Zacks: Analysts Expect Northrop Grumman Co. (NOC) to Post $4.61 Earnings Per Share

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Wall Street analysts expect Northrop Grumman Co. (NYSE:NOC) to announce earnings of $4.61 per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Northrop Grumman’s earnings, with the highest EPS estimate coming in at $5.05 and the lowest estimate coming in at $4.19. Northrop Grumman reported earnings per share of $4.21 during the same quarter last year, which suggests a positive year over year growth rate of 9.5%. The company is scheduled to report its next earnings report on Wednesday, April 24th.

On average, analysts expect that Northrop Grumman will report full year earnings of $19.09 per share for the current financial year, with EPS estimates ranging from $17.00 to $20.57. For the next fiscal year, analysts anticipate that the firm will report earnings of $21.80 per share, with EPS estimates ranging from $19.30 to $23.04. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that follow Northrop Grumman.

Northrop Grumman (NYSE:NOC) last posted its earnings results on Thursday, January 31st. The aerospace company reported $4.93 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.45 by $0.48. The firm had revenue of $8.16 billion during the quarter, compared to the consensus estimate of $8.11 billion. Northrop Grumman had a net margin of 9.73% and a return on equity of 41.24%. During the same quarter in the prior year, the company earned $2.82 EPS.

A number of analysts recently issued reports on NOC shares. Credit Suisse Group reissued a “buy” rating on shares of Northrop Grumman in a research report on Thursday, January 31st. Morgan Stanley dropped their target price on shares of Northrop Grumman from $346.00 to $318.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 14th. Jefferies Financial Group dropped their target price on shares of Northrop Grumman from $400.00 to $324.00 and set a “buy” rating for the company in a research report on Tuesday, October 30th. Zacks Investment Research downgraded shares of Northrop Grumman from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 26th. Finally, Drexel Hamilton reissued a “buy” rating and set a $335.00 target price on shares of Northrop Grumman in a research report on Wednesday, December 19th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $336.94.

NOC opened at $281.47 on Friday. The company has a market cap of $47.78 billion, a P/E ratio of 13.20, a price-to-earnings-growth ratio of 1.24 and a beta of 0.89. Northrop Grumman has a 1 year low of $223.63 and a 1 year high of $360.88. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.17 and a quick ratio of 1.09.

Northrop Grumman declared that its board has authorized a share buyback program on Tuesday, December 4th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the aerospace company to reacquire up to 6.9% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Laurel Wealth Advisors LLC purchased a new position in Northrop Grumman in the 4th quarter worth approximately $27,000. Athena Capital Advisors LLC purchased a new position in shares of Northrop Grumman during the 4th quarter valued at approximately $31,000. Gantzert Investment Co. LLC ADV purchased a new position in shares of Northrop Grumman during the 4th quarter valued at approximately $32,000. Penserra Capital Management LLC boosted its stake in shares of Northrop Grumman by 31.3% during the 4th quarter. Penserra Capital Management LLC now owns 168 shares of the aerospace company’s stock valued at $41,000 after buying an additional 40 shares during the last quarter. Finally, First Mercantile Trust Co. purchased a new position in shares of Northrop Grumman during the 4th quarter valued at approximately $47,000. Hedge funds and other institutional investors own 87.31% of the company’s stock.

Northrop Grumman Company Profile

Northrop Grumman Corporation operates as a security company for government and commercial customers worldwide. It provides products, systems, and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance, and reconnaissance (C4ISR); strike; and logistics and modernization.

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Earnings History and Estimates for Northrop Grumman (NYSE:NOC)

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