Zacks: Brokerages Expect Northrop Grumman (NOC) Will Post Earnings of $3.63 Per Share

Analysts predict that Northrop Grumman (NYSE:NOC) will post earnings of $3.63 per share for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Northrop Grumman’s earnings, with estimates ranging from $3.51 to $3.75. Northrop Grumman also posted earnings of $3.63 per share during the same quarter last year. The firm is expected to report its next quarterly earnings results before the market opens on Wednesday, April 25th.

On average, analysts expect that Northrop Grumman will report full-year earnings of $15.55 per share for the current financial year, with EPS estimates ranging from $15.25 to $15.95. For the next financial year, analysts forecast that the company will report earnings of $17.97 per share, with EPS estimates ranging from $16.50 to $19.00. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that follow Northrop Grumman.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings results on Wednesday, April 25th. The aerospace company reported $4.21 earnings per share for the quarter, beating analysts’ consensus estimates of $3.62 by $0.59. Northrop Grumman had a net margin of 7.81% and a return on equity of 37.28%. The business had revenue of $6.74 billion for the quarter, compared to analysts’ expectations of $6.62 billion. During the same period last year, the business earned $3.63 EPS. The company’s revenue was up 7.5% compared to the same quarter last year.

A number of research firms have recently weighed in on NOC. Morgan Stanley raised their price target on shares of Northrop Grumman from $365.00 to $378.00 and gave the company an “equal weight” rating in a report on Thursday, April 12th. Zacks Investment Research upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating and set a $386.00 price target on the stock in a report on Thursday, March 29th. Barclays began coverage on shares of Northrop Grumman in a report on Thursday, March 29th. They issued an “overweight” rating and a $400.00 price target on the stock. Citigroup restated a “buy” rating and issued a $405.00 price target on shares of Northrop Grumman in a report on Monday, March 12th. Finally, ValuEngine upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Three investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Northrop Grumman has a consensus rating of “Buy” and an average price target of $364.87.

In related news, VP Denise M. Peppard sold 2,539 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $335.12, for a total value of $850,869.68. Following the completion of the transaction, the vice president now directly owns 38,613 shares of the company’s stock, valued at approximately $12,939,988.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Michael A. Hardesty sold 2,941 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $351.06, for a total transaction of $1,032,467.46. Following the completion of the transaction, the vice president now directly owns 9,202 shares of the company’s stock, valued at $3,230,454.12. The disclosure for this sale can be found here. Insiders sold a total of 9,299 shares of company stock valued at $3,220,228 over the last ninety days. 0.62% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the stock. Ibex Wealth Advisors raised its position in Northrop Grumman by 2.1% during the 4th quarter. Ibex Wealth Advisors now owns 7,330 shares of the aerospace company’s stock worth $2,259,000 after buying an additional 153 shares during the last quarter. Clifford Swan Investment Counsel LLC raised its position in Northrop Grumman by 0.6% during the 4th quarter. Clifford Swan Investment Counsel LLC now owns 26,398 shares of the aerospace company’s stock worth $8,102,000 after buying an additional 165 shares during the last quarter. Tarbox Family Office Inc. raised its position in Northrop Grumman by 27.3% during the 4th quarter. Tarbox Family Office Inc. now owns 834 shares of the aerospace company’s stock worth $256,000 after buying an additional 179 shares during the last quarter. Brown Advisory Inc. raised its position in Northrop Grumman by 2.1% during the 4th quarter. Brown Advisory Inc. now owns 9,324 shares of the aerospace company’s stock worth $2,862,000 after buying an additional 189 shares during the last quarter. Finally, Steinberg Global Asset Management raised its position in Northrop Grumman by 6.1% during the 4th quarter. Steinberg Global Asset Management now owns 3,287 shares of the aerospace company’s stock worth $1,009,000 after buying an additional 190 shares during the last quarter. 80.75% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:NOC traded down $8.90 during trading on Wednesday, reaching $332.62. The stock had a trading volume of 2,144,950 shares, compared to its average volume of 1,029,154. Northrop Grumman has a one year low of $243.05 and a one year high of $360.88. The stock has a market capitalization of $61,996.07, a P/E ratio of 25.05, a P/E/G ratio of 2.50 and a beta of 0.78. The company has a debt-to-equity ratio of 2.04, a quick ratio of 2.24 and a current ratio of 2.35.

COPYRIGHT VIOLATION WARNING: “Zacks: Brokerages Expect Northrop Grumman (NOC) Will Post Earnings of $3.63 Per Share” was reported by Macon Daily and is the sole property of of Macon Daily. If you are viewing this piece of content on another publication, it was illegally stolen and reposted in violation of US & international copyright law. The correct version of this piece of content can be viewed at https://macondaily.com/2018/05/18/zacks-brokerages-expect-northrop-grumman-noc-will-post-earnings-of-3-63-per-share-updated-updated-updated.html.

Northrop Grumman Company Profile

Northrop Grumman Corporation operates as a security company for government and commercial customers worldwide. It provides products, systems, and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance, and reconnaissance (C4ISR); strike; and logistics and modernization.

Get a free copy of the Zacks research report on Northrop Grumman (NOC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Northrop Grumman Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northrop Grumman and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply