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

Northrop Grumman (NYSE:NOC) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 25.650-26.050 for the period, compared to the consensus earnings per share estimate of 25.020. The company issued revenue guidance of $41.0 billion-$41.4 billion, compared to the consensus revenue estimate of $41.4 billion. Northrop Grumman also updated its FY24 guidance to $25.65-26.05 EPS.

Northrop Grumman Stock Down 0.8 %

Shares of Northrop Grumman stock traded down $4.33 on Friday, reaching $519.35. The company’s stock had a trading volume of 516,098 shares, compared to its average volume of 873,610. Northrop Grumman has a 52 week low of $418.60 and a 52 week high of $555.57. The firm’s fifty day simple moving average is $523.54 and its two-hundred day simple moving average is $481.03. The company has a quick ratio of 0.99, a current ratio of 1.11 and a debt-to-equity ratio of 1.03. The company has a market capitalization of $75.95 billion, a price-to-earnings ratio of 33.90, a P/E/G ratio of 2.38 and a beta of 0.34.

Northrop Grumman (NYSE:NOC) last announced its quarterly earnings results on Thursday, October 24th. The aerospace company reported $7.00 EPS for the quarter, topping analysts’ consensus estimates of $6.07 by $0.93. The firm had revenue of $10 billion during the quarter, compared to analyst estimates of $10.18 billion. Northrop Grumman had a net margin of 5.61% and a return on equity of 25.44%. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the previous year, the business posted $6.18 earnings per share. Equities analysts anticipate that Northrop Grumman will post 25.16 earnings per share for the current year.

Northrop Grumman Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Tuesday, September 3rd were paid a $2.06 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $8.24 dividend on an annualized basis and a dividend yield of 1.59%. Northrop Grumman’s dividend payout ratio (DPR) is currently 53.79%.

Analyst Ratings Changes

Several brokerages have issued reports on NOC. Morgan Stanley raised their target price on Northrop Grumman from $579.00 to $592.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Susquehanna boosted their target price on shares of Northrop Grumman from $560.00 to $625.00 and gave the company a “positive” rating in a research report on Friday. Royal Bank of Canada upped their target price on shares of Northrop Grumman from $500.00 to $540.00 and gave the company a “sector perform” rating in a report on Friday. UBS Group boosted their price objective on shares of Northrop Grumman from $614.00 to $643.00 and gave the company a “buy” rating in a research report on Friday. Finally, JPMorgan Chase & Co. boosted their price target on Northrop Grumman from $500.00 to $560.00 and gave the company a “neutral” rating in a report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $547.44.

Insider Buying and Selling

In other Northrop Grumman news, VP Thomas H. Jones sold 1,390 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $500.00, for a total value of $695,000.00. Following the sale, the vice president now owns 4,634 shares in the company, valued at $2,317,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders sold 1,490 shares of company stock worth $747,372. 0.22% of the stock is 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.