Zacks: Brokerages Expect Northrop Grumman Co. (NYSE:NOC) Will Post Quarterly Sales of $8.59 Billion

Analysts expect that Northrop Grumman Co. (NYSE:NOC) will post $8.59 billion in sales for the current quarter, according to Zacks. Five analysts have provided estimates for Northrop Grumman’s earnings, with the lowest sales estimate coming in at $8.43 billion and the highest estimate coming in at $8.78 billion. Northrop Grumman reported sales of $8.46 billion in the same quarter last year, which would suggest a positive year over year growth rate of 1.5%. The company is scheduled to issue its next quarterly earnings results on Wednesday, July 22nd.

According to Zacks, analysts expect that Northrop Grumman will report full year sales of $35.19 billion for the current financial year, with estimates ranging from $35.04 billion to $35.31 billion. For the next year, analysts forecast that the business will post sales of $37.72 billion, with estimates ranging from $37.30 billion to $38.00 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Northrop Grumman.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings results on Wednesday, April 29th. The aerospace company reported $5.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. Northrop Grumman’s revenue was up 5.3% on a year-over-year basis. During the same period last year, the business earned $5.06 EPS.

NOC has been the topic of a number of recent analyst reports. Jefferies Financial Group reissued a “buy” rating and issued a $375.00 price target on shares of Northrop Grumman in a report on Thursday, June 25th. Zacks Investment Research raised shares of Northrop Grumman from a “sell” rating to a “hold” rating and set a $320.00 target price on the stock in a research note on Thursday, June 25th. Royal Bank of Canada began coverage on shares of Northrop Grumman in a research note on Wednesday, May 20th. They set a “sector perform” rating and a $366.00 target price on the stock. They noted that the move was a valuation call. Seaport Global Securities began coverage on shares of Northrop Grumman in a research note on Tuesday, May 19th. They set a “buy” rating and a $398.00 target price on the stock. Finally, Sanford C. Bernstein raised shares of Northrop Grumman from a “market perform” rating to an “outperform” rating and cut their target price for the company from $438.00 to $386.00 in a research note on Monday, March 30th. Two 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’s stock. The company has an average rating of “Buy” and a consensus target price of $380.46.

Northrop Grumman stock traded down $3.42 during trading hours on Friday, reaching $305.60. The stock had a trading volume of 9,077 shares, compared to its average volume of 1,040,899. The stock has a market cap of $51.11 billion, a PE ratio of 23.10 and a beta of 0.80. Northrop Grumman has a 52 week low of $263.31 and a 52 week high of $385.01. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.29 and a quick ratio of 1.21. The company has a fifty day simple moving average of $324.23 and a 200-day simple moving average of $339.81.

The firm also recently disclosed 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. The ex-dividend date of this dividend was Friday, May 29th. This represents a $5.80 annualized dividend and a yield of 1.90%. This is a positive change from Northrop Grumman’s previous quarterly dividend of $1.32. Northrop Grumman’s payout ratio is presently 27.35%.

A number of large investors have recently bought and sold shares of the stock. EPIQ Capital Group LLC bought a new stake in Northrop Grumman during the first quarter worth about $1,100,000. Telemus Capital LLC raised its holdings in Northrop Grumman by 0.6% in the first quarter. Telemus Capital LLC now owns 6,077 shares of the aerospace company’s stock worth $2,037,000 after buying an additional 37 shares during the last quarter. Optimal Asset Management Inc. raised its holdings in Northrop Grumman by 99.4% in the first quarter. Optimal Asset Management Inc. now owns 19,326 shares of the aerospace company’s stock worth $5,847,000 after buying an additional 9,636 shares during the last quarter. Coldstream Capital Management Inc. raised its holdings in Northrop Grumman by 13.1% in the first quarter. Coldstream Capital Management Inc. now owns 715 shares of the aerospace company’s stock worth $216,000 after buying an additional 83 shares during the last quarter. Finally, National Pension Service raised its holdings in Northrop Grumman by 1.6% in the first quarter. National Pension Service now owns 207,965 shares of the aerospace company’s stock worth $62,920,000 after buying an additional 3,292 shares during the last quarter. 83.94% of the stock is currently owned by institutional investors and hedge funds.

Northrop Grumman Company Profile

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 and Estimates for Northrop Grumman (NYSE:NOC)

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