Northrop Grumman Co. (NYSE:NOC) Expected to Post Quarterly Sales of $8.96 Billion

Equities research analysts predict that Northrop Grumman Co. (NYSE:NOC) will post sales of $8.96 billion for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Northrop Grumman’s earnings, with estimates ranging from $8.92 billion to $9.00 billion. Northrop Grumman posted sales of $10.21 billion in the same quarter last year, which would indicate a negative year-over-year growth rate of 12.2%. The business is expected to issue its next earnings results on Thursday, January 27th.

On average, analysts expect that Northrop Grumman will report full year sales of $35.95 billion for the current year, with estimates ranging from $35.84 billion to $36.03 billion. For the next fiscal year, analysts expect that the company will post sales of $37.36 billion, with estimates ranging from $36.78 billion to $37.91 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Northrop Grumman.

Northrop Grumman (NYSE:NOC) last posted its quarterly earnings data on Thursday, October 28th. The aerospace company reported $6.63 EPS for the quarter, beating analysts’ consensus estimates of $5.93 by $0.70. Northrop Grumman had a net margin of 12.42% and a return on equity of 39.17%. The company had revenue of $8.72 billion during the quarter, compared to analyst estimates of $8.94 billion. During the same period in the prior year, the firm earned $5.89 earnings per share. The business’s quarterly revenue was down 4.0% on a year-over-year basis.

A number of analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Northrop Grumman from a “hold” rating to a “buy” rating and set a $392.00 price target for the company in a research report on Wednesday, October 6th. Wolfe Research lowered their price objective on shares of Northrop Grumman from $466.00 to $437.00 and set an “outperform” rating on the stock in a research note on Friday, October 29th. Morgan Stanley cut their price target on Northrop Grumman from $478.00 to $440.00 and set an “overweight” rating for the company in a report on Thursday, November 4th. Susquehanna lowered their price objective on Northrop Grumman from $424.00 to $416.00 and set a “positive” rating for the company in a research report on Friday, October 29th. Finally, Vertical Research lowered Northrop Grumman from a “buy” rating to a “hold” rating in a research report on Friday, October 29th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Northrop Grumman has a consensus rating of “Buy” and a consensus price target of $394.15.

NOC stock traded down $2.84 during mid-day trading on Friday, reaching $361.37. 606,958 shares of the stock traded hands, compared to its average volume of 886,701. The company has a current ratio of 1.47, a quick ratio of 1.37 and a debt-to-equity ratio of 1.12. Northrop Grumman has a 52-week low of $282.88 and a 52-week high of $408.03. The company has a market cap of $57.29 billion, a P/E ratio of 12.70, a P/E/G ratio of 1.57 and a beta of 0.83. The stock’s fifty day moving average is $369.12 and its 200-day moving average is $367.11.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 15th. Stockholders of record on Monday, November 29th will be paid a $1.57 dividend. This represents a $6.28 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend is Friday, November 26th. Northrop Grumman’s dividend payout ratio (DPR) is presently 22.07%.

In other news, Director Karl J. Krapek sold 2,800 shares of the stock in a transaction that occurred on Thursday, November 11th. The stock was sold at an average price of $357.25, for a total value of $1,000,300.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.25% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rafferty Asset Management LLC raised its stake in Northrop Grumman by 4.2% in the second quarter. Rafferty Asset Management LLC now owns 36,629 shares of the aerospace company’s stock worth $13,312,000 after buying an additional 1,482 shares in the last quarter. Bessemer Securities LLC increased its position in shares of Northrop Grumman by 243.6% during the second quarter. Bessemer Securities LLC now owns 3,092 shares of the aerospace company’s stock worth $1,124,000 after purchasing an additional 2,192 shares in the last quarter. Gerber Kawasaki Wealth & Investment Management increased its position in shares of Northrop Grumman by 11.8% during the second quarter. Gerber Kawasaki Wealth & Investment Management now owns 5,590 shares of the aerospace company’s stock worth $2,031,000 after purchasing an additional 588 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Northrop Grumman by 2.8% during the second quarter. Envestnet Asset Management Inc. now owns 126,657 shares of the aerospace company’s stock valued at $46,031,000 after buying an additional 3,424 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale grew its holdings in shares of Northrop Grumman by 55.9% during the second quarter. DekaBank Deutsche Girozentrale now owns 328,616 shares of the aerospace company’s stock valued at $117,935,000 after buying an additional 117,813 shares during the last quarter. Institutional investors own 81.72% of the company’s stock.

About Northrop Grumman

Northrop Grumman Corp. is an aerospace and defense company, which engages in the provision of security businesses. It creates and delivers platforms, systems, and solutions in autonomous systems, cyber, command, control, communications and computers, intelligence, surveillance and reconnaissance, strike, and logistics and modernization.

Featured Story: Stock Market News Sentiment

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

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

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.