Northrop Grumman (NYSE:NOC) Updates FY24 Earnings Guidance

by · The Markets Daily

Northrop Grumman (NYSE:NOC – Get Free Report) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $25.65-26.05 for the period, compared to the consensus earnings per share estimate of $25.22. The company issued revenue guidance of $41.0-41.4 billion, compared to the consensus revenue estimate of $41.38 billion. Northrop Grumman also updated its FY 2024 guidance to 25.650-26.050 EPS.

Northrop Grumman Trading Down 0.8 %

Shares of NYSE:NOC opened at $519.35 on Friday. Northrop Grumman has a 52-week low of $418.60 and a 52-week high of $555.57. The stock has a market capitalization of $75.95 billion, a price-to-earnings ratio of 33.90, a PEG 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. The stock’s 50-day simple moving average is $523.54 and its two-hundred day simple moving average is $481.22.

Northrop Grumman (NYSE:NOC – Get Free Report) last announced its earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.07 by $0.93. Northrop Grumman had a net margin of 5.61% and a return on equity of 25.44%. The company had revenue of $10 billion during the quarter, compared to analyst estimates of $10.18 billion. During the same period in the previous year, the business posted $6.18 earnings per share. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. Analysts expect that Northrop Grumman will post 25.16 EPS for the current year.

Northrop Grumman Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd were issued a $2.06 dividend. 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 dividend payout ratio is currently 53.79%.

Analysts Set New Price Targets

Several analysts have issued reports on NOC shares. Barclays upped their price target on Northrop Grumman from $470.00 to $500.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. Royal Bank of Canada boosted their price objective on Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a research note on Friday. TD Cowen upgraded shares of Northrop Grumman to a “hold” rating in a research note on Tuesday, October 8th. Alembic Global Advisors lowered shares of Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $560.00 price target for the company. in a research report on Tuesday, August 27th. Finally, UBS Group increased their price objective on shares of Northrop Grumman from $614.00 to $643.00 and gave the stock a “buy” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Northrop Grumman has a consensus rating of “Hold” and a consensus price target of $547.44.

View Our Latest Analysis on NOC

Insider Transactions at Northrop Grumman

In related news, VP Thomas H. Jones sold 1,390 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $500.00, for a total transaction of $695,000.00. Following the completion of the transaction, the vice president now directly owns 4,634 shares of the company’s stock, valued at approximately $2,317,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders have sold 1,490 shares of company stock valued at $747,372. 0.22% of the stock is currently owned by insiders.

About Northrop Grumman

(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.

See Also