Northrop Grumman (NYSE:NOC) Releases FY 2024 Earnings Guidance

Northrop Grumman (NYSE:NOC) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 24.450-24.850 for the period, compared to the consensus estimate of 24.650. The company issued revenue guidance of $40.8 billion-$41.2 billion, compared to the consensus revenue estimate of $41.1 billion.

Northrop Grumman Stock Down 1.6 %

Shares of NOC stock opened at $480.45 on Friday. The stock has a 50 day moving average of $462.59 and a 200 day moving average of $465.77. The company has a current ratio of 1.13, a quick ratio of 1.05 and a debt-to-equity ratio of 1.04. The stock has a market cap of $71.20 billion, a P/E ratio of 33.60, a P/E/G ratio of 1.93 and a beta of 0.35. Northrop Grumman has a twelve month low of $414.56 and a twelve month high of $496.89.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings data on Thursday, April 25th. The aerospace company reported $6.32 EPS for the quarter, beating the consensus estimate of $5.83 by $0.49. Northrop Grumman had a return on equity of 24.09% and a net margin of 5.38%. The company had revenue of $10.13 billion for the quarter, compared to analyst estimates of $9.77 billion. During the same period last year, the company earned $5.50 earnings per share. Northrop Grumman’s quarterly revenue was up 8.9% compared to the same quarter last year. As a group, sell-side analysts expect that Northrop Grumman will post 24.7 EPS for the current year.

Northrop Grumman Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Monday, February 26th were issued a $1.87 dividend. This represents a $7.48 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend was Friday, February 23rd. Northrop Grumman’s payout ratio is currently 52.31%.

Analyst Upgrades and Downgrades

Several brokerages have commented on NOC. Robert W. Baird raised their price objective on Northrop Grumman from $475.00 to $505.00 and gave the company a neutral rating in a report on Friday. Royal Bank of Canada raised their price objective on Northrop Grumman from $450.00 to $475.00 and gave the company a sector perform rating in a report on Friday. StockNews.com raised Northrop Grumman from a hold rating to a buy rating in a research note on Friday. Alembic Global Advisors raised Northrop Grumman from a neutral rating to an overweight rating and set a $532.00 price target on the stock in a research note on Monday, April 22nd. Finally, TheStreet lowered Northrop Grumman from a b+ rating to a c+ rating in a research note on Thursday, January 25th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Northrop Grumman has a consensus rating of Hold and a consensus price target of $503.00.

Insider Buying and Selling

In related news, CAO Michael A. Hardesty sold 955 shares of Northrop Grumman stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $450.37, for a total transaction of $430,103.35. Following the transaction, the chief accounting officer now owns 4,137 shares in the company, valued at $1,863,180.69. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Northrop Grumman news, CAO Michael A. Hardesty sold 210 shares of Northrop Grumman stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $454.68, for a total value of $95,482.80. Following the sale, the chief accounting officer now owns 3,127 shares in the company, valued at $1,421,784.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Michael A. Hardesty sold 955 shares of Northrop Grumman stock in a transaction on Friday, February 16th. The shares were sold at an average price of $450.37, for a total value of $430,103.35. Following the completion of the sale, the chief accounting officer now owns 4,137 shares in the company, valued at approximately $1,863,180.69. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,149 shares of company stock worth $1,421,147. 0.22% of the stock is owned by corporate insiders.

Northrop Grumman Company Profile

Northrop Grumman Corporation operates as an aerospace and defense technology company in the United States, Asia/Pacific, Europe, and internationally. The company's Aeronautics Systems segment designs, develops, manufactures, integrates, and sustains aircraft systems. This segment also offers unmanned autonomous aircraft systems, including high-altitude long-endurance strategic ISR systems and vertical take-off and landing tactical ISR systems; and strategic long-range strike aircraft, tactical fighter and air dominance aircraft, and airborne battle management and command and control systems.