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Northrop Grumman Corporation (NOC), headquartered in Falls Church, Virginia, is a leading global aerospace and defense technology company. With a market cap of $79.43 billion, Northrop Grumman delivers innovative systems, products, and solutions in autonomous systems, cyber, C4ISR, space, strike, and logistics and modernization to customers worldwide. The company is set to announce its Q3 earnings before the market opens on Thursday, Oct. 24.
Ahead of the event, analysts expect NOC to report a profit of $6.05 per share, down 2.1% from $6.18 in the year-ago quarter. The company has surpassed Wall Street’s EPS estimates in its last four quarterly reports.
Its adjusted earnings of $6.36 per share for the last quarter surpassed the consensus estimate by 6.9%. Northrop Grumman's Q2 2024 earnings beat estimates due to higher operating income and strong sales growth across all segments, particularly in Aeronautics Systems.
For fiscal 2024, analysts expect NOC to report EPS of $25.14, up 7.9% from $23.29 in fiscal 2023.
NOC stock is up 14.7% on a YTD basis, underperforming the broader S&P 500 Index's ($SPX) 20.2% gains and the SPDR S&P Aerospace & Defense ETF’s (XAR) 17.7% returns over the same time frame.
Northrop Grumman’s shares surged 6.4% on Jul. 25 after announcing better-than-expected Q2 earnings results. The company reported a 7% year-over-year increase in total sales, reaching $10.2 billion and slightly surpassing estimates. This growth was primarily fueled by robust performances in the Aeronautics and Defense segments, underscoring continued strong demand for Northrop Grumman's advanced products and services.
The consensus opinion on NOC stock is moderately bullish, with an overall “Moderate Buy” rating. Of 18 analysts covering the stock, seven advise a “Strong Buy” rating, nine suggest a “Hold,” and two suggest a “Strong Sell.” NOC's average analyst price target is $524.58, which indicates that the stock trades at a premium.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
