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Northrop Grumman (NOC) Gains As Market Dips: What You Should Know
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Northrop Grumman (NOC - Free Report) closed the most recent trading day at $503.83, moving +1.56% from the previous trading session. This change outpaced the S&P 500's 0.75% loss on the day. Meanwhile, the Dow lost 0.32%, and the Nasdaq, a tech-heavy index, lost 0.11%.
Prior to today's trading, shares of the defense contractor had gained 0.95% over the past month. This has outpaced the Aerospace sector's loss of 5.75% and the S&P 500's loss of 8.4% in that time.
Wall Street will be looking for positivity from Northrop Grumman as it approaches its next earnings report date. This is expected to be October 27, 2022. On that day, Northrop Grumman is projected to report earnings of $6.13 per share, which would represent a year-over-year decline of 7.54%. Meanwhile, our latest consensus estimate is calling for revenue of $9.14 billion, up 4.8% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $24.76 per share and revenue of $36.35 billion. These totals would mark changes of -3.39% and +1.92%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Northrop Grumman. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Northrop Grumman is holding a Zacks Rank of #4 (Sell) right now.
Digging into valuation, Northrop Grumman currently has a Forward P/E ratio of 20.04. Its industry sports an average Forward P/E of 17.35, so we one might conclude that Northrop Grumman is trading at a premium comparatively.
We can also see that NOC currently has a PEG ratio of 9.15. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Aerospace - Defense stocks are, on average, holding a PEG ratio of 1.8 based on yesterday's closing prices.
The Aerospace - Defense industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 212, putting it in the bottom 16% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Northrop Grumman (NOC) Gains As Market Dips: What You Should Know
Northrop Grumman (NOC - Free Report) closed the most recent trading day at $503.83, moving +1.56% from the previous trading session. This change outpaced the S&P 500's 0.75% loss on the day. Meanwhile, the Dow lost 0.32%, and the Nasdaq, a tech-heavy index, lost 0.11%.
Prior to today's trading, shares of the defense contractor had gained 0.95% over the past month. This has outpaced the Aerospace sector's loss of 5.75% and the S&P 500's loss of 8.4% in that time.
Wall Street will be looking for positivity from Northrop Grumman as it approaches its next earnings report date. This is expected to be October 27, 2022. On that day, Northrop Grumman is projected to report earnings of $6.13 per share, which would represent a year-over-year decline of 7.54%. Meanwhile, our latest consensus estimate is calling for revenue of $9.14 billion, up 4.8% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $24.76 per share and revenue of $36.35 billion. These totals would mark changes of -3.39% and +1.92%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Northrop Grumman. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Northrop Grumman is holding a Zacks Rank of #4 (Sell) right now.
Digging into valuation, Northrop Grumman currently has a Forward P/E ratio of 20.04. Its industry sports an average Forward P/E of 17.35, so we one might conclude that Northrop Grumman is trading at a premium comparatively.
We can also see that NOC currently has a PEG ratio of 9.15. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Aerospace - Defense stocks are, on average, holding a PEG ratio of 1.8 based on yesterday's closing prices.
The Aerospace - Defense industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 212, putting it in the bottom 16% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.