Brokerages Anticipate Northrop Grumman Co. (NOC) Will Announce Quarterly Sales of $8.00 Billion

Wall Street brokerages expect Northrop Grumman Co. (NYSE:NOC) to announce sales of $8.00 billion for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Northrop Grumman’s earnings. The highest sales estimate is $8.15 billion and the lowest is $7.93 billion. Northrop Grumman posted sales of $6.53 billion during the same quarter last year, which suggests a positive year over year growth rate of 22.5%. The company is scheduled to issue its next quarterly earnings results on Wednesday, October 24th.

On average, analysts expect that Northrop Grumman will report full-year sales of $30.00 billion for the current financial year, with estimates ranging from $29.90 billion to $30.08 billion. For the next fiscal year, analysts forecast that the business will report sales of $33.82 billion per share, with estimates ranging from $33.54 billion to $34.10 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Northrop Grumman.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings results on Wednesday, July 25th. The aerospace company reported $3.93 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.84 by $0.09. Northrop Grumman had a net margin of 8.33% and a return on equity of 34.88%. The business had revenue of $7.12 billion during the quarter, compared to the consensus estimate of $7.10 billion. During the same quarter last year, the firm posted $3.16 EPS. The business’s revenue was up 10.0% compared to the same quarter last year.

A number of research analysts have recently commented on NOC shares. Royal Bank of Canada boosted their target price on shares of Northrop Grumman to $431.00 and gave the stock an “outperform” rating in a research report on Friday, May 18th. Zacks Investment Research upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating and set a $379.00 price target for the company in a research note on Monday, June 11th. Credit Suisse Group lifted their price target on shares of Northrop Grumman from $326.00 to $341.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 27th. Stifel Nicolaus restated a “hold” rating and issued a $300.00 price target on shares of Northrop Grumman in a research note on Thursday, July 26th. Finally, Goldman Sachs Group dropped their price target on shares of Northrop Grumman to $414.00 and set a “conviction-buy” rating for the company in a research note on Thursday, July 26th. Seven research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $364.78.

In related news, VP David T. Perry sold 4,425 shares of the company’s stock in a transaction dated Monday, July 30th. The shares were sold at an average price of $300.27, for a total value of $1,328,694.75. Following the completion of the sale, the vice president now owns 28,112 shares of the company’s stock, valued at $8,441,190.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kenneth L. Bedingfield sold 1,442 shares of the company’s stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $300.00, for a total transaction of $432,600.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,867 shares of company stock valued at $7,719,495. Corporate insiders own 0.62% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. Cornerstone Wealth Management LLC boosted its position in shares of Northrop Grumman by 31,477.7% in the second quarter. Cornerstone Wealth Management LLC now owns 779,970 shares of the aerospace company’s stock valued at $2,525,000 after acquiring an additional 777,500 shares during the period. Lord Abbett & CO. LLC boosted its position in shares of Northrop Grumman by 289.9% in the first quarter. Lord Abbett & CO. LLC now owns 408,550 shares of the aerospace company’s stock valued at $142,633,000 after acquiring an additional 303,769 shares during the period. PointState Capital LP bought a new stake in shares of Northrop Grumman in the first quarter valued at approximately $99,988,000. Summit Trail Advisors LLC boosted its position in shares of Northrop Grumman by 31,127.3% in the first quarter. Summit Trail Advisors LLC now owns 211,721 shares of the aerospace company’s stock valued at $212,000 after acquiring an additional 211,043 shares during the period. Finally, AustralianSuper Pty Ltd bought a new stake in shares of Northrop Grumman in the first quarter valued at approximately $73,455,000. 82.16% of the stock is owned by institutional investors and hedge funds.

NOC stock traded up $0.43 during midday trading on Friday, reaching $291.75. 26,126 shares of the company’s stock traded hands, compared to its average volume of 1,415,007. The stock has a market cap of $50.73 billion, a price-to-earnings ratio of 22.03, a price-to-earnings-growth ratio of 1.54 and a beta of 0.68. The company has a quick ratio of 1.15, a current ratio of 1.24 and a debt-to-equity ratio of 1.75. Northrop Grumman has a fifty-two week low of $264.35 and a fifty-two week high of $360.88.

About Northrop Grumman

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.

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