Wall Street brokerages forecast that Northrop Grumman Co. (NYSE:NOC) will report sales of $8.59 billion for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued 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 expected to announce 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 fiscal year, with estimates ranging from $35.04 billion to $35.31 billion. For the next fiscal year, analysts expect that the firm will report 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 research analysts that that provide coverage for Northrop Grumman.
Northrop Grumman (NYSE:NOC) last issued its quarterly earnings results on Wednesday, April 29th. The aerospace company reported $5.15 earnings per share for the quarter, missing analysts’ consensus estimates of $5.51 by ($0.36). Northrop Grumman had a net margin of 6.57% and a return on equity of 39.22%. The business had revenue of $8.62 billion for the quarter, compared to analysts’ expectations of $8.54 billion. During the same quarter in the prior year, the firm posted $5.06 EPS. The business’s quarterly revenue was up 5.3% compared to the same quarter last year.
Several analysts have recently issued reports on the company. UBS Group cut their price objective on Northrop Grumman from $410.00 to $373.00 and set a “neutral” rating for the company in a research report on Thursday, June 11th. Sanford C. Bernstein raised Northrop Grumman from a “market perform” rating to an “outperform” rating and cut their price objective for the stock from $438.00 to $386.00 in a research report on Monday, March 30th. Seaport Global Securities began coverage on Northrop Grumman in a research report on Tuesday, May 19th. They set a “buy” rating and a $398.00 price objective for the company. Morgan Stanley boosted their price objective on Northrop Grumman from $380.00 to $412.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 14th. Finally, ValuEngine cut Northrop Grumman from a “hold” rating to a “sell” rating in a research report on Wednesday, June 3rd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $380.46.
NYSE NOC traded down $3.42 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 business has a 50 day moving average price of $324.23 and a 200 day moving average price of $339.81. The company has a current ratio of 1.29, a quick ratio of 1.21 and a debt-to-equity ratio of 1.72. Northrop Grumman has a 1 year low of $263.31 and a 1 year high of $385.01. The company has a market capitalization of $51.11 billion, a price-to-earnings ratio of 23.10 and a beta of 0.80.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Monday, June 1st were paid a $1.45 dividend. This is a positive change from Northrop Grumman’s previous quarterly dividend of $1.32. This represents a $5.80 annualized dividend and a dividend yield of 1.90%. The ex-dividend date was Friday, May 29th. Northrop Grumman’s dividend payout ratio is currently 27.35%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NOC. Orser Capital Management LLC grew its position in Northrop Grumman by 3.3% during the 4th quarter. Orser Capital Management LLC now owns 7,494 shares of the aerospace company’s stock worth $2,616,000 after acquiring an additional 239 shares during the last quarter. S.E.E.D. Planning Group LLC bought a new position in Northrop Grumman in the 4th quarter valued at $209,000. Mine & Arao Wealth Creation & Management LLC. bought a new position in Northrop Grumman in the 4th quarter valued at $654,000. Victory Capital Management Inc. boosted its position in Northrop Grumman by 6.4% in the 4th quarter. Victory Capital Management Inc. now owns 84,008 shares of the aerospace company’s stock valued at $28,896,000 after buying an additional 5,017 shares during the last quarter. Finally, Rafferty Asset Management LLC boosted its position in Northrop Grumman by 19.9% in the 4th quarter. Rafferty Asset Management LLC now owns 6,250 shares of the aerospace company’s stock valued at $2,150,000 after buying an additional 1,038 shares during the last quarter. Institutional investors and hedge funds own 83.94% of the company’s stock.
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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