Northrop Grumman Co. (NYSE:NOC) Expected to Post Quarterly Sales of $8.52 Billion

Wall Street brokerages expect that Northrop Grumman Co. (NYSE:NOC) will post sales of $8.52 billion for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Northrop Grumman’s earnings. The highest sales estimate is $8.69 billion and the lowest is $8.32 billion. Northrop Grumman reported sales of $8.62 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 1.2%. The firm is scheduled to issue its next earnings results before the market opens on Thursday, April 29th.

On average, analysts expect that Northrop Grumman will report full year sales of $35.50 billion for the current financial year, with estimates ranging from $35.45 billion to $35.55 billion. For the next fiscal year, analysts expect that the business will post sales of $37.09 billion, with estimates ranging from $35.45 billion to $37.96 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Northrop Grumman.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings data on Thursday, January 28th. The aerospace company reported $6.59 EPS for the quarter, topping the consensus estimate of $5.70 by $0.89. Northrop Grumman had a net margin of 6.94% and a return on equity of 40.02%. The business had revenue of $10.21 billion for the quarter, compared to analyst estimates of $9.25 billion. During the same period in the previous year, the firm earned $5.61 EPS. The business’s revenue for the quarter was up 17.1% compared to the same quarter last year.

Several equities research analysts recently commented on NOC shares. Morgan Stanley decreased their price objective on shares of Northrop Grumman from $453.00 to $447.00 and set an “overweight” rating on the stock in a research report on Monday, February 8th. Robert W. Baird lowered shares of Northrop Grumman from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $386.00 to $331.00 in a report on Thursday, January 7th. Susquehanna reduced their target price on shares of Northrop Grumman from $380.00 to $350.00 and set a “positive” rating on the stock in a report on Friday, January 29th. They noted that the move was a valuation call. Susquehanna Bancshares lowered their target price on shares of Northrop Grumman from $380.00 to $350.00 and set a “positive” rating for the company in a report on Friday, January 29th. Finally, Credit Suisse Group cut their price target on shares of Northrop Grumman from $377.00 to $353.00 and set an “outperform” rating on the stock in a research note on Friday, January 29th. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $373.08.

In other Northrop Grumman news, VP Lesley A. Kalan sold 1,560 shares of the business’s stock in a transaction dated Monday, March 8th. The stock was sold at an average price of $308.31, for a total transaction of $480,963.60. Following the transaction, the vice president now owns 12,331 shares in the company, valued at $3,801,770.61. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Michael A. Hardesty sold 1,016 shares of the business’s stock in a transaction dated Tuesday, February 16th. The stock was sold at an average price of $296.87, for a total value of $301,619.92. Following the transaction, the chief accounting officer now owns 6,476 shares in the company, valued at approximately $1,922,530.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,286 shares of company stock worth $4,294,598. 0.27% of the stock is currently owned by insiders.

Large investors have recently added to or reduced their stakes in the stock. Childress Capital Advisors LLC acquired a new position in shares of Northrop Grumman in the fourth quarter worth about $25,000. Graves Light Private Wealth Management Inc. acquired a new position in shares of Northrop Grumman in the fourth quarter worth about $28,000. Bellwether Advisors LLC acquired a new position in shares of Northrop Grumman in the fourth quarter worth about $29,000. ELM Advisors LLC acquired a new position in shares of Northrop Grumman in the fourth quarter worth about $30,000. Finally, Carroll Financial Associates Inc. lifted its stake in shares of Northrop Grumman by 56.1% in the fourth quarter. Carroll Financial Associates Inc. now owns 103 shares of the aerospace company’s stock worth $31,000 after acquiring an additional 37 shares in the last quarter. Institutional investors and hedge funds own 82.65% of the company’s stock.

Shares of Northrop Grumman stock traded up $3.83 on Wednesday, hitting $339.95. The company’s stock had a trading volume of 1,005,807 shares, compared to its average volume of 1,175,216. Northrop Grumman has a 52-week low of $282.88 and a 52-week high of $357.12. The company has a quick ratio of 1.36, a current ratio of 1.44 and a debt-to-equity ratio of 1.36. The firm has a fifty day moving average price of $308.82 and a 200-day moving average price of $305.45. The company has a market capitalization of $54.72 billion, a P/E ratio of 23.25 and a beta of 0.75.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 17th. Shareholders of record on Monday, March 1st were paid a dividend of $1.45 per share. This represents a $5.80 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend was Friday, February 26th. Northrop Grumman’s dividend payout ratio is presently 27.35%.

About Northrop Grumman

Northrop Grumman Corporation operates as an aerospace and defense company worldwide. The company operates through four segments: Aeronautics Systems, Defense Systems, Mission Systems, and Space Systems. The Aeronautics Systems segment designs, develops, manufactures, integrates, and sustains aircraft systems for strategic and tactical intelligence, surveillance, and reconnaissance (ISR) missions; and long-range strike aircraft systems, tactical fighter aircrafts, and airborne battle management systems.

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

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