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

Northrop Grumman (NYSE:NOC - Get Free Report) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 24.450-24.850 for the period, compared to the consensus EPS 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 NOC stock traded up $13.65 on Thursday, reaching $488.22. The stock had a trading volume of 1,362,070 shares, compared to its average volume of 1,002,314. Northrop Grumman has a 1 year low of $414.56 and a 1 year high of $496.89. The company has a 50 day simple moving average of $461.24 and a 200 day simple moving average of $465.55. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.05 and a current ratio of 1.15. The stock has a market cap of $72.35 billion, a P/E ratio of 35.83, a price-to-earnings-growth ratio of 1.91 and a beta of 0.35.

Northrop Grumman (NYSE:NOC - Get Free Report) last released its quarterly earnings results on Thursday, January 25th. The aerospace company reported $6.27 earnings per share for the quarter, topping the consensus estimate of $5.80 by $0.47. Northrop Grumman had a net margin of 5.23% and a return on equity of 23.07%. The business had revenue of $10.64 billion for the quarter, compared to the consensus estimate of $10.43 billion. During the same period last year, the firm earned $7.50 earnings per share. The company's quarterly revenue was up 6.0% on a year-over-year basis. Equities research analysts expect that Northrop Grumman will post 24.67 EPS for the current year.

Northrop Grumman Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 13th. Investors of record on Monday, February 26th were paid a dividend of $1.87 per share. This represents a $7.48 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date was Friday, February 23rd. Northrop Grumman's dividend payout ratio (DPR) is 55.49%.

Wall Street Analyst Weigh In

NOC has been the subject of several recent analyst reports. Alembic Global Advisors raised shares of Northrop Grumman from a neutral rating to an overweight rating and set a $532.00 target price for the company in a report on Monday. Susquehanna dropped their target price on shares of Northrop Grumman from $560.00 to $540.00 and set a positive rating for the company in a report on Friday, January 26th. Robert W. Baird decreased their price target on shares of Northrop Grumman from $505.00 to $475.00 and set a neutral rating on the stock in a research note on Friday, January 26th. Royal Bank of Canada reiterated a sector perform rating and issued a $450.00 price target (down previously from $515.00) on shares of Northrop Grumman in a research note on Friday, January 26th. Finally, StockNews.com cut shares of Northrop Grumman from a buy rating to a hold rating in a research note on Monday, January 29th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Northrop Grumman presently has a consensus rating of Hold and an average price target of $497.23.

Insider Activity

In related news, VP Kathryn G. Simpson sold 1,273 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $450.37, for a total value of $573,321.01. Following the sale, the vice president now directly owns 2,735 shares of the company's stock, valued at approximately $1,231,761.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Kathryn G. Simpson sold 1,273 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $450.37, for a total value of $573,321.01. Following the sale, the vice president now directly owns 2,735 shares of the company's stock, valued at approximately $1,231,761.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Kathryn G. Simpson sold 711 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $453.22, for a total transaction of $322,239.42. Following the completion of the sale, the vice president now directly owns 2,024 shares in the company, valued at $917,317.28. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,149 shares of company stock worth $1,421,147. 0.22% of the stock is currently owned by corporate 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.