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

Northrop Grumman (NYSE:NOC) updated its FY 2024 earnings guidance on Saturday. The company provided earnings per share (EPS) guidance of 24.900-25.300 for the period, compared to the consensus estimate of 24.760. The company issued revenue guidance of $41.0 billion-$41.4 billion, compared to the consensus revenue estimate of $41.1 billion.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Barclays boosted their target price on Northrop Grumman from $470.00 to $500.00 and gave the company an equal weight rating in a research note on Tuesday, July 30th. 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 report on Monday, April 22nd. Royal Bank of Canada increased their price objective on shares of Northrop Grumman from $475.00 to $500.00 and gave the stock a sector perform rating in a research note on Friday, July 26th. StockNews.com upgraded Northrop Grumman from a hold rating to a buy rating in a report on Friday, July 12th. Finally, Robert W. Baird increased their price target on Northrop Grumman from $475.00 to $505.00 and gave the company a neutral rating in a research report on Friday, April 26th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Hold and an average target price of $516.29.

Northrop Grumman Price Performance

NOC stock opened at $492.79 on Tuesday. The company has a market capitalization of $72.93 billion, a P/E ratio of 34.46, a price-to-earnings-growth ratio of 2.26 and a beta of 0.32. Northrop Grumman has a 52-week low of $414.56 and a 52-week high of $506.83. The business has a 50-day simple moving average of $443.74 and a two-hundred day simple moving average of $455.75. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.99 and a current ratio of 1.11.

Northrop Grumman (NYSE:NOC) last released its quarterly earnings results on Thursday, July 25th. The aerospace company reported $6.36 earnings per share for the quarter, beating analysts’ consensus estimates of $5.93 by $0.43. The company had revenue of $10.22 billion for the quarter, compared to analyst estimates of $10.02 billion. Northrop Grumman had a net margin of 5.61% and a return on equity of 25.44%. The firm’s revenue was up 6.7% on a year-over-year basis. During the same period last year, the firm earned $5.34 earnings per share. Research analysts expect that Northrop Grumman will post 25.18 EPS for the current fiscal year.

Northrop Grumman Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Tuesday, May 28th were paid a $2.06 dividend. This represents a $8.24 dividend on an annualized basis and a yield of 1.67%. This is a boost from Northrop Grumman’s previous quarterly dividend of $1.87. The ex-dividend date of this dividend was Friday, May 24th. Northrop Grumman’s payout ratio is presently 57.62%.

Insider Buying and Selling

In other news, VP Thomas H. Jones sold 1,390 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $500.00, for a total transaction of $695,000.00. Following the completion of the transaction, the vice president now owns 4,634 shares in the company, valued at approximately $2,317,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Northrop Grumman news, VP Thomas H. Jones sold 1,389 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $477.56, for a total value of $663,330.84. Following the completion of the transaction, the vice president now directly owns 6,755 shares of the company’s stock, valued at approximately $3,225,917.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Thomas H. Jones sold 1,390 shares of the business’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 transaction, the vice president now owns 4,634 shares of the company’s stock, valued at $2,317,000. The disclosure for this sale can be found here. 0.22% of the stock is currently owned by 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.