Northrop Grumman (NYSE:NOC) Releases FY 2024 Earnings Guidance

Northrop Grumman (NYSE:NOC) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 25.650-26.050 for the period, compared to the consensus EPS estimate of 25.020. The company issued revenue guidance of $41.0 billion-$41.4 billion, compared to the consensus revenue estimate of $41.4 billion. Northrop Grumman also updated its FY24 guidance to $25.65-26.05 EPS.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on NOC shares. Alembic Global Advisors lowered shares of Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $560.00 price target on the stock. in a research report on Tuesday, August 27th. Citigroup upped their price target on Northrop Grumman from $521.00 to $587.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Barclays lifted their price objective 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. Deutsche Bank Aktiengesellschaft upgraded Northrop Grumman from a “hold” rating to a “buy” rating and upped their target price for the company from $474.00 to $575.00 in a report on Monday, July 29th. Finally, TD Cowen upgraded Northrop Grumman to a “hold” rating in a report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $535.00.

Northrop Grumman Trading Up 1.4 %

NYSE:NOC traded up $7.28 during trading hours on Thursday, reaching $523.68. 1,297,948 shares of the stock were exchanged, compared to its average volume of 875,349. Northrop Grumman has a twelve month low of $418.60 and a twelve month high of $555.57. The business has a 50-day moving average of $522.88 and a two-hundred day moving average of $480.30. The company has a market capitalization of $77.50 billion, a price-to-earnings ratio of 36.62, a PEG ratio of 2.44 and a beta of 0.34. The company has a quick ratio of 0.99, a current ratio of 1.11 and a debt-to-equity ratio of 1.03.

Northrop Grumman (NYSE:NOC) last posted its earnings results on Thursday, October 24th. The aerospace company reported $7.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.07 by $0.93. The firm had revenue of $10 billion for the quarter, compared to analyst estimates of $10.18 billion. Northrop Grumman had a return on equity of 25.44% and a net margin of 5.61%. Northrop Grumman’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.18 EPS. On average, equities analysts predict that Northrop Grumman will post 25.16 EPS for the current year.

Northrop Grumman Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Tuesday, September 3rd were paid a dividend of $2.06 per share. This represents a $8.24 annualized dividend and a yield of 1.57%. The ex-dividend date was Tuesday, September 3rd. Northrop Grumman’s payout ratio is currently 57.62%.

Insiders Place Their Bets

In related news, VP Thomas H. Jones sold 1,390 shares of Northrop Grumman stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $500.00, for a total value of $695,000.00. Following the completion of the transaction, the vice president now directly owns 4,634 shares in the company, valued at approximately $2,317,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, VP Thomas H. Jones sold 1,390 shares of Northrop Grumman stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $500.00, for a total value of $695,000.00. Following the completion of the transaction, the vice president now owns 4,634 shares in the company, valued at $2,317,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Thomas H. Jones sold 1,389 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $477.56, for a total transaction of $663,330.84. Following the completion of the sale, the vice president now directly owns 6,755 shares in the company, valued at approximately $3,225,917.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,879 shares of company stock worth $1,410,703 in the last ninety days. 0.22% of the stock is owned by corporate insiders.

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.