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

Northrop Grumman (NYSE:NOC) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 24.450-24.850 for the period, compared to the consensus EPS estimate of 24.650. The company issued revenue guidance of $40.8 billion-$41.2 billion, compared to the consensus revenue estimate of $41.1 billion.

Wall Street Analyst Weigh In

A number of research firms recently commented on NOC. TheStreet lowered Northrop Grumman from a b+ rating to a c+ rating in a research report on Thursday, January 25th. Robert W. Baird increased their price objective on shares of Northrop Grumman from $475.00 to $505.00 and gave the company a neutral rating in a report on Friday. StockNews.com lowered Northrop Grumman from a buy rating to a hold rating in a research note on Monday, January 29th. Susquehanna boosted their price target on shares of Northrop Grumman from $540.00 to $560.00 and gave the company a positive rating in a report on Friday. Finally, Alembic Global Advisors upgraded Northrop Grumman from a neutral rating to an overweight rating and set a $532.00 price objective for the company in a research report on Monday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of Hold and a consensus target price of $503.00.

Northrop Grumman Stock Performance

Shares of Northrop Grumman stock traded down $7.53 during trading on Friday, hitting $480.53. 1,371,921 shares of the stock were exchanged, compared to its average volume of 1,006,915. The company has a current ratio of 1.15, a quick ratio of 1.05 and a debt-to-equity ratio of 0.93. The company has a fifty day moving average price of $462.00 and a 200-day moving average price of $465.71. The stock has a market capitalization of $71.21 billion, a price-to-earnings ratio of 35.72, a price-to-earnings-growth ratio of 1.91 and a beta of 0.35. Northrop Grumman has a 1-year low of $414.56 and a 1-year high of $496.89.

Northrop Grumman (NYSE:NOC) last posted its earnings results on Thursday, April 25th. The aerospace company reported $6.32 earnings per share for the quarter, topping analysts’ consensus estimates of $5.83 by $0.49. Northrop Grumman had a return on equity of 23.07% and a net margin of 5.23%. The business had revenue of $10.13 billion for the quarter, compared to analyst estimates of $9.77 billion. During the same period in the previous year, the firm earned $5.50 EPS. The firm’s revenue was up 8.9% compared to the same quarter last year. As a group, equities analysts predict that Northrop Grumman will post 24.67 EPS for the current fiscal year.

Northrop Grumman Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Monday, February 26th were given a dividend of $1.87 per share. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $7.48 annualized dividend and a yield of 1.56%. Northrop Grumman’s dividend payout ratio (DPR) is presently 55.49%.

Insider Transactions at Northrop Grumman

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 directly 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 at this hyperlink. In other Northrop Grumman news, VP Kathryn G. Simpson sold 1,273 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $450.37, for a total transaction 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Michael A. Hardesty sold 955 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $450.37, for a total value of $430,103.35. Following the completion of the transaction, the chief accounting officer now owns 4,137 shares in the company, valued at approximately $1,863,180.69. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,149 shares of company stock worth $1,421,147. 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.