Seaport Res Ptn Brokers Cut Earnings Estimates for Northrop Grumman Co. (NYSE:NOC)
Northrop Grumman Co. (NYSE:NOC – Get Rating) – Research analysts at Seaport Res Ptn lowered their Q3 2022 EPS estimates for Northrop Grumman in a report released on Sunday, June 5th. Seaport Res Ptn analyst R. Safran now expects that the aerospace company will earn $6.25 per share for the quarter, down from their prior forecast of $6.34. Seaport Res Ptn has a “Buy” rating on the stock. Seaport Res Ptn also issued estimates for Northrop Grumman’s Q1 2023 earnings at $6.62 EPS, Q2 2023 earnings at $6.90 EPS and Q3 2023 earnings at $7.08 EPS.
NOC has been the subject of several other reports. Wells Fargo & Company raised their target price on shares of Northrop Grumman from $390.00 to $472.00 and gave the company an “equal weight” rating in a report on Monday, March 7th. Argus raised their target price on shares of Northrop Grumman from $420.00 to $495.00 in a report on Thursday, May 12th. Morgan Stanley raised their target price on shares of Northrop Grumman from $428.00 to $521.00 and gave the company an “overweight” rating in a report on Wednesday, March 2nd. UBS Group raised their target price on shares of Northrop Grumman from $410.00 to $450.00 in a report on Friday, April 29th. Finally, StockNews.com upgraded shares of Northrop Grumman from a “hold” rating to a “buy” rating in a report on Tuesday, May 17th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $438.18.
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NOC stock opened at $492.06 on Wednesday. Northrop Grumman has a one year low of $344.89 and a one year high of $492.30. The stock has a market capitalization of $76.49 billion, a PE ratio of 13.56, a price-to-earnings-growth ratio of 3.17 and a beta of 0.71. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.21 and a current ratio of 1.31. The company has a fifty day moving average of $458.63 and a 200-day moving average of $419.23. Northrop Grumman (NYSE:NOC – Get Rating) last released its earnings results on Thursday, April 28th. The aerospace company reported $6.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.95 by $0.15. The company had revenue of $8.80 billion for the quarter, compared to analyst estimates of $8.89 billion. Northrop Grumman had a net margin of 16.33% and a return on equity of 32.82%. The firm’s quarterly revenue was down 3.9% on a year-over-year basis. During the same period in the prior year, the business earned $6.57 EPS.
Several hedge funds and other institutional investors have recently bought and sold shares of NOC. Duncker Streett & Co. Inc. raised its holdings in Northrop Grumman by 88.6% in the fourth quarter. Duncker Streett & Co. Inc. now owns 66 shares of the aerospace company’s stock valued at $25,000 after acquiring an additional 31 shares in the last quarter. Lansing Street Advisors acquired a new stake in Northrop Grumman in the first quarter valued at $25,000. Kings Point Capital Management raised its holdings in Northrop Grumman by 83.3% in the first quarter. Kings Point Capital Management now owns 55 shares of the aerospace company’s stock valued at $25,000 after acquiring an additional 25 shares in the last quarter. Dixon Hughes Goodman Wealth Advisors LLC bought a new stake in Northrop Grumman during the fourth quarter valued at $26,000. Finally, Rather & Kittrell Inc. bought a new stake in Northrop Grumman during the fourth quarter valued at $26,000. 84.52% of the stock is currently owned by institutional investors and hedge funds.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 15th. Stockholders of record on Tuesday, May 31st will be given a dividend of $1.73 per share. This is a boost from Northrop Grumman’s previous quarterly dividend of $1.57. This represents a $6.92 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date is Friday, May 27th. Northrop Grumman’s payout ratio is presently 19.07%.
Northrop Grumman Company Profile (Get Rating)
Northrop Grumman Corporation operates as an aerospace and defense company worldwide. 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.
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