Equities analysts expect Northrop Grumman Co. (NYSE:NOC) to report $6.58 billion in sales for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Northrop Grumman’s earnings, with the lowest sales estimate coming in at $6.46 billion and the highest estimate coming in at $6.67 billion. Northrop Grumman reported sales of $6.27 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 4.9%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, April 25th.
On average, analysts expect that Northrop Grumman will report full year sales of $6.58 billion for the current financial year, with estimates ranging from $27.04 billion to $30.35 billion. For the next year, analysts expect that the business will report sales of $29.85 billion per share, with estimates ranging from $28.08 billion to $33.35 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Northrop Grumman.
Northrop Grumman (NYSE:NOC) last released its quarterly earnings results on Thursday, January 25th. The aerospace company reported $2.82 earnings per share for the quarter, beating analysts’ consensus estimates of $2.75 by $0.07. The business had revenue of $6.63 billion for the quarter, compared to the consensus estimate of $6.34 billion. Northrop Grumman had a net margin of 7.81% and a return on equity of 37.28%. Northrop Grumman’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.96 EPS.
A number of research analysts have recently weighed in on the stock. Robert W. Baird restated a “buy” rating and set a $394.00 price target on shares of Northrop Grumman in a report on Friday, January 26th. Royal Bank of Canada raised their price target on shares of Northrop Grumman from $324.00 to $347.00 and gave the company an “outperform” rating in a report on Thursday, October 26th. JPMorgan Chase & Co. upgraded shares of Northrop Grumman from a “neutral” rating to an “overweight” rating and raised their price target for the company from $317.00 to $355.00 in a report on Tuesday, December 12th. Zacks Investment Research downgraded shares of Northrop Grumman from a “buy” rating to a “hold” rating in a report on Friday, January 26th. Finally, Wells Fargo & Co upgraded shares of Northrop Grumman from a “market perform” rating to an “outperform” rating in a report on Tuesday, January 16th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $331.21.
Northrop Grumman (NYSE:NOC) traded down $2.19 during trading on Monday, hitting $348.63. 842,362 shares of the stock were exchanged, compared to its average volume of 1,140,000. The company has a market cap of $60,690.00, a P/E ratio of 26.45, a P/E/G ratio of 2.52 and a beta of 0.82. The company has a quick ratio of 2.24, a current ratio of 2.35 and a debt-to-equity ratio of 2.04. Northrop Grumman has a fifty-two week low of $233.20 and a fifty-two week high of $358.84.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 21st. Investors of record on Monday, March 5th will be issued a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 1.26%. The ex-dividend date is Friday, March 2nd. This is an increase from Northrop Grumman’s previous quarterly dividend of $1.00. Northrop Grumman’s dividend payout ratio (DPR) is 30.35%.
In other Northrop Grumman news, VP Denise M. Peppard sold 2,539 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $335.12, for a total value of $850,869.68. Following the sale, the vice president now directly owns 38,613 shares in the company, valued at approximately $12,939,988.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Michael A. Hardesty sold 2,941 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $351.06, for a total transaction of $1,032,467.46. Following the completion of the sale, the vice president now owns 9,202 shares in the company, valued at $3,230,454.12. The disclosure for this sale can be found here. Company insiders own 0.70% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Assenagon Asset Management S.A. acquired a new stake in Northrop Grumman in the 3rd quarter worth $30,405,000. USS Investment Management Ltd grew its position in Northrop Grumman by 7.0% in the 3rd quarter. USS Investment Management Ltd now owns 27,500 shares of the aerospace company’s stock worth $7,911,000 after purchasing an additional 1,800 shares during the last quarter. Shell Asset Management Co. grew its position in Northrop Grumman by 9.3% in the 3rd quarter. Shell Asset Management Co. now owns 42,114 shares of the aerospace company’s stock worth $5,549,000 after purchasing an additional 3,588 shares during the last quarter. State Treasurer State of Michigan grew its position in Northrop Grumman by 162.8% in the 3rd quarter. State Treasurer State of Michigan now owns 150,917 shares of the aerospace company’s stock worth $43,422,000 after purchasing an additional 93,500 shares during the last quarter. Finally, Wright Investors Service Inc. grew its position in Northrop Grumman by 12.9% in the 4th quarter. Wright Investors Service Inc. now owns 8,865 shares of the aerospace company’s stock worth $2,721,000 after purchasing an additional 1,014 shares during the last quarter. Institutional investors own 81.18% of the company’s stock.
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About Northrop Grumman
Northrop Grumman Corporation is a global security company. The Company provides products, systems and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance and reconnaissance (C4ISR); strike, and logistics and modernization. The Company’s segments include Aerospace Systems, Mission Systems and Technology Services.
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