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

Northrop Grumman (NYSE:NOC) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 24.450-24.850 for the period, compared to the consensus EPS 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 0.0 %

NOC stock opened at $474.57 on Thursday. The stock has a market capitalization of $70.33 billion, a P/E ratio of 35.21, a P/E/G ratio of 1.91 and a beta of 0.35. The firm has a 50-day simple moving average of $461.24 and a 200-day simple moving average of $465.55. The company has a quick ratio of 1.05, a current ratio of 1.15 and a debt-to-equity ratio of 0.93. Northrop Grumman has a 52 week low of $414.56 and a 52 week high of $496.89.

Northrop Grumman (NYSE:NOC) last released its earnings results on Thursday, January 25th. The aerospace company reported $6.27 EPS for the quarter, topping analysts’ consensus estimates of $5.80 by $0.47. The business had revenue of $10.64 billion during the quarter, compared to analysts’ expectations of $10.43 billion. Northrop Grumman had a net margin of 5.23% and a return on equity of 23.07%. The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $7.50 earnings per share. Equities analysts forecast that Northrop Grumman will post 24.67 earnings per share for the current fiscal year.

Northrop Grumman Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Monday, February 26th were given a dividend of $1.87 per share. The ex-dividend date was Friday, February 23rd. This represents a $7.48 dividend on an annualized basis and a yield of 1.58%. Northrop Grumman’s payout ratio is presently 55.49%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NOC. TheStreet lowered shares of Northrop Grumman from a b+ rating to a c+ rating in a report on Thursday, January 25th. Susquehanna reduced their price target on shares of Northrop Grumman from $560.00 to $540.00 and set a positive rating on the stock in a research note on Friday, January 26th. Alembic Global Advisors raised shares of 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. StockNews.com downgraded shares of Northrop Grumman from a buy rating to a hold rating in a research note on Monday, January 29th. Finally, Robert W. Baird reduced their price target on shares of Northrop Grumman from $505.00 to $475.00 and set a neutral rating on the stock in a research note on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $497.23.

Insider Buying and Selling at Northrop Grumman

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

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.