Zacks: Analysts Anticipate Northrop Grumman Co. (NOC) to Announce $2.86 EPS

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.

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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.

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