Northrop Grumman (NYSE:NOC) Releases Earnings Results, Beats Estimates By $0.75 EPS

Northrop Grumman (NYSE:NOC) posted its quarterly earnings data on Thursday. The aerospace company reported $5.49 EPS for the quarter, topping the Zacks’ consensus estimate of $4.74 by $0.75, Briefing.com reports. Northrop Grumman had a net margin of 9.80% and a return on equity of 42.21%. The company had revenue of $8.48 billion during the quarter, compared to the consensus estimate of $8.56 billion. During the same period in the prior year, the business posted $6.54 EPS. The company’s quarterly revenue was up 4.8% on a year-over-year basis. Northrop Grumman updated its FY19 guidance to $20.10-20.35 EPS.

Shares of NOC stock opened at $356.91 on Friday. The firm has a 50 day moving average price of $365.46 and a two-hundred day moving average price of $332.11. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of 1.62. The company has a market capitalization of $59.76 billion, a PE ratio of 16.73, a price-to-earnings-growth ratio of 1.45 and a beta of 0.80. Northrop Grumman has a 12-month low of $223.63 and a 12-month high of $383.89.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Monday, September 9th were given a dividend of $1.32 per share. The ex-dividend date was Friday, September 6th. This represents a $5.28 annualized dividend and a yield of 1.48%. Northrop Grumman’s dividend payout ratio (DPR) is presently 24.75%.

In other news, CEO Kathy J. Warden sold 6,837 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $353.46, for a total transaction of $2,416,606.02. Following the transaction, the chief executive officer now directly owns 99,002 shares of the company’s stock, valued at $34,993,246.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Christopher T. Jones sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $353.19, for a total transaction of $1,765,950.00. Following the transaction, the vice president now directly owns 67,422 shares in the company, valued at $23,812,776.18. The disclosure for this sale can be found here. Company insiders own 0.45% of the company’s stock.

A number of equities analysts have recently commented on the stock. Bank of America restated a “buy” rating and set a $405.00 price objective (up from $355.00) on shares of Northrop Grumman in a research note on Thursday, July 25th. Zacks Investment Research upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating and set a $377.00 target price for the company in a research note on Tuesday, September 10th. Robert W. Baird raised their target price on shares of Northrop Grumman from $300.00 to $364.00 and gave the company an “outperform” rating in a research note on Wednesday, July 10th. Credit Suisse Group raised their target price on shares of Northrop Grumman from $364.00 to $385.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, ValuEngine downgraded shares of Northrop Grumman from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $353.87.

About Northrop Grumman

Northrop Grumman Corporation, a security company, provides products in the areas of autonomous systems, cyber, space, strikes, and logistics and modernizations in the United States, the Asia Pacific, and internationally. The company operates through four segments: Aerospace Systems, Innovation Systems, Mission Systems, and Technology Services.

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Earnings History for Northrop Grumman (NYSE:NOC)

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