Northrop Grumman (NYSE:NOC) Updates FY 2024 Earnings Guidance

Northrop Grumman (NYSE:NOC) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 25.650-26.050 for the period, compared to the consensus estimate of 25.020. The company issued revenue guidance of $41.0 billion-$41.4 billion, compared to the consensus revenue estimate of $41.4 billion. Northrop Grumman also updated its FY24 guidance to $25.65-26.05 EPS.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Alembic Global Advisors lowered shares of Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $560.00 price objective for the company. in a research report on Tuesday, August 27th. Royal Bank of Canada raised their target price on shares of Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a research report on Friday. StockNews.com raised shares of Northrop Grumman from a “hold” rating to a “buy” rating in a research report on Friday, July 12th. Deutsche Bank Aktiengesellschaft upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating and increased their target price for the stock from $474.00 to $575.00 in a research note on Monday, July 29th. Finally, UBS Group lifted their price target on shares of Northrop Grumman from $593.00 to $605.00 and gave the company a “buy” rating in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $545.06.

Northrop Grumman Stock Down 0.8 %

Northrop Grumman stock traded down $4.31 during midday trading on Friday, reaching $519.37. The stock had a trading volume of 271,007 shares, compared to its average volume of 872,431. The firm’s fifty day simple moving average is $523.28 and its 200-day simple moving average is $480.60. Northrop Grumman has a 1-year low of $418.60 and a 1-year high of $555.57. The stock has a market capitalization of $75.95 billion, a P/E ratio of 33.92, a price-to-earnings-growth ratio of 2.38 and a beta of 0.34. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.99 and a current ratio of 1.11.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings data on Thursday, October 24th. The aerospace company reported $7.00 earnings per share for the quarter, topping the consensus estimate of $6.07 by $0.93. The firm had revenue of $10 billion during the quarter, compared to analyst estimates of $10.18 billion. Northrop Grumman had a return on equity of 25.44% and a net margin of 5.61%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period last year, the company posted $6.18 EPS. As a group, analysts expect that Northrop Grumman will post 25.16 EPS for the current fiscal year.

Northrop Grumman Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd were paid a $2.06 dividend. This represents a $8.24 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend was Tuesday, September 3rd. Northrop Grumman’s payout ratio is currently 53.79%.

Insiders Place Their Bets

In related news, VP Thomas H. Jones sold 1,390 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $500.00, for a total value of $695,000.00. Following the completion of the sale, the vice president now owns 4,634 shares in the company, valued at approximately $2,317,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders have sold 1,490 shares of company stock worth $747,372. Company insiders own 0.22% of the company’s stock.

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.