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

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

Shares of Northrop Grumman stock traded down $7.61 during trading on Friday, hitting $480.45. 1,371,947 shares of the company’s stock were exchanged, compared to its average volume of 1,120,454. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.05 and a current ratio of 1.13. The business has a 50-day simple moving average of $462.59 and a 200-day simple moving average of $465.77. Northrop Grumman has a 52-week low of $414.56 and a 52-week high of $496.89. The stock has a market capitalization of $71.20 billion, a price-to-earnings ratio of 33.60, a PEG ratio of 1.96 and a beta of 0.35.

Northrop Grumman (NYSE:NOC) last issued its earnings results on Thursday, April 25th. The aerospace company reported $6.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.83 by $0.49. Northrop Grumman had a net margin of 5.38% and a return on equity of 24.09%. The firm had revenue of $10.13 billion during the quarter, compared to analysts’ expectations of $9.77 billion. During the same quarter last year, the company posted $5.50 earnings per share. The firm’s revenue was up 8.9% compared to the same quarter last year. On average, research analysts forecast that Northrop Grumman will post 24.67 EPS for the current year.

Northrop Grumman Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 13th. Shareholders of record on Monday, February 26th were issued a $1.87 dividend. The ex-dividend date was Friday, February 23rd. This represents a $7.48 dividend on an annualized basis and a yield of 1.56%. Northrop Grumman’s payout ratio is 52.31%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on NOC shares. Alembic Global Advisors raised shares of Northrop Grumman from a neutral rating to an overweight rating and set a $532.00 price objective for the company in a report on Monday, April 22nd. Susquehanna lifted their price objective on shares of Northrop Grumman from $540.00 to $560.00 and gave the company a positive rating in a report on Friday. Royal Bank of Canada lifted their price objective on shares of Northrop Grumman from $450.00 to $475.00 and gave the company a sector perform rating in a report on Friday. TheStreet cut shares of Northrop Grumman from a b+ rating to a c+ rating in a report on Thursday, January 25th. Finally, StockNews.com upgraded shares of Northrop Grumman from a hold rating to a buy rating in a research report on Friday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Northrop Grumman has a consensus rating of Hold and a consensus target price of $503.00.

Insider Buying and Selling

In other Northrop Grumman news, CAO Michael A. Hardesty sold 210 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $454.68, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Northrop Grumman news, CAO Michael A. Hardesty sold 210 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $454.68, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Kathryn G. Simpson sold 711 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $453.22, for a total transaction of $322,239.42. Following the transaction, the vice president now owns 2,024 shares of the company’s stock, valued at approximately $917,317.28. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,149 shares of company stock worth $1,421,147. 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.