Northrop Grumman (NYSE:NOC) Updates 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 research firms have commented on NOC. Citigroup lifted their price target on Northrop Grumman from $521.00 to $587.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Morgan Stanley upped their price target on shares of Northrop Grumman from $579.00 to $592.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. Alembic Global Advisors downgraded shares of Northrop Grumman from an “overweight” rating to a “neutral” rating and set a $560.00 price objective on the stock. in a research report on Tuesday, August 27th. Barclays upped their target price on shares of Northrop Grumman from $470.00 to $500.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Finally, Royal Bank of Canada raised their price target on Northrop Grumman from $500.00 to $540.00 and gave the stock a “sector perform” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $547.44.

Northrop Grumman Price Performance

Shares of NYSE:NOC traded down $4.33 on Friday, reaching $519.35. 516,098 shares of the company were exchanged, compared to its average volume of 873,610. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 1.03. Northrop Grumman has a 1-year low of $418.60 and a 1-year high of $555.57. The company has a 50-day moving average of $523.54 and a 200-day moving average of $481.03. The firm has a market cap of $75.95 billion, a price-to-earnings ratio of 33.90, a price-to-earnings-growth ratio of 2.38 and a beta of 0.34.

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

Northrop Grumman Dividend Announcement

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

Insider Activity

In related news, VP Thomas H. Jones sold 1,390 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was 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 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 1,490 shares of company stock worth $747,372 over the last 90 days. 0.22% of the stock is currently 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.