Northrop Grumman (NYSE:NOC – Get Free Report) 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.
Northrop Grumman Stock Down 0.0 %
NOC stock opened at $474.57 on Thursday. The stock has a market capitalization of $70.33 billion, a P/E ratio of 35.21, a P/E/G ratio of 1.91 and a beta of 0.35. The firm has a 50-day simple moving average of $461.24 and a 200-day simple moving average of $465.55. The company has a quick ratio of 1.05, a current ratio of 1.15 and a debt-to-equity ratio of 0.93. Northrop Grumman has a 52 week low of $414.56 and a 52 week high of $496.89.
Northrop Grumman (NYSE:NOC – Get Free Report) last released its earnings results on Thursday, January 25th. The aerospace company reported $6.27 EPS for the quarter, topping analysts’ consensus estimates of $5.80 by $0.47. The business had revenue of $10.64 billion during the quarter, compared to analysts’ expectations of $10.43 billion. Northrop Grumman had a net margin of 5.23% and a return on equity of 23.07%. The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $7.50 earnings per share. Equities analysts forecast that Northrop Grumman will post 24.67 earnings per share for the current fiscal year.
Northrop Grumman Dividend Announcement
Wall Street Analysts Forecast Growth
Several research firms have weighed in on NOC. TheStreet lowered shares of Northrop Grumman from a b+ rating to a c+ rating in a report on Thursday, January 25th. Susquehanna reduced their price target on shares of Northrop Grumman from $560.00 to $540.00 and set a positive rating on the stock in a research note on Friday, January 26th. Alembic Global Advisors raised shares of Northrop Grumman from a neutral rating to an overweight rating and set a $532.00 price target on the stock in a research note on Monday. StockNews.com downgraded shares of Northrop Grumman from a buy rating to a hold rating in a research note on Monday, January 29th. Finally, Robert W. Baird reduced their price target on shares of Northrop Grumman from $505.00 to $475.00 and set a neutral rating on the stock in a research note on Friday, January 26th. One equities research 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’s stock. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $497.23.
View Our Latest Analysis on NOC
Insider Buying and Selling at Northrop Grumman
In other Northrop Grumman news, CAO Michael A. Hardesty sold 210 shares of the stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $454.68, for a total value of $95,482.80. Following the sale, the chief accounting officer now directly owns 3,127 shares of the company’s stock, valued at approximately $1,421,784.36. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CAO Michael A. Hardesty sold 210 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $454.68, for a total value of $95,482.80. Following the completion of the transaction, the chief accounting officer now owns 3,127 shares in the company, valued at approximately $1,421,784.36. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Michael A. Hardesty sold 955 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $450.37, for a total transaction of $430,103.35. Following the completion of the transaction, the chief accounting officer now owns 4,137 shares of the company’s stock, valued at approximately $1,863,180.69. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,149 shares of company stock valued at $1,421,147. Insiders own 0.22% of the company’s stock.
Northrop Grumman Company Profile
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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