Northrop Grumman (NOC) Set to Announce Earnings on Thursday

Northrop Grumman (NYSE:NOC) will issue its quarterly earnings data before the market opens on Thursday, April 25th. Analysts expect the company to announce earnings of $5.81 per share for the quarter. Northrop Grumman has set its FY24 guidance at $24.45-24.85 EPS.Individual interested in registering for the company’s earnings conference call can do so using this link.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings data on Thursday, January 25th. The aerospace company reported $6.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.80 by $0.47. The firm had revenue of $10.64 billion during the quarter, compared to analysts’ expectations of $10.43 billion. Northrop Grumman had a return on equity of 23.07% and a net margin of 5.23%. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter last year, the firm earned $7.50 earnings per share. On average, analysts expect Northrop Grumman to post $25 EPS for the current fiscal year and $28 EPS for the next fiscal year.

Northrop Grumman Price Performance

Shares of NOC opened at $470.98 on Tuesday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.05 and a current ratio of 1.15. The firm has a market cap of $69.80 billion, a PE ratio of 34.94, a PEG ratio of 1.86 and a beta of 0.35. Northrop Grumman has a twelve month low of $414.56 and a twelve month high of $496.89. The firm’s 50 day moving average price is $460.10 and its 200 day moving average price is $465.12.

Northrop Grumman Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Monday, February 26th were issued a dividend of $1.87 per share. The ex-dividend date was Friday, February 23rd. This represents a $7.48 annualized dividend and a yield of 1.59%. Northrop Grumman’s dividend payout ratio (DPR) is currently 55.49%.

Insider Buying and Selling

In other Northrop Grumman news, VP Kathryn G. Simpson sold 1,273 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $450.37, for a total value of $573,321.01. Following the sale, the vice president now owns 2,735 shares in the company, valued at $1,231,761.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, VP Kathryn G. Simpson sold 1,273 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $450.37, for a total value of $573,321.01. Following the transaction, the vice president now owns 2,735 shares in the company, valued at approximately $1,231,761.95. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Kathryn G. Simpson sold 711 shares of Northrop Grumman stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $453.22, for a total value of $322,239.42. Following the sale, the vice president now directly owns 2,024 shares of the company’s stock, valued at $917,317.28. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,149 shares of company stock worth $1,421,147. Insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

NOC has been the topic of several recent analyst reports. StockNews.com downgraded Northrop Grumman from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. Robert W. Baird reduced their price target on shares of Northrop Grumman from $505.00 to $475.00 and set a “neutral” rating on the stock in a research report on Friday, January 26th. TheStreet cut Northrop Grumman from a “b+” rating to a “c+” rating in a report on Thursday, January 25th. Alembic Global Advisors raised Northrop Grumman from a “neutral” rating to an “overweight” rating and set a $532.00 price target for the company in a report on Monday. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $450.00 price objective (down previously from $515.00) on shares of Northrop Grumman in a research report on Friday, January 26th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $497.23.

About Northrop Grumman

Northrop Grumman Corporation operates as an aerospace and defense technology company in the United States, Asia/Pacific, Europe, and internationally. The company's Aeronautics Systems segment designs, develops, manufactures, integrates, and sustains aircraft systems. This segment also offers unmanned autonomous aircraft systems, including high-altitude long-endurance strategic ISR systems and vertical take-off and landing tactical ISR systems; and strategic long-range strike aircraft, tactical fighter and air dominance aircraft, and airborne battle management and command and control systems.