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

by · The Markets Daily

Northrop Grumman (NYSE:NOC – Get Free Report) updated its FY 2024 earnings guidance on Thursday. 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 Upgrades and Downgrades

Several research firms recently weighed in on NOC. Alembic Global Advisors cut shares of Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $560.00 target price for the company. in a research note on Tuesday, August 27th. Wells Fargo & Company increased their target price on shares of Northrop Grumman from $509.00 to $565.00 and gave the stock an “equal weight” 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 note on Friday, July 12th. Deutsche Bank Aktiengesellschaft upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating and lifted their price objective for the company from $474.00 to $575.00 in a report on Monday, July 29th. Finally, Royal Bank of Canada boosted their price objective on shares of Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Northrop Grumman presently has an average rating of “Hold” and an average target price of $545.06.

Check Out Our Latest Stock Report on Northrop Grumman

Northrop Grumman Price Performance

NOC traded down $4.31 during trading on Friday, hitting $519.37. 271,007 shares of the company traded hands, compared to its average volume of 872,431. The stock’s 50-day simple moving average is $523.28 and its two-hundred day simple moving average is $480.60. The company has a market cap of $75.95 billion, a PE ratio of 33.92, a P/E/G ratio of 2.38 and a beta of 0.34. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 1.03. Northrop Grumman has a 1 year low of $418.60 and a 1 year high of $555.57.

Northrop Grumman (NYSE:NOC – Get Free Report) last issued its earnings results on Thursday, October 24th. The aerospace company reported $7.00 EPS for the quarter, beating analysts’ consensus estimates of $6.07 by $0.93. Northrop Grumman had a net margin of 5.61% and a return on equity of 25.44%. The business had revenue of $10 billion during the quarter, compared to analysts’ expectations of $10.18 billion. During the same period in the prior year, the business earned $6.18 earnings per share. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Northrop Grumman will post 25.16 earnings per share for the current fiscal year.

Northrop Grumman Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Tuesday, September 3rd were given a dividend of $2.06 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $8.24 dividend on an annualized basis and a yield of 1.59%. Northrop Grumman’s payout ratio is presently 53.79%.

Insider Activity at Northrop Grumman

In other news, VP Thomas H. Jones sold 1,390 shares of Northrop Grumman stock in a transaction 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 transaction, the vice president now owns 4,634 shares in the company, valued at approximately $2,317,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 1,490 shares of company stock valued at $747,372 in the last 90 days. 0.22% of the stock is owned by corporate insiders.

Northrop Grumman Company Profile

(Get Free Report)

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.

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