Northrop Grumman (NYSE:NOC) Releases FY24 Earnings Guidance

Northrop Grumman (NYSE:NOC) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $25.65-26.05 for the period, compared to the consensus EPS estimate of $25.22. The company issued revenue guidance of $41.0-41.4 billion, compared to the consensus revenue estimate of $41.38 billion. Northrop Grumman also updated its FY 2024 guidance to 25.650-26.050 EPS.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Barclays raised their price target on Northrop Grumman from $470.00 to $500.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Susquehanna boosted their target price on shares of Northrop Grumman from $560.00 to $625.00 and gave the stock a “positive” rating in a research report on Friday. Alembic Global Advisors downgraded shares of Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $560.00 price objective for the company. in a research note on Tuesday, August 27th. UBS Group upped their target price on Northrop Grumman from $614.00 to $643.00 and gave the company a “buy” rating in a research report on Friday. Finally, Citigroup boosted their price target on Northrop Grumman from $521.00 to $587.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Northrop Grumman presently has an average rating of “Hold” and an average target price of $547.44.

Northrop Grumman Stock Performance

Shares of NOC stock traded down $4.33 on Friday, hitting $519.35. The company had a trading volume of 511,170 shares, compared to its average volume of 873,591. The firm has a market cap of $75.95 billion, a P/E ratio of 33.90, a price-to-earnings-growth ratio of 2.38 and a beta of 0.34. The company has a 50-day moving average price of $523.28 and a 200-day moving average price of $480.60. The company has a quick ratio of 0.99, a current ratio of 1.11 and a debt-to-equity ratio of 1.03. Northrop Grumman has a twelve month low of $418.60 and a twelve month high of $555.57.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings data on Thursday, October 24th. The aerospace company reported $7.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.07 by $0.93. The business had revenue of $10 billion during the quarter, compared to analysts’ expectations of $10.18 billion. Northrop Grumman had a return on equity of 25.44% and a net margin of 5.61%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.18 EPS. As a group, equities research analysts predict that Northrop Grumman will post 25.16 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, September 18th. Investors of record on Tuesday, September 3rd were issued a $2.06 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $8.24 dividend on an annualized basis and a yield of 1.59%. Northrop Grumman’s payout ratio is 53.79%.

Insider Buying and Selling

In related news, VP Thomas H. Jones sold 1,390 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $500.00, for a total value of $695,000.00. Following the completion of the transaction, the vice president now owns 4,634 shares of the company’s stock, valued at approximately $2,317,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders sold 1,490 shares of company stock valued at $747,372. 0.22% of the stock is owned by company insiders.

About Northrop Grumman

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.