Northrop Grumman Co. (NYSE:NOC) Expected to Post Quarterly Sales of $8.55 Billion

Equities analysts expect that Northrop Grumman Co. (NYSE:NOC) will report sales of $8.55 billion for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Northrop Grumman’s earnings. The lowest sales estimate is $8.44 billion and the highest is $8.63 billion. Northrop Grumman posted sales of $8.09 billion during the same quarter last year, which suggests a positive year over year growth rate of 5.7%. The company is scheduled to report its next earnings report before the market opens on Thursday, October 24th.

On average, analysts expect that Northrop Grumman will report full-year sales of $33.99 billion for the current year, with estimates ranging from $33.92 billion to $34.07 billion. For the next year, analysts anticipate that the business will report sales of $35.96 billion, with estimates ranging from $35.76 billion to $36.15 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Northrop Grumman.

Northrop Grumman (NYSE:NOC) last issued its earnings results on Wednesday, July 24th. The aerospace company reported $5.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.64 by $0.42. The company had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.41 billion. Northrop Grumman had a net margin of 9.80% and a return on equity of 42.21%. The company’s revenue for the quarter was up 18.8% on a year-over-year basis. During the same quarter last year, the firm earned $4.50 EPS.

Several research analysts have recently issued reports on NOC shares. Credit Suisse Group raised their target price on shares of Northrop Grumman from $364.00 to $385.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. ValuEngine lowered shares of Northrop Grumman from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 2nd. Bank of America reaffirmed a “buy” rating and issued a $405.00 target price (up previously from $355.00) on shares of Northrop Grumman in a research note on Thursday, July 25th. Robert W. Baird raised their target price on shares of Northrop Grumman from $300.00 to $364.00 and gave the company an “outperform” rating in a research note on Wednesday, July 10th. Finally, Sanford C. Bernstein raised their target price on shares of Northrop Grumman from $344.00 to $368.00 in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Northrop Grumman currently has a consensus rating of “Buy” and a consensus price target of $353.87.

In related news, VP Christopher T. Jones sold 5,000 shares of Northrop Grumman stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $353.19, for a total transaction of $1,765,950.00. Following the transaction, the vice president now owns 67,422 shares of the company’s stock, valued at approximately $23,812,776.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kathy J. Warden sold 6,837 shares of Northrop Grumman stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $353.46, for a total transaction of $2,416,606.02. Following the transaction, the chief executive officer now directly owns 99,002 shares in the company, valued at approximately $34,993,246.92. The disclosure for this sale can be found here. 0.45% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in NOC. Marshall Wace LLP bought a new position in Northrop Grumman in the first quarter valued at approximately $819,000. Advisory Services Network LLC lifted its stake in Northrop Grumman by 31.7% in the first quarter. Advisory Services Network LLC now owns 1,646 shares of the aerospace company’s stock valued at $444,000 after buying an additional 396 shares in the last quarter. Rockland Trust Co. bought a new position in Northrop Grumman in the second quarter valued at approximately $258,000. Cooper Financial Group bought a new position in Northrop Grumman in the second quarter valued at approximately $223,000. Finally, Crossmark Global Holdings Inc. lifted its stake in Northrop Grumman by 1.8% in the second quarter. Crossmark Global Holdings Inc. now owns 4,307 shares of the aerospace company’s stock valued at $1,392,000 after buying an additional 75 shares in the last quarter. 83.16% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE NOC traded up $0.82 during mid-day trading on Friday, hitting $353.20. The company’s stock had a trading volume of 1,123,030 shares, compared to its average volume of 944,071. The stock has a market cap of $59.29 billion, a price-to-earnings ratio of 16.56, a price-to-earnings-growth ratio of 1.44 and a beta of 0.80. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.25 and a quick ratio of 1.15. Northrop Grumman has a one year low of $223.63 and a one year high of $383.89. The company’s fifty day simple moving average is $365.96 and its 200-day simple moving average is $331.31.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Monday, September 9th were paid a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a yield of 1.49%. The ex-dividend date was Friday, September 6th. Northrop Grumman’s payout ratio is 24.75%.

Northrop Grumman Company Profile

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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Earnings History and Estimates for Northrop Grumman (NYSE:NOC)

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