Equities analysts expect Northrop Grumman Co. (NYSE:NOC) to post earnings of $2.86 per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Northrop Grumman’s earnings, with the highest EPS estimate coming in at $2.97 and the lowest estimate coming in at $2.70. Northrop Grumman posted earnings per share of $2.60 in the same quarter last year, which would indicate a positive year over year growth rate of 10%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, July 26th.
On average, analysts expect that Northrop Grumman will report full-year earnings of $12.28 per share for the current financial year, with EPS estimates ranging from $11.85 to $12.75. For the next fiscal year, analysts anticipate that the firm will post earnings of $13.45 per share, with EPS estimates ranging from $12.65 to $14.00. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that follow Northrop Grumman.
Northrop Grumman (NYSE:NOC) last announced its quarterly earnings data on Wednesday, April 26th. The aerospace company reported $3.63 earnings per share for the quarter, beating the consensus estimate of $2.90 by $0.73. Northrop Grumman had a net margin of 8.98% and a return on equity of 35.74%. The firm had revenue of $6.27 billion for the quarter, compared to analyst estimates of $6.15 billion. During the same quarter in the prior year, the business earned $3.03 earnings per share. The business’s quarterly revenue was up 5.2% compared to the same quarter last year.
NOC has been the topic of several recent analyst reports. Robert W. Baird reaffirmed an “outperform” rating and set a $260.00 target price on shares of Northrop Grumman in a research note on Friday, January 20th. Vetr raised Northrop Grumman from a “hold” rating to a “buy” rating and set a $253.00 target price on the stock in a research note on Wednesday, February 22nd. Wolfe Research raised Northrop Grumman from a “market perform” rating to an “outperform” rating in a research note on Friday, January 27th. Citigroup Inc downgraded Northrop Grumman from a “buy” rating to a “neutral” rating and cut their target price for the company from $253.80 to $185.08 in a research note on Wednesday, March 1st. Finally, Zacks Investment Research raised Northrop Grumman from a “hold” rating to a “buy” rating and set a $270.00 target price on the stock in a research note on Thursday, April 13th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $247.21.
Shares of Northrop Grumman (NYSE:NOC) traded down 0.98% during trading on Thursday, hitting $245.96. 856,368 shares of the stock traded hands. Northrop Grumman has a 12 month low of $205.83 and a 12 month high of $253.80. The company has a 50 day moving average price of $241.56 and a 200 day moving average price of $236.93. The firm has a market cap of $42.94 billion, a price-to-earnings ratio of 19.24 and a beta of 0.69.
In other news, VP Patrick M. Antkowiak sold 207 shares of the business’s stock in a transaction on Thursday, February 23rd. The stock was sold at an average price of $242.11, for a total value of $50,116.77. Following the sale, the vice president now owns 6,238 shares of the company’s stock, valued at approximately $1,510,282.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Christopher T. Jones sold 240 shares of the business’s stock in a transaction on Wednesday, February 1st. The stock was sold at an average price of $228.72, for a total value of $54,892.80. Following the completion of the sale, the vice president now directly owns 46,580 shares in the company, valued at approximately $10,653,777.60. The disclosure for this sale can be found here. Insiders sold a total of 906 shares of company stock worth $214,055 in the last three months. Company insiders own 0.90% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Tocqueville Asset Management L.P. increased its stake in Northrop Grumman by 172.2% in the first quarter. Tocqueville Asset Management L.P. now owns 8,765 shares of the aerospace company’s stock worth $2,085,000 after buying an additional 5,545 shares in the last quarter. Tarbox Group Inc. increased its stake in Northrop Grumman by 643.7% in the first quarter. Tarbox Group Inc. now owns 647 shares of the aerospace company’s stock worth $154,000 after buying an additional 560 shares in the last quarter. BB&T Corp increased its stake in Northrop Grumman by 2.5% in the first quarter. BB&T Corp now owns 3,143 shares of the aerospace company’s stock worth $747,000 after buying an additional 78 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its stake in Northrop Grumman by 7.9% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 13,862 shares of the aerospace company’s stock worth $3,296,000 after buying an additional 1,018 shares in the last quarter. Finally, Wetherby Asset Management Inc. increased its stake in Northrop Grumman by 0.4% in the first quarter. Wetherby Asset Management Inc. now owns 3,107 shares of the aerospace company’s stock worth $739,000 after buying an additional 12 shares in the last quarter. 81.81% of the stock is currently owned by institutional investors.
TRADEMARK VIOLATION NOTICE: “Zacks: Analysts Anticipate Northrop Grumman Co. (NOC) to Announce $2.86 EPS” was originally posted by Sports Perspectives and is the sole property of of Sports Perspectives. If you are reading this piece on another publication, it was illegally copied and republished in violation of US and international copyright & trademark law. The original version of this piece can be accessed at https://sportsperspectives.com/2017/05/20/zacks-analysts-anticipate-northrop-grumman-co-noc-to-announce-2-86-eps-updated-updated.html.
Northrop Grumman Company Profile
Northrop Grumman Corporation is a global security company. The Company provides products, systems and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance and reconnaissance (C4ISR); strike, and logistics and modernization. The Company’s segments include Aerospace Systems, Mission Systems and Technology Services.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Northrop Grumman Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northrop Grumman Co. and related companies with MarketBeat.com's FREE daily email newsletter.