Northrop Grumman Co. (NYSE:NOC) Expected to Post Quarterly Sales of $8.83 Billion

Wall Street analysts predict that Northrop Grumman Co. (NYSE:NOC) will post $8.83 billion in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Northrop Grumman’s earnings. The lowest sales estimate is $8.72 billion and the highest is $9.03 billion. Northrop Grumman posted sales of $8.16 billion during the same quarter last year, which suggests a positive year over year growth rate of 8.2%. The company is scheduled to report its next quarterly earnings report before the market opens on Thursday, January 30th.

According to Zacks, analysts expect that Northrop Grumman will report full-year sales of $33.96 billion for the current financial year, with estimates ranging from $33.84 billion to $34.15 billion. For the next financial year, analysts forecast that the business will report sales of $35.77 billion, with estimates ranging from $35.48 billion to $36.00 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Northrop Grumman.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings results on Thursday, October 24th. The aerospace company reported $5.49 earnings per share for the quarter, topping the consensus estimate of $4.74 by $0.75. Northrop Grumman had a net margin of 9.05% and a return on equity of 39.12%. The business had revenue of $8.48 billion for the quarter, compared to analysts’ expectations of $8.56 billion. During the same period in the previous year, the company earned $6.54 earnings per share. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year.

Several research analysts recently weighed in on NOC shares. ValuEngine upgraded shares of Northrop Grumman from a “strong sell” rating to a “sell” rating in a report on Friday, January 3rd. Morgan Stanley boosted their price target on shares of Northrop Grumman from $437.00 to $449.00 and gave the stock an “overweight” rating in a report on Thursday, December 12th. Sanford C. Bernstein boosted their price target on shares of Northrop Grumman from $374.00 to $385.00 and gave the stock a “market perform” rating in a report on Friday, October 25th. TheStreet cut shares of Northrop Grumman from a “b-” rating to a “c+” rating in a report on Tuesday, December 24th. Finally, Barclays restated a “buy” rating and set a $455.00 price target on shares of Northrop Grumman in a report on Thursday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $379.09.

A number of hedge funds have recently made changes to their positions in NOC. Nuveen Asset Management LLC raised its position in Northrop Grumman by 32,192.2% in the second quarter. Nuveen Asset Management LLC now owns 1,241,311 shares of the aerospace company’s stock worth $401,079,000 after acquiring an additional 1,237,467 shares during the period. Johanson Financial Advisors Inc. raised its position in Northrop Grumman by 34,416.4% in the fourth quarter. Johanson Financial Advisors Inc. now owns 553,298 shares of the aerospace company’s stock worth $1,609,000 after acquiring an additional 551,695 shares during the period. Millennium Management LLC raised its position in Northrop Grumman by 4,367.2% in the third quarter. Millennium Management LLC now owns 132,944 shares of the aerospace company’s stock worth $49,826,000 after acquiring an additional 129,968 shares during the period. Harel Insurance Investments & Financial Services Ltd. raised its position in Northrop Grumman by 453,189.3% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 126,921 shares of the aerospace company’s stock worth $43,657,000 after acquiring an additional 126,893 shares during the period. Finally, Wedge Capital Management L L P NC bought a new stake in shares of Northrop Grumman in the third quarter valued at approximately $46,550,000. 83.13% of the stock is currently owned by institutional investors and hedge funds.

Northrop Grumman stock traded up $0.14 during midday trading on Friday, hitting $381.64. 738,008 shares of the stock were exchanged, compared to its average volume of 1,123,219. Northrop Grumman has a 52-week low of $263.29 and a 52-week high of $384.68. The stock has a market capitalization of $63.25 billion, a price-to-earnings ratio of 21.60, a price-to-earnings-growth ratio of 1.25 and a beta of 0.76. The business’s 50-day moving average price is $359.47 and its 200-day moving average price is $356.32. The company has a quick ratio of 1.19, a current ratio of 1.29 and a debt-to-equity ratio of 1.55.

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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