forecast of $21.00. Jefferies Financial Group has a “Buy” rating and a $324.00 price objective on the stock.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings results on Wednesday, October 24th. The aerospace company reported $6.54 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.35 by $2.19. The company had revenue of $8.09 billion for the quarter, compared to analyst estimates of $7.99 billion. Northrop Grumman had a net margin of 9.62% and a return on equity of 38.27%. Northrop Grumman’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same quarter last year, the business earned $3.67 EPS.



A number of other brokerages have also weighed in on NOC. Zacks Investment Research lowered shares of Northrop Grumman from a “strong-buy” rating to a “hold” rating in a report on Friday, October 26th. Buckingham Research upgraded shares of Northrop Grumman from a “neutral” rating to a “buy” rating and lifted their price target for the company from $246.00 to $371.00 in a report on Tuesday, July 31st. They noted that the move was a valuation call. UBS Group initiated coverage on shares of Northrop Grumman in a report on Wednesday, August 15th. They issued a “neutral” rating and a $315.00 price target on the stock. Citigroup decreased their price target on shares of Northrop Grumman from $370.00 to $350.00 and set a “buy” rating on the stock in a report on Thursday, October 25th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Northrop Grumman from $375.00 to $360.00 and set an “overweight” rating on the stock in a report on Friday, July 27th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $357.18.

Shares of NOC opened at $261.95 on Wednesday. The firm has a market capitalization of $46.85 billion, a price-to-earnings ratio of 19.73, a P/E/G ratio of 1.19 and a beta of 0.67. Northrop Grumman has a fifty-two week low of $251.66 and a fifty-two week high of $360.88. The company has a current ratio of 1.26, a quick ratio of 1.17 and a debt-to-equity ratio of 1.53.

In other news, VP Mark A. Caylor sold 4,543 shares of the firm’s stock in a transaction on Thursday, August 30th. The shares were sold at an average price of $297.45, for a total value of $1,351,315.35. Following the transaction, the vice president now owns 24,592 shares of the company’s stock, valued at approximately $7,314,890.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Sheila C. Cheston sold 10,440 shares of the firm’s stock in a transaction on Wednesday, October 3rd. The shares were sold at an average price of $320.00, for a total transaction of $3,340,800.00. Following the completion of the transaction, the vice president now directly owns 43,696 shares in the company, valued at approximately $13,982,720. The disclosure for this sale can be found here. In the last three months, insiders sold 21,185 shares of company stock worth $6,604,107. Insiders own 0.62% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Waddell & Reed Financial Inc. increased its stake in Northrop Grumman by 13.1% during the 2nd quarter. Waddell & Reed Financial Inc. now owns 668,613 shares of the aerospace company’s stock worth $205,732,000 after buying an additional 77,611 shares during the period. Fluent Financial LLC increased its stake in Northrop Grumman by 16.4% during the 2nd quarter. Fluent Financial LLC now owns 3,129 shares of the aerospace company’s stock worth $963,000 after buying an additional 440 shares during the period. California Public Employees Retirement System increased its stake in Northrop Grumman by 21.9% during the 2nd quarter. California Public Employees Retirement System now owns 482,808 shares of the aerospace company’s stock worth $148,560,000 after buying an additional 86,735 shares during the period. Centaurus Financial Inc. increased its stake in Northrop Grumman by 370.3% during the 2nd quarter. Centaurus Financial Inc. now owns 1,980 shares of the aerospace company’s stock worth $609,000 after buying an additional 1,559 shares during the period. Finally, Point72 Hong Kong Ltd purchased a new stake in Northrop Grumman during the 2nd quarter worth $389,000. 81.69% of the stock is currently owned by institutional investors and hedge funds.

About Northrop Grumman

Northrop Grumman Corporation operates as a security company for government and commercial customers worldwide. It provides products, systems, and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance, and reconnaissance (C4ISR); strike; and logistics and modernization.

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

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