Northrop Grumman (NOC) to Release Earnings on Thursday

Northrop Grumman (NYSE:NOC) is set to release its earnings data before the market opens on Thursday, April 25th. Analysts expect Northrop Grumman to post earnings of $5.81 per share for the quarter. Northrop Grumman has set its FY24 guidance at $24.45-24.85 EPS.Individual interested in listening to the company’s earnings conference call can do so using this link.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings results on Thursday, January 25th. The aerospace company reported $6.27 EPS for the quarter, topping the consensus estimate of $5.80 by $0.47. The company had revenue of $10.64 billion during the quarter, compared to analyst estimates of $10.43 billion. Northrop Grumman had a net margin of 5.23% and a return on equity of 23.07%. The firm’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $7.50 EPS. On average, analysts expect Northrop Grumman to post $25 EPS for the current fiscal year and $28 EPS for the next fiscal year.

Northrop Grumman Stock Up 0.7 %

Shares of NYSE NOC opened at $474.40 on Wednesday. The firm has a market cap of $70.31 billion, a price-to-earnings ratio of 35.19, a price-to-earnings-growth ratio of 1.86 and a beta of 0.35. The company’s 50-day simple moving average is $460.67 and its 200-day simple moving average is $465.48. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Monday, February 26th were issued a $1.87 dividend. This represents a $7.48 annualized dividend and a yield of 1.58%. The ex-dividend date was Friday, February 23rd. Northrop Grumman’s payout ratio is 55.49%.

Insiders Place Their Bets

In other Northrop Grumman news, CAO Michael A. Hardesty sold 210 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $454.68, for a total transaction of $95,482.80. Following the sale, the chief accounting officer now directly owns 3,127 shares in the company, valued at $1,421,784.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Northrop Grumman news, CAO Michael A. Hardesty sold 210 shares of the business’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 $1,421,784.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Kathryn G. Simpson sold 711 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $453.22, for a total value of $322,239.42. Following the completion of the sale, the vice president now owns 2,024 shares in the company, valued at $917,317.28. The disclosure for this sale can be found here. Insiders have sold 3,149 shares of company stock worth $1,421,147 over the last ninety days. Corporate insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on NOC shares. Susquehanna lowered their price target on 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 upgraded Northrop Grumman from a “neutral” rating to an “overweight” rating and set a $532.00 target price on the stock in a report on Monday. TheStreet cut Northrop Grumman from a “b+” rating to a “c+” rating in a report on Thursday, January 25th. Royal Bank of Canada reissued a “sector perform” rating and set a $450.00 price objective (down previously from $515.00) on shares of Northrop Grumman in a research note on Friday, January 26th. Finally, StockNews.com downgraded Northrop Grumman from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Northrop Grumman has a consensus rating of “Hold” and an average price target of $497.23.

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.