Northrop Grumman Corporation (NOC) Expected to Announce Quarterly Sales of $6.32 Billion

Equities analysts expect that Northrop Grumman Corporation (NYSE:NOC) will report $6.32 billion in sales for the current quarter, Zacks reports. Five analysts have provided estimates for Northrop Grumman Corporation’s earnings, with estimates ranging from $6.28 billion to $6.39 billion. Northrop Grumman Corporation reported sales of $6.16 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 2.6%. The firm is expected to report its next quarterly earnings results before the market opens on Wednesday, October 25th.

On average, analysts expect that Northrop Grumman Corporation will report full year sales of $6.32 billion for the current year, with estimates ranging from $25.24 billion to $25.33 billion. For the next fiscal year, analysts expect that the company will post sales of $26.78 billion per share, with estimates ranging from $26.42 billion to $27.20 billion. Zacks’ sales averages are a mean average based on a survey of research firms that cover Northrop Grumman Corporation.

Northrop Grumman Corporation (NYSE:NOC) last released its earnings results on Wednesday, July 26th. The aerospace company reported $3.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.84 by $0.31. The firm had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.21 billion. Northrop Grumman Corporation had a net margin of 9.20% and a return on equity of 39.22%. The company’s revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.85 EPS.

Several brokerages have recently commented on NOC. Argus raised their price target on Northrop Grumman Corporation from $270.00 to $295.00 and gave the company a “buy” rating in a research note on Friday, August 4th. Stifel Nicolaus restated a “hold” rating and set a $255.00 price target (up previously from $245.00) on shares of Northrop Grumman Corporation in a research note on Thursday, July 27th. Jefferies Group LLC restated a “hold” rating and set a $243.00 price target on shares of Northrop Grumman Corporation in a research note on Wednesday, June 21st. Vertical Research restated a “buy” rating and set a $296.00 price target (up previously from $280.00) on shares of Northrop Grumman Corporation in a research note on Wednesday, September 20th. Finally, Deutsche Bank AG restated a “buy” rating and set a $325.00 price target (up previously from $285.00) on shares of Northrop Grumman Corporation in a research note on Monday, October 2nd. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $276.72.

Shares of Northrop Grumman Corporation (NYSE:NOC) opened at 295.78 on Tuesday. Northrop Grumman Corporation has a 52-week low of $214.59 and a 52-week high of $299.33. The stock has a market capitalization of $51.49 billion, a P/E ratio of 22.59 and a beta of 0.68. The stock has a 50 day moving average of $279.80 and a 200-day moving average of $261.82.

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In other news, VP Lisa R. Davis sold 367 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $263.25, for a total transaction of $96,612.75. Following the sale, the vice president now owns 961 shares in the company, valued at $252,983.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.70% of the stock is currently owned by insiders.

Several hedge funds have recently modified their holdings of the company. Concert Wealth Management Inc. grew its stake in shares of Northrop Grumman Corporation by 0.7% during the first quarter. Concert Wealth Management Inc. now owns 1,083 shares of the aerospace company’s stock worth $252,000 after acquiring an additional 8 shares during the last quarter. Salem Investment Counselors Inc. grew its stake in shares of Northrop Grumman Corporation by 1.2% during the second quarter. Salem Investment Counselors Inc. now owns 812 shares of the aerospace company’s stock worth $208,000 after acquiring an additional 10 shares during the last quarter. Cetera Investment Advisers grew its stake in shares of Northrop Grumman Corporation by 0.8% during the second quarter. Cetera Investment Advisers now owns 1,278 shares of the aerospace company’s stock worth $328,000 after acquiring an additional 10 shares during the last quarter. Bank of Stockton grew its stake in shares of Northrop Grumman Corporation by 0.9% during the second quarter. Bank of Stockton now owns 1,294 shares of the aerospace company’s stock worth $332,000 after acquiring an additional 12 shares during the last quarter. Finally, Eqis Capital Management Inc. grew its stake in shares of Northrop Grumman Corporation by 1.0% during the second quarter. Eqis Capital Management Inc. now owns 1,318 shares of the aerospace company’s stock worth $338,000 after acquiring an additional 13 shares during the last quarter. Institutional investors and hedge funds own 81.25% of the company’s stock.

Northrop Grumman Corporation Company Profile

Northrop Grumman Corporation is a global security company. The Company provides products, systems and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance and reconnaissance (C4ISR); strike, and logistics and modernization. The Company’s segments include Aerospace Systems, Mission Systems and Technology Services.

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