Brokerages Expect Northrop Grumman Co. (NYSE:NOC) Will Announce Earnings of $5.38 Per Share

Wall Street brokerages forecast that Northrop Grumman Co. (NYSE:NOC) will post earnings per share of $5.38 for the current quarter, Zacks reports. Five analysts have issued estimates for Northrop Grumman’s earnings, with estimates ranging from $5.14 to $5.52. Northrop Grumman posted earnings of $5.06 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 6.3%. The firm is expected to report its next quarterly earnings report on Wednesday, July 22nd.

According to Zacks, analysts expect that Northrop Grumman will report full year earnings of $22.12 per share for the current fiscal year, with EPS estimates ranging from $21.90 to $22.25. For the next fiscal year, analysts anticipate that the firm will report earnings of $25.28 per share, with EPS estimates ranging from $23.90 to $26.20. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover Northrop Grumman.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings results on Wednesday, April 29th. The aerospace company reported $5.15 earnings per share for the quarter, missing the Zacks’ consensus estimate of $5.51 by ($0.36). The firm had revenue of $8.62 billion during the quarter, compared to the consensus estimate of $8.54 billion. Northrop Grumman had a return on equity of 39.22% and a net margin of 6.57%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.06 earnings per share.

A number of brokerages recently weighed in on NOC. Morgan Stanley upped their target price on shares of Northrop Grumman from $380.00 to $412.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 14th. Seaport Global Securities began coverage on shares of Northrop Grumman in a research report on Tuesday, May 19th. They set a “buy” rating and a $398.00 target price for the company. Sanford C. Bernstein upgraded shares of Northrop Grumman from a “market perform” rating to an “outperform” rating and dropped their target price for the stock from $438.00 to $386.00 in a research report on Monday, March 30th. Royal Bank of Canada began coverage on shares of Northrop Grumman in a research report on Wednesday, May 20th. They set a “sector perform” rating and a $366.00 target price for the company. They noted that the move was a valuation call. Finally, Jefferies Financial Group restated a “buy” rating and set a $375.00 target price on shares of Northrop Grumman in a research report on Thursday, June 25th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. Northrop Grumman currently has a consensus rating of “Buy” and a consensus target price of $380.46.

Several institutional investors and hedge funds have recently made changes to their positions in NOC. Orser Capital Management LLC raised its stake in shares of Northrop Grumman by 3.3% in the fourth quarter. Orser Capital Management LLC now owns 7,494 shares of the aerospace company’s stock valued at $2,616,000 after acquiring an additional 239 shares during the period. S.E.E.D. Planning Group LLC purchased a new stake in shares of Northrop Grumman in the fourth quarter valued at $209,000. Mine & Arao Wealth Creation & Management LLC. purchased a new stake in shares of Northrop Grumman in the fourth quarter valued at $654,000. Victory Capital Management Inc. raised its stake in shares of Northrop Grumman by 6.4% in the fourth quarter. Victory Capital Management Inc. now owns 84,008 shares of the aerospace company’s stock valued at $28,896,000 after acquiring an additional 5,017 shares during the period. Finally, Acadian Asset Management LLC raised its stake in shares of Northrop Grumman by 2.4% in the fourth quarter. Acadian Asset Management LLC now owns 2,957 shares of the aerospace company’s stock valued at $1,017,000 after acquiring an additional 69 shares during the period. 83.94% of the stock is currently owned by institutional investors and hedge funds.

Shares of NOC traded down $3.42 during mid-day trading on Thursday, reaching $305.60. The stock had a trading volume of 9,077 shares, compared to its average volume of 1,040,899. The firm has a market cap of $51.11 billion, a price-to-earnings ratio of 23.10 and a beta of 0.80. Northrop Grumman has a 12 month low of $263.31 and a 12 month high of $385.01. The business has a fifty day moving average of $324.23 and a 200 day moving average of $339.81. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.21 and a current ratio of 1.29.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Monday, June 1st were paid a dividend of $1.45 per share. This is an increase from Northrop Grumman’s previous quarterly dividend of $1.32. The ex-dividend date was Friday, May 29th. This represents a $5.80 dividend on an annualized basis and a yield of 1.90%. Northrop Grumman’s dividend payout ratio is presently 27.35%.

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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